Bullish (US Market Structure): The Senate Banking Committee’s advancement of the CLARITY Act signals a major step toward statutory certainty. Prioritising everyday market participants, the legislation brings digital assets into the US regulatory framework. While this imposes new compliance burdens, the statutory mandates for timely disclosures, educational infrastructure, and anti-fraud protections establish clear rules of the road that will build long-term retail and market

Executive Summary This briefing analyses the formal statement issued by the European Securities and Markets Authority (ESMA) on 1 July...

1. Executive Summary On July 11, 2025, the European Securities and Markets Authority (ESMA) issued its final report on the guidelines...