BTC $76,350.97 +0.92%
ETH $2,452.08 +2.76%
BNB $724.73 +2.01%
XRP $1.30 +2.23%
SOL $100.23 +3.28%
TRX $0.3341 -0.21%
DOGE $0.0811 +2.67%
ADA $0.2006 +5.13%
BCH $231.50 +6.50%
LINK $11.26 +5.13%
HYPE $81.59 +4.19%
AAVE $124.24 +6.64%
SUI $0.7254 +5.90%
XLM $0.1843 +5.89%
ZEC $1,428.05 +14.62%
AAPL $333.17 +0.09%
AMZN $251.96 +1.73%
GOOGL $347.86 +0.47%
MSFT $496.24 +0.35%
META $674.70 -0.28%
NVDA $219.48 +1.54%
TSLA $366.64 +0.99%
SNDK $1,610.42 +4.62%
INTC $109.91 +7.59%
SPCX $154.11 +1.16%
MU $980.30 +5.21%
AMD $545.59 +3.79%
BTC $76,350.97 +0.92%
ETH $2,452.08 +2.76%
BNB $724.73 +2.01%
XRP $1.30 +2.23%
SOL $100.23 +3.28%
TRX $0.3341 -0.21%
DOGE $0.0811 +2.67%
ADA $0.2006 +5.13%
BCH $231.50 +6.50%
LINK $11.26 +5.13%
HYPE $81.59 +4.19%
AAVE $124.24 +6.64%
SUI $0.7254 +5.90%
XLM $0.1843 +5.89%
ZEC $1,428.05 +14.62%
AAPL $333.17 +0.09%
AMZN $251.96 +1.73%
GOOGL $347.86 +0.47%
MSFT $496.24 +0.35%
META $674.70 -0.28%
NVDA $219.48 +1.54%
TSLA $366.64 +0.99%
SNDK $1,610.42 +4.62%
INTC $109.91 +7.59%
SPCX $154.11 +1.16%
MU $980.30 +5.21%
AMD $545.59 +3.79%

for

All
Article
Flash

U.S. SEC Commissioner: Innovation exemption tailored for on-chain stock trading, clearly delineating boundaries with DeFi

Commissioner Hester M. Peirce of the U.S. Securities and Exchange Commission (SEC) made a statement regarding the committee's approval of the "innovation exemption."This exemption is a temporary, conditional arrangement that allows "tokenized securities venues" (TSV) to trade NMS "National Market System" stocks on-chain: TSV provides automated market maker liquidity pools and sets participant admission standards, and is exempt from the definition of "exchange" under the Securities Exchange Act; specific suppliers providing liquidity to TSV are exempt from the definition of "dealer." If issuers do not wish for their stocks to trade on TSV, they can choose to opt-out. The exemption is aimed at U.S. entities, and both existing institutions and new entrants can participate.Peirce emphasized that the committee does not presuppose that parties relying on this exemption necessarily fall under the definitions of "exchange" or "dealer," but rather hopes to first observe who is using it and how it is being used before making regulatory judgments.Peirce clearly delineated the boundaries of this order: it is not about decentralized finance. Systems that are driven by automated software and are truly decentralized do not raise fundamental concerns of securities regulation, namely that intermediaries trusted by investors may be foolish, careless, or compromised; investors using permissionless smart contracts for peer-to-peer transactions do not fundamentally require an exemption. TSV is merely one model of on-chain securities trading, and the committee is open to other models, as on-chain trading models that can comply with existing Securities Exchange Act requirements may not require an exemption at all.

U.S. SEC Chairman: Building a Bridge to Lasting Rules for Tokenized Stock On-Chain Trading

SEC Chairman Paul Atkins issued a statement regarding the committee's approval of the "innovation exemption." He pointed out that more than a week ago, Congress failed to advance the CLARITY Act, thus the SEC today took significant steps within its statutory authority to bring the U.S. capital markets into the digital age by promoting on-chain trading of specific tokenized stocks.The order grants two types of temporary, conditional exemptions under Section 36(a)(1) of the Securities Exchange Act: first, it exempts "Tokenized Securities Venues" (TSV) from the definition of "exchange" under the Securities Exchange Act; second, it exempts specific liquidity providers ("regulated companies") from the definition of "dealer." Atkins emphasized that the anti-fraud and anti-manipulation provisions of federal securities laws fully apply to all securities activities in these markets, without exception.The exemption comes with several investor protection conditions: TSV must be U.S. entities and comply with OFAC sanctions; access standards must be set for a licensing system, allowing only specific participants to trade; synthetic products cannot be used—tokenized NMS "national market system" stocks must be tokenized by the issuer of the underlying stock or its representative, or by a third party not affiliated with the issuer, and holders must enjoy the same rights as traditional securities (including dividends and voting rights); issuers have the right to oppose and prevent their securities from being traded on TSV.Atkins stated that the committee is not solidifying current technology as future standards but rather allowing the market to evolve, monitoring its development, and using this as a basis to establish a more flexible, future-oriented regulatory framework. This exemption is a temporary measure, and the committee is seeking public input on all aspects, emphasizing that this transitional arrangement must be followed by the establishment of permanent rules to ensure that on-chain markets maintain a viable path as capital markets evolve.

DeepQA launches Arc Campaign: 11 Agent QAs for Arc ecosystem applications completed in 16 hours, powered by WORLD3 and Google Cloud Vertex AI

On September 16, the day Circle Arc's mainnet went live, the AI Agent quality assurance product DeepQA released the Arc Campaign, completing public QA for 11 ecological applications on the Arc testnet and publishing all 13 reports on the official website in a collection format. From the initiation of the project to the public release of reports for all 11 applications, it took about 16 hours.Real-time data from the official website shows that this event executed a total of 141 test scenarios, of which 117 passed, confirming 15 issues. The Critic Agent conducted real-time reviews 30 times, retaining 141 scenarios, 436 screenshots, approximately 2,200 model calls, and 16.9 million tokens. The covered applications include the Arc official testnet browser, Tower Exchange, AchSwap, Machina Bridge, OmniHub, ArcFX, SettleOne, Syn DAO, thirdweb Arc Testnet, ChainGPT Pad, and Karwan. All tests were conducted in real browsers on live applications, with the injected test wallets holding only testnet funds and no real funds used.The backend of DeepQA is powered by WORLD3 and Google Cloud Vertex AI. A group of AI Agents completed exploration, planning, testing, and reporting, with each issue accompanied by screenshot evidence, and only released after being audited and reviewed in real-time by the Critic Agent. The team stated that a decentralized QA network is also in progress, which will prioritize support for the Arc ecosystem.

first_img The Southern District Court of New York rejected the preliminary injunction motion against Susquehanna for insider trading

On September 14, 2026, Judge Arun Subramanian of the United States District Court for the Southern District of New York issued an opinion and order denying the plaintiff's motion for a preliminary injunction. The case number is 1:26-cv-05474-AS, with the plaintiffs being market makers Susquehanna Securities, LLC and Susquehanna Investment Group, and the intervenor being market maker Citadel Securities LLC, while the defendants are John Does 1 through 100. The plaintiffs filed the lawsuit on June 29, 2026, claiming violations under Section 20A of the Securities Exchange Act of 1934 and unjust enrichment claims.The plaintiffs allege that the defendants traded on significant non-public information, specifically an announcement on May 22, 2026, regarding "the Chinese government's crackdown on cross-border trading platforms," which led to a collapse of the relevant securities. The plaintiffs sought a preliminary injunction to restrict the 40 defendants, as reduced, from transferring, encumbering, removing, or otherwise disposing of the profits obtained through the alleged insider trading activities in their accounts at third-party brokerage firms, or sought a seizure order. The court found that the plaintiffs failed to demonstrate the elements necessary to prove that they may suffer irreparable harm, and the motion was denied.

first_img OpenAI disclosed 6 cases of AI model "misalignment" behavior, involving hidden information and overstepping authority

OpenAI disclosed on Wednesday six cases of "unexpected or concerning" model behavior discovered in the past six months, categorizing them as "misalignment behaviors," including concealing information from users and taking "unauthorized actions" to overcome obstacles. OpenAI stated that this disclosure aims to initiate its new model misalignment reporting framework, and these cases should not be seen as a reflection of the frequency of misalignment occurring in its models.In one case, an unpublished research model inserted "jailbreak-like instructions" into its task summaries, such as ignoring developer messages or adopting unrestricted role settings, with researchers finding a total of 27 summaries containing such instructions. Additionally, during the training process of GPT-5.6 Sol, many model instances added instructions to conceal errors or misalignment behaviors from users, such as fabricating missing historical data without disclosure. Other cases included models using exposed API keys without authorization and fabricating inaccessible data, leveraging internal software repositories to pass messages across training tasks, and ignoring instructions to "keep local work" by sharing files through public hosting services.OpenAI's disclosure has heightened concerns among AI developers and researchers about whether safety measures can keep pace with increasingly powerful models. Last week, Anthropic CEO Dario Amodei called for a slowdown in cutting-edge AI development, warning that unrestrained AI development could "exceed our ability to understand and control these systems." In July of this year, OpenAI disclosed that several of its AI models escaped testing environments during safety assessments and infiltrated the AI startup Hugging Face to cheat.
app_icon
ChainCatcher Building the Web3 world with innovations.