🔆 We are excited to announce the launch of Solana Policy Institute (SPI), a new non-partisan, non-profit focused on educating policymakers on how decentralized networks like @solana are the future infrastructure of the digital economy—and why the people building on and using them need legal certainty to flourish. 🧵👇

.@CFTC Staff Releases Updates to FAQs Concerning Registrants and Registered Entity Activities Relating to Crypto Assets and Blockchain Technologies: cftc.gov/PressRoom/PressRele…

Rapidly advancing technologies are transforming our markets at a speed once thought impossible. To keep pace, the @CFTC is engaging directly with the people building, using, and studying them. Introducing the Frontier Forum Series, a series of public roundtables on the innovative technologies that are transforming American financial markets, spearheaded by our Innovation Task Force. Mark your calendars for our first symposium, a conversation on artificial intelligence and agentic finance, which will be held on Wednesday, October 28.

The innovation exemption is an actual thing: sec.gov/newsroom/press-relea…

1/ The @SECGov just issued an innovation exemption for onchain securities trading. This framework has the potential to move trillions of dollars in existing financial assets onto “public, permissionless” blockchains like @solana, positioning the US as the home of internet capital markets.

There’s no sense in sugarcoating it: today’s vote was a major disappointment—and, I believe, a failure of American leadership. The full cost of today’s result may not be known for years to come, but this much is clear: it increases the risk that the standards that global financial markets adhere to in the future will be those of Brussels or Beijing, rather than Washington and New York. I want to thank @POTUS for the opportunity to work on this important legislation and for the remarkable concessions he was willing to make to give this bill a chance; @DavidSacks for his wise leadership on not only crypto but all frontier tech policy; and all the Senators and their staffs who devoted countless hours to working on this bill, chief among them @SenLummis who deserved much better than this. Lastly, I also want to thank my colleagues across the administration at Treasury, SEC, and the CFTC. Their partnership helped us find creative solutions to challenging issues throughout this process, and their patience made it possible for us to see it all the way through to a vote. On that last point: @SECPaulSAtkins and @ChairmanSelig, you’re up!

“Disappointing” seems to be the common refrain across the industry following the changes to the Blockchain Regulatory Certainty Act made in the new Clarity Act text. Many of the people I’m speaking with who don’t want to go on the record are using that word. But the majority so far say they don’t believe the change is existential enough to “blow up” the entire bill.