Regulation & Policy

Brazil has postponed its crypto tax consultation to 2027 due to election pressures, despite implementing a 17.5% capital gains tax and classifying stablecoins as foreign exchange. Crypto adoption remains robust, with significant inflows and growth.

CFTC permits Bitcoin, Ethereum, and stablecoins as margin collateral with strict valuation haircuts and risk controls applied. Stablecoins receive lower capital charges than BTC and ETH, reflecting reduced volatility in margin calculations. Firms must meet reporting, cybersecurity, and ap

U.S. regulators established a framework to classify digital assets into five groups, enhancing jurisdiction clarity. This includes commodities overseen by the CFTC and securities by the SEC, with special treatment for stablecoins and utility tokens based on usage.

Brazil's Finance Minister Dario Durigan has suspended new crypto tax policies until after the 2026 presidential election to avoid divisiveness. Previously proposed public consultations on crypto taxes may now be postponed until 2027, while the country navigates its growing crypto landscape.

The tentative agreement on stablecoin rewards revives the stalled CLARITY Act, yet unresolved issues threaten its passage as the industry faces a tight deadline for comprehensive legislation this year.

Lawmakers have reached a bipartisan agreement to resolve the stablecoin yield dispute, a key roadblock for crypto legislation. The deal, involving Senators Tillis and Alsobrooks, aims to balance innovation and banking stability while moving the CLARITY Act forward. Further industry review is needed before finalizing details.

美國證券交易委員會（SEC）發布68頁的解釋文件，說明聯邦證券法對特定加密資產及交易的適用性，並強調非證券加密資產的概念。SEC與CFTC協調制定分類框架，明確協議挖礦、質押等活動的法律地位，提升市場透明度，旨在回應市場對規範的需求。

美國證券交易委員會主席保羅·阿特金斯提出新加密資產監管框架，釐清哪些代幣不屬於證券，並透過「新創豁免」和「投資契約安全港」等措施簡化合規路徑，旨在為加密企業提供更清晰的募資指導，顯示SEC在監管上的政策轉向。

美國商品期貨交易委員會（CFTC）近期發布FAQ，釐清加密貨幣在衍生品市場作為保證金的使用細則，明確比特幣與以太坊的資本扣除率為20%，穩定幣為2%。試行計畫於前三個月僅限三種幣種，三個月後則擴充幣種並放鬆申報要求，符合條件的加密資產可作為保證金，標誌著美國金融體系對區塊鏈資產的逐步接納。

Gate News 消息，3 月 22 日，巴西财政部长透露，该国将把加密货币税收政策的决定推迟至今年 10 月总统选举之后。巴西将于 2026 年 10 月举行总统选举，政府决定在选举结束后再就加密货币税收政策作出最终决定。

美国证券交易委员会（SEC）与商品期货交易委员会（CFTC）联合发布的加密资产解释指导文件将于3月23日生效，取代2019年发布的框架，为市场参与者提供明确的监管指导，推动加密行业合规发展。

Gate News 消息，3 月 22 日，据加密记者 Eleanor Terrett 在 X 平台发文，美国国会金融服务委员会计划于下周三上午 10 点（东部时间）举行关于代币化（tokenization）的听证会。区块链协会首席执行官 Summer Mersinger 将作为受邀证人出席本次听证会。

美国商品期货交易委员会（CFTC）发布了关于加密资产作为抵押品的试点项目指导，允许比特币、以太坊及稳定币作为保证金。期货经纪商需遵守资本要求、合规报告义务，并在三个月后可扩展其他加密资产作为抵押，细化了加密资产的用途和衍生品清算要求。

A Nevada court issued a temporary restraining order against Kalshi, preventing it from offering event-based contracts without proper licensing. This reflects growing regulatory scrutiny on prediction markets, which face challenges in classification and regulation, especially concerning gambling laws.

Lawmakers and regulators are making progress on crypto policy, with a stablecoin yield proposal anticipated soon. The SEC and CFTC classified most crypto assets as non-securities, designating several as digital commodities.

美国商品期货交易委员会主席Mike Selig在X平台宣布，CFTC发布了针对加密资产和区块链业务的FAQ，提供合规指引，涵盖代币化抵押品等核心议题，旨在为市场参与者建立明确的操作框架。

CFTC permits Bitcoin, Ethereum, and stablecoins as margin collateral with strict valuation haircuts and risk controls applied. Stablecoins receive lower capital charges than BTC and ETH, reflecting reduced volatility in margin calculations. Firms must meet reporting, cybersecurity, and

Senator Cynthia Lummis announced that the Senate Banking Committee will advance the CLARITY Act after Easter. Key issues like stablecoin yield and DeFi regulations have been resolved, aiming for passage by year-end despite legislative delays.

Lawmakers have reached a bipartisan agreement to resolve the stablecoin yield dispute, a key roadblock for crypto legislation. The deal, involving Senators Tillis and Alsobrooks, aims to balance innovation and banking stability while moving the CLARITY Act forward. Further industry review is needed before finalizing details.

Gate News 消息，3 月 21 日，某 CEX 首席执行官 Vlad Tenev 发推表示，行业正处于发展的重要转折点。他指出，若国会通过《CLARITY 法案》，行业将最终获得一直倡导的监管确定性。他认为，当前关键争议在于决定客户是否应从其持有的稳定币中获得收益。