OpenAI releases GPT-6 Sol and Luna models

[U.S. Officials: Clarity Act Unlikely to Pass During Lame-Duck Session, Regulatory Focus Shifts to Existing Laws] White House cryptocurrency advisor Patrick Witt and U.S. Treasury Assistant Secretary Luke Pettit stated that the likelihood of the Clarity Act passing during Congress's lame-duck session is very low. The regulatory focus has shifted to relying on executive agencies and existing legal frameworks to advance compliance, with regulatory bodies like the SEC and CFTC expected to operate under their existing legal mandates. (Source: Bloomberg)

The US Treasury Department stated that the size of short-term government securities held by stablecoin issuers has approached $200 billion, and is expected to increase with the finalization of the GENIUS Act rules.

Taylor Lindman, Chief Legal Advisor of the US Securities and Exchange Commission's (SEC) Crypto Working Group, stated that the SEC is advancing rules for custody of cryptocurrency assets, and the related proposals have been submitted to the White House Office of Management and Budget (OMB) for review, covering investment firms and broker dealers. This rule aims to clarify the registration requirements for broker dealers to hold non securities encrypted assets and allow investment advisors to store client assets in state chartered trusts. After the proposal is reviewed, the SEC will solicit opinions from the public. The SEC has issued an employee statement guiding broker dealers in handling cryptocurrency custody and allowing investment advisors to store client assets in state chartered trusts.

Hedge fund Calamos stated on CNBC that major global banks such as JPMorgan and Morgan Stanley have begun to fully participate in the Bitcoin business and provide related lending services. (Source: CNBC)

BMO, CIBC, National Bank of Canada, Royal Bank of Canada, Scotiabank, and TD Bank Group are jointly exploring the development of a tokenized CAD deposit system, aiming to enable faster and programmable payment processes between financial institutions. The Office of the Superintendent of Financial Institutions (OSFI) issued a statement saying that tokenized deposits are legally no different from conventional deposits. Tokenized deposits represent funds held within regulated banks and are considered bank liabilities, which distinguishes them from fiat-collateralized stablecoins issued by third parties. (Source: Cointelegraph)