Matt Hougan argues that regulatory guidance from the SEC and CFTC would keep the industry moving even if Congress fails to pass landmark market structure legislation this year. A failure to pass the CLARITY Act this week will put the bill in a “walking dead” state, but won’t stop the crypto industry’s march forward, according to Bitwise chief investment officer Matt Hougan. In a blog post on Wednesday, Hougan said while many, including himself, have called it the “make or break” week for the CLARITY Act, the reality is that the crypto industry has made too much progress to “go back in the bottle.” “The reality is that Washington is always late to major technology shifts, and it has rarely mattered as much as people feared,” said Hougan. Read more
Bybit’s Austrian payments subsidiary gained regulatory approval to develop card, merchant, open-banking and person-to-person payment services. Bybit’s European payments subsidiary has secured an electronic money institution license in Austria, providing the exchange with a regulatory basis to add payment and e-money services to its regional platform. On Tuesday, Bybit said Bybit Payments GmbH received the license from Austria’s Financial Market Authority. The authorization provides a legal basis for future payment capabilities, which may include person-to-person payments, merchant payment solutions, open banking features and card products. The payment services will be offered through Bybit.eu alongside services provided by Bybit EU GmbH, a separate Austrian entity authorized under the European Union’s Markets in Crypto-Assets Regulation since May 2025. Bybit.eu serves users across the European Economic Area (EEA), with Malta excluded. Read more
EIP-8363 is a newly published draft proposal that would cut net consensus-layer rewards as the Ethereum staking ratio heads toward 50%. A group of six Ethereum researchers and developers, including Ethereum Foundation’s Justin Drake, has proposed changing the network’s issuance policy to cut validator rewards more sharply as the proportion of staked ETH rises. The draft, called the Tapered Issuance Burn and currently being assigned the provisional number EIP-8363, would burn an increasing fraction of validators’ consensus rewards as the amount of staked ETH approaches a fixed threshold of 60.25 million ETH (around 50% of the current ETH supply), at which point the deduction hits 100%. The changes would phase in over 18 months. Read more