JPMorgan CEO Jamie Dimon said banks intend to oppose the CLARITY Act as currently written, arguing it would let crypto companies offer stablecoin-based rewards without the same regulatory safeguards banks must meet. He added the bill falls short on anti-money-laundering oversight and does not adequately address requirements under the Bank Secrecy Act. Dimon also took aim at Coinbase CEO Brian Armstrong, criticizing his lobbying campaign backing the legislation.

SEC Chair Paul Atkins said he is confident the Clarity Act will move through Congress and be signed into law by President Trump.

## Market Snapshot In the "Bitcoin Future Price Predictions" market, YES shares are currently priced between 3.6% and 14.5%, varying by the target price for December 31, 2026. Recent trading points to a modest uptick in conviction, with YES pricing higher across every submarket. ## Key Takeaways – Approval of the first onshore Bitcoin perpetual contract is seen as a meaningful step toward reducing regulatory uncertainty. – Market pricing implies clearer rules could support greater institutional participation by providing U.S. investors more defined access. – The shift aligns with scenarios in which Bitcoin price expectations trend higher. Advertisement ## Article Body The Commodity Futures Trading Commission (CFTC) has approved the first onshore Bitcoin perpetual contract, marking a major regulatory milestone for the U.S. crypto industry. The decision comes alongside more explicit guidance intended to better connect U.S. investors with global crypto markets. Perpetual contracts, first introduced in 2016, have largely developed outside the U.S. as regulatory ambiguity pushed substantial liquidity offshore, reshaping trading flows and market structure. Greater clarity could draw more institutional participants, improve liquidity conditions, and support a steadier trading environment. The move also signals a potential inflection point for U.S. competitiveness in crypto derivatives. ## Market Interpretation The CFTC's approval is viewed as supportive of YES outcomes in markets forecasting higher Bitcoin prices by December 31, 2026. By lowering regulatory uncertainty and potentially expanding participation and liquidity, the development could add upward pressure to prices. The impact is assessed as Moderate to High, reflecting the scale of the regulatory shift and the likely boost to investor confidence. ## What to Watch Next steps will hinge on U.S. policymakers and regulators, including the Federal Reserve and Congress. Traders will be watching for additional rulemaking, institutional adoption signals, and any further announcements affecting crypto market access. Federal Reserve rate decisions and any congressional action on cryptocurrency legislation remain key indicators of broader risk sentiment. Get prediction market intelligence as a structured API feed. Early access waitlist .

South Korea is stepping up enforcement against trading bots that thin out crypto exchange order books, as the Digital Asset Exchange Alliance (DAXA) tells member platforms to shut down API keys suspected of being shared or loaned. Regulators and exchanges are targeting a specific pattern of abuse: programmatic access passed to third parties that place and cancel large buy orders to create the appearance of demand, then sell into the resulting price pop—classic spoofing at scale. The Financial Supervisory Service estimates automated trading now makes up about 30% of domestic crypto turnover. Upbit, Bithumb, Coinone, Korbit, and Gopax will apply a tiered response ranging from enhanced monitoring and re-verification to mandatory API key expiration. Exchanges will also expand IP whitelisting so API keys work only from pre-registered addresses. The measures do not ban API-based trading.

Paul S. Atkins, speaking under the SEC's banner, said he is confident Congress will move to adopt the CLARITY Act, which would allow the President to sign the bill into law.

SEC Chair Paul Atkins said he expects Congress to pass legislation establishing a market structure framework for cryptocurrencies, and said he is confident President Trump will sign the measure into law.

SEC Chair Paul Atkins said he believes Congress will advance the Clarity Act and that President Trump will sign the bill into law.

The Trump administration is taking a firm stance against a Federal Reserve-issued central bank digital currency (CBDC). The Senate has passed legislation that would prohibit a U.S. CBDC through 2030, reflecting concerns that a state-issued digital currency could enable government surveillance. Treasury Secretary Scott Bessent reiterated the position at a recent press conference, saying the administration has been "very clear" that "there will be no Central Bank Digital Currency," arguing it could be "the first step toward tracking." He said the focus has shifted to stablecoin legislation and the CLARITY Act as the "important thing" to attract crypto investment back to the United States. CBDCs are often compared to stablecoins, but with a key difference: they are issued by governments rather than private companies such as Circle or Tether. Proponents say CBDCs can strengthen monetary sovereignty and give policymakers additional tools to manage money supply, similar to how fiat currency is used in inflation responses. Critics point to design proposals such as backdoor account freezing and expiration features intended to discourage hoarding, warning they could expand state monitoring. Globally, the debate is increasingly centered on whether central banks should pursue wholesale CBDCs, designed for high-value transactions among governments and major financial institutions, or retail CBDCs that would operate more like consumer-facing alternatives to stablecoins. With stablecoins already widely adopted, many policymakers see stronger near-term rationale in wholesale models aimed at cross-border payments between large banks and governments. Most central banks are exploring wholesale payment infrastructure through Project Agora, backed by the Bank for International Settlements (BIS). It remains uncertain whether CBDCs will be included when live testing begins. As of late 2025, 91% of central banks were exploring CBDCs. In 2026, Kenya, the Philippines, Canada, Denmark, Norway, Finland, and the U.S. cancelled their CBDC plans, though the U.S. could revisit the idea after 2030. According to CBDC Tracker data, only four countries have launched a CBDC: Nigeria, Kazakhstan, Jamaica, and the Bahamas. Most other efforts remain in research or pilot stages, including China's e-CNY and India's e-rupee. In summary, Bessent said the U.S. will not pursue a CBDC under the Trump administration and will instead prioritize stablecoin regulation. Globally, roughly 100 countries are studying, developing, or piloting CBDCs.

Texas is moving from talk to execution on a state-run Bitcoin reserve. Acting Texas Comptroller Kelly Hancock said May 28 that the state has created the Texas Strategic Bitcoin Reserve Advisory Committee, a five-member body established under Senate Bill 21. The group will advise Texas on how to value, safeguard and administer Bitcoin as a public-sector asset. The committee brings together voices from mining, finance and academia. Among the appointees is Gary A. Vecchiarelli, president and CFO of CleanSpark, one of the largest publicly traded Bitcoin miners in the U.S. Jamie McAvity, CEO of Cormint Data Systems, adds another mining seat; Cormint operates Bitcoin mining facilities in Texas. Investment professional Laurie Dotter also joins. Carla Reyes, an SMU law professor specializing in digital asset policy, is another named member. The committee is charged with recommendations across four areas: Bitcoin valuation, risk management, digital asset management and custody policy. The panel's formation follows passage of Senate Bill 21 during the 89th Texas Legislature, legislation that set the legal foundation for establishing and maintaining a strategic Bitcoin reserve. At the same time, Hancock's office issued a request for proposals seeking firms to provide custody and liquidity services for the state's Bitcoin holdings, with an emphasis on institutional-grade security and transparent public reporting. For investors, the roster offers clues about Texas' direction. The presence of two mining executives suggests the state is viewing Bitcoin in the context of its energy and infrastructure footprint, not solely as a financial allocation. The inclusion of a digital-asset policy scholar points to heightened attention to regulatory and governance issues at the state level. Two near-term developments merit attention: which providers win the custody and liquidity RFP, and whether other large states pursue similar legislation.