SEC Crypto Rules: The SEC proposed “Regulation Crypto Assets,” aiming to create a dedicated offering regime for certain crypto investment contracts, with a 60-day comment period and new exemptions/safe-harbor concepts as the CLARITY Act stalls. Industry Lobbying: Coinbase-backed Stand With Crypto endorsed 32 pro-CLARITY midterm candidates, tying support to one recorded House vote to pressure Senate gridlock. Market Structure Push: Hyperliquid Policy Center urged the SEC/CFTC to treat cash-settled equity perps as “security futures,” arguing the economics match futures even without expiry. Stablecoin/Custody Watch: Ceffu reportedly withdrew $120M USDC tied to Ethena/USDe via Coinbase Prime custody, putting collateral-custody rails back in focus. Quantum Security: Treasury launched a Quantum-Readiness Task Force to move financial systems to post-quantum cryptography by 2030–2031, including digital-asset risks. Cyber/Scam Risk: FTC warned that travel scams often demand irreversible payment methods like crypto; NordVPN flagged Android carrier-impersonation malware that can take over devices after install. Fraud/Enforcement: A crypto startup founder behind Block Bits was convicted of fraud, while India’s ED searched premises in a fake tech-support scam using crypto money flows. Macro/Geopolitics: Trump’s “economic D-Day” escalated Iran sanctions, with Treasury targeting sectors including digital assets and warning partners to sever ties or face dollar-system cutoffs.