Taylor Lindman of the @SECGov Crypto Task Force says much of the agency’s crypto agenda falls within its existing authority. CLARITY would have accelerated that work, but the SEC doesn’t need it to move forward. “So much of this is within our existing authority.”

🎥 @RepFrenchHill says tokenization has gone from a “futuristic” concept debated during FIT21 and CLARITY to something happening in real time. “We might actually tokenize like a real security or something. Yeah, we're doing it right now.”

.@​michaelterpin predicts Bitcoin will pass $120K before the 2028 halving, likely by Q4 2027. “I just don't see any scenario where it's gonna take, you know, 20 months for us to get back to 126K.”

"So much of this is within our existing authority." On this week's @CoinDesk Policy Protocol, Taylor Lindman Chief Counsel of the SEC's Crypto Task Force, joins @RebeccaRettig1 and @renato_mariotti to break down the innovation exemption, why the SEC isn't waiting on CLARITY, and how permissioned pools, non-custodial interfaces, and liquidity-provider relief all snap together. Chapters/Timecodes: 00:00 Welcome to The Policy Protocol 01:09 Hot Topic: CLARITY Stalls in the Senate 02:06 The Ethics Fight That Sank the Bill 03:28 Why the Regulators Are Now Leading 03:47 How Hard It Is to Undo a Rule 05:13 EU Rolls Back MiCA as the UK Pushes Ahead 05:52 The SEC and CFTC Roundtable Blitz 06:46 Taylor Linman, SEC Crypto Task Force, Joins 06:56 The Innovation Exemption and Its Reception 08:52 What the SEC Can Do Without Congress 11:11 Inside the 24/7 Trading Roundtable 12:00 Liquidity Providers, Dealers, and the Cold Start Problem 13:31 Piecing Together the Future of On-Chain Trading 16:17 Does Peirce's Exit Change the Task Force? 17:04 Debrief: Plumbing, Not Main Character Energy 18:28 Person of the Week: Demis Hassabis 20:05 Does AI Need Its Own Regulator?

🎥 @RepRitchie Torres says the CLARITY Act’s failure had multiple causes, but argues President Trump was the decisive factor. “Were it not for Donald Trump, we likely could have seen both Democrats and Republicans get to yes.”

🎥 @SenLummis says the crypto industry has become a powerful force on Capitol Hill powerful enough that traditional banking interests are taking notice. “When you have bankers, they're afraid of you now, which kind of makes me happy.”

Bitcoin has a scarcity problem that @michaelterpin says the market hasn’t fully priced in: “There's 28 million millionaires and only 21 million Bitcoin.” Thank you to @Grayscale for being a sponsor of the CoinDesk Media Network.

24/7 trading needs 24/7 collateral. @GSR_io’s Managing Director @baehr explains why tokenized Treasuries and money market funds could help keep collateral productive, enable weekend trading and reduce risk as markets move toward an always-on model. @jennsanasie brings you this week’s Brand New Rails.

UPDATE: An autopsy has determined that Hsin-Ju Chuang, former partner at crypto VC firm Hack VC, died by suicide on August 24. The California Highway Patrol says its investigation into the circumstances remains ongoing. @JamieCrawleyCD reports.

NEW: @Coinbase tokenized stocks are now live as collateral on @Aave V4 on @Base, letting eligible non-U.S. users borrow $USDC against real equity holdings, with @Chainlink providing price feeds.

JUST IN: @Circle Foundation partners with the UN Development Programme and World Food Programme to pilot stablecoin payments for humanitarian aid delivery, testing $USDC based disbursements in conflict zones and low-connectivity regions.

LATEST: Michael @Saylor's @Strategy proposes daily dividend accrual on $STRF, $STRC, $STRK and $STRD, including weekends and holidays, paid the next business day, with economics unchanged.

NEW: @Ethena partners with @Binance to back $USDe with tokenized stocks as spot collateral, hedged with equity perpetuals, bringing the same delta-neutral structure it uses for crypto to real-world assets.

INSIGHT: SEC Commissioner Hester Peirce calls for a rethink of KYC and AML oversight. She argues the "more data, the better" approach creates haystacks too big to find needles, and that zero-knowledge proofs could verify compliance without exposing personal data.