Three big developments in the overnight crypto circle—each one landing in sequence. The U.S. CLARITY Act failed to clear the Senate, which means regulatory authority over the crypto market has been handed back to the Securities and Exchange Commission and the Commodity Futures Trading Commission. Who gets to set the tone remains to be seen.

Grayscale has split its own Zcash fund and lowered the entry threshold. $ZEC , this privacy coin, has now gained another lifeline on the regulatory road. Visa moved overnight to plug a gray loophole involving Crossmint and its meme-coin rewards, and compliance on the payment side tightened accordingly. Put these three together, and in this single night the crypto industry’s main storyline is “regulatory takeover + consolidation by traditional finance.” Funds have already voted with their feet—staying with those top-tier, licensed, mainstream assets is actually the simplest strategy.

#隔夜要闻 #监管接管 #Early session