CFTC updates guidance on tokenized assets, blockchain records after failed vote
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NYSE Taps Blockchain.com to Reach Crypto Investors With Tokenized Stocks
Blockchain.com and NYSE Group signed a preliminary agreement to give the crypto exchange's users access to tokenized U.S. stocks and ETFs, pending regulatory approval.
NYSE, Blockchain.com in tie-up to bring tokenized US stocks to crypto users
Blockchain.com users could gain access to tokenized US stocks and ETFs through NYSE’s planned digital trading platform under a new partnership, as bourses rush to deliver new trading.
The CFTC chairman criticized Illinois' 0.2% cryptocurrency transaction tax, saying it hinders technological progress.
Odaily Odaily reports that Michael Selig, chairman of the U.S. CFTC, criticized Illinois for passing a 0.2% tax on crypto transactions, saying that the state's lawmakers have "put the brakes on technological progress" and disadvantaged the state's residents in future digital asset innovation. Illinois Governor JB Pritzker signed the Digital Asset Tax Act last month as part of the state's fiscal year 2027 budget plan. The act will impose a 0.2% tax on crypto transactions and is scheduled to take effect in January 2027. Selig stated that just as the internet transformed how information is transmitted, blockchain will transform how value is transferred. In the future, almost all assets, from commodities and currencies to stocks and bonds, could potentially be tokenized. He believes that Illinois' move deviates from Washington's direction of promoting digital asset innovation and could lead to a flow of capital, businesses, and technical talent to other jurisdictions. Previously, industry organizations such as the Crypto Council for Innovation, Digital Chamber, and the Illinois Blockchain Association had strongly opposed the tax, stating that it could become one of the harshest and most anti-crypto state-level tax systems in the United States. (The Block)
The CFTC has charged a North Carolina man with a $14 million cryptocurrency and futures fraud.
According to Odaily Odaily, the U.S. CFTC has filed a lawsuit against Trevor Vernon, a North Carolina man, and his company, Argent Capital Management LLC, accusing them of defrauding approximately 60 investors of $14 million through a fake commodity Ponzi scheme. According to a complaint filed Tuesday in the U.S. District Court for the Western District of North Carolina, Vernon and his company operated commodity pools involved in trading across multiple asset classes, including stock index futures options, stock index futures contracts, and crypto assets. The CFTC stated that Vernon misled investors by claiming to be a "successful trader" through quarterly financial updates and monthly performance review emails, but in reality, he consistently incurred significant losses when using investor funds for trading. Regulators said Vernon had lost at least $8.6 million in futures, options, and crypto trading. The CFTC stated that its actual trading results were "consistent and catastrophic losses," significantly inconsistent with the profitability it presented to investors.
Ondo Perps has officially launched, becoming the first perpetual contract platform to support tokenized stocks as margin for derivatives.
ChainCatcher reports that Ondo Perps has officially launched and is now open to non-US investors. As the first perpetual contract platform to support tokenized stocks and stablecoins as collateral for derivatives, Ondo Perps aims to drive the on-chain derivatives market into a new era of capital efficiency. Its core advantages include: tokenized stocks as collateral, eliminating the need to maintain separate cash reserves across multiple platforms; market depth comparable to traditional finance, achieving extremely low spreads and slippage; and execution speed comparable to top-tier crypto CEXs, with real-time processing of order routing, margin updates, and settlement, while ensuring decentralization. Currently, Ondo Perps supports assets including stocks, indices, and commodities such as SPCX, MU, NVDA, TSLA, AAPL, gold, and crude oil, offering leverage up to 20x and providing 24/7 trading for global investors. Ondo Perps is built on Ondo Finance technology, with Ondo Global Markets providing the underlying tokenized stock infrastructure, and a total TVL exceeding $1 billion. Ondo Perps, as the next layer of the ecosystem, enables tokenized assets to not only remain in the holding stage, but also to function as collateral on a unified trading platform.
The South African Revenue Office has released tax guidelines for crypto assets, potentially subjecting approximately 6 million users to audits.
Odaily Odaily that the South African Revenue and Taxation Office (SARS) released a draft guidance on cryptocurrency taxation on July 1, 2026, proposing compliance rules for approximately 5.8 million to 6 million cryptocurrency users in South Africa, with a public comment period open until August 31, 2026. Under the updated framework, crypto assets are classified as intangible assets, not foreign or traditional currencies, and taxpayers are not required to pay tax on unrealized gains or losses while simply holding the assets. Tax obligations are triggered upon disposal of the assets. If an individual's crypto activity is deemed similar to business activities or short-term day trading, profits will be classified as gross income and taxed at marginal rates ranging from 18% to 45%. If crypto assets are held as long-term investments, capital gains tax will be levied on disposal gains, with an effective individual tax rate ranging from 18% to 36%. The draft also treats the exchange of crypto assets as a barter transaction, with tax consequences arising immediately at the local market value at the time of exchange. SARS announced the deployment of a Crypto Revenue Augmentation Unit to track and audit digital wallets, and urged taxpayers who had previously failed to disclose crypto earnings to complete their filings through a voluntary disclosure program to avoid administrative penalties from increased enforcement after the August deadline. (Bitcoin.com News)