The CLARITY Act missed its Senate vote, but regulatory activity continued elsewhere as crypto firms faced approvals, restrictions, and scrutiny.
The crypto market had an interesting run this past week, considering regulatory developments. While no major nation or government announced rules, bills, or regulations, the hammer fell on many crypto companies.
Some even brought positive news on this front, such as Polygon Labs, which joined the Bank of England’s Digital Pound Lab as a partner.
The CFTC announced its Innovation Advisory Committee will convene on August 20 in Washington. Attendees plan to discuss crypto asset regulation, artificial intelligence oversight, and prediction markets together.
The meeting signals continued regulatory attention on emerging financial technology intersections across these three sectors. It follows growing industry pressure for clearer federal guidance.
Polygon Labs joined the Bank of England's Digital Pound Lab this week as a partner. Working alongside NOBO Finance and Dun & Bradstreet, Polygon is testing cross-border settlement mechanics directly.
The trial examines whether a private stablecoin and a digital pound can settle one payment together, simultaneously. Neither side would need to wait on the other to complete transactions under this proposed settlement model.
World Liberty Trust won preliminary OCC (Office of the Comptroller of the Currency) approval for a national trust bank charter this week. The approval lets the Trump-linked firm bring USD1 stablecoin issuance and custody in-house directly, finally.
Previously, World Liberty relied on third-party BitGo for these custody and stablecoin conversion services entirely.
Democrats, including Senator Elizabeth Warren, have publicly criticized the decision, citing Trump's ongoing financial stake in the crypto venture.
Binance will stop processing transactions involving eleven crypto platforms starting August 23, per its announcement. Restrictions on Shelbit and Aban Tether Exchange already took effect earlier this month, on August 7 exactly.
A7 Nigeria, A7 Africa, and PilotFinance Ltd faced fresh restrictions beginning August 13 this week.
RedotPay, described as the largest crypto card provider, delayed its planned US IPO this week. The company pushed its listing timeline from this year to potentially 2027 or later instead. It cited pending regulatory approvals and ongoing legal issues tied directly to a Binance lawsuit filing.
JPMorgan ended its banking relationship with prediction market platform Polymarket last year, reports confirmed this week. The bank cited regulatory concerns as its primary reason for severing the banking relationship entirely and quietly. Polymarket has faced scrutiny from multiple financial regulators over its market structure and offerings recently.
The SEC postponed its public meeting on crypto asset regulation this week, surprising many observers. The agency cited unexpected scheduling issues as the reason for the last-minute delay decision. It reaffirmed its firm commitment to the president's stated policy of providing crypto market clarity regardless of delays.
The Senate left for its August recess without holding a final CLARITY Act floor vote. Majority Leader John Thune filed a cloture motion before lawmakers departed Washington for the break. This procedural move keeps the broader market-structure bill alive heading into next month's session.
Overall, crypto regulation remained active this week despite the absence of major new laws or rules. While some firms secured regulatory progress, others faced restrictions, delays, and growing scrutiny from authorities. With the CLARITY Act still pending and the SEC reassessing its timeline, regulatory uncertainty remains a key market factor.
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