Ordering Power Is Sanctioning Power

The crypto legal roundtable covers SEC-CFTC margin harmonization, the concept of 'ordering power is sanctioning power' in stablecoin freezes, AI export controls, a CLARITY Act stall, and Europe’s MiCA deadline. The discussion highlights regulatory crosscurrents that could shape crypto markets but yields few directly tradable expressions. - SEC and CFTC seek public comment on harmonizing portfolio margin rules, potentially benefiting crypto derivatives. - An academic paper argues stablecoin freezes can be frontrun, making sanctions enforcement less effective. - Export controls on AI models (e.g., Fable) raise concerns about government choke points for crypto access. - The CLARITY Act faces new political hurdles in the Senate, reducing chances of quick passage. - Europe’s MiCA licensing framework is now fully operational, providing clearer rules for crypto firms.