Laws move slower than markets. But they hit harder. This is issue #78 of The Bitcoin Act — your Tuesday and Sunday briefing on the legal and regulatory moves that actually shape Bitcoin.

Now for today’s top stories:

🇺🇸 Hill: only ethics remains
The House Financial Services chairman says both parties have narrowed differences on the CLARITY Act.

🇦🇺 ASIC warns: license or pay
Australia's regulator told firms handling Bitcoin to file license applications by September 30 or face fines reaching 10% of turnover.

🇵🇱 Poland's minister blames opposition party
Finance Minister Domański says Law and Justice put business interests above citizens' safety by defending the vetoes leaving Poland unregulated.

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Scott Bessent (US Treasury Secretary; G20 chair, 2026) released a G20 statement committing members to regulatory frameworks creating clear pathways for digital financial innovation while preserving financial stability.

Troy Wellman (President, National Sheriffs' Association; Sheriff, Moody County, South Dakota) said his association dropped opposition to the CLARITY Act, the bill dividing US market oversight, and is now neutral.

Rep. French Hill (R-AR; Chairman, House Financial Services Committee) said Democrats and Republicans have narrowed their differences on the CLARITY Act, leaving the ethics provision as the last significant issue.

Sen. Cynthia Lummis (R-WY) said the CLARITY Act would require qualified custodians and segregated customer funds, meaning exchanges must keep client holdings separate from their own.

Alex Thorn (Head of Firmwide Research, Galaxy) warned that House Republicans canceled late-September votes, making CLARITY Act passage before the midterm elections extremely unlikely even if the Senate acts.

Sen. Kevin Cramer (R-ND; Senate Banking Committee) said the CLARITY Act has a good chance of passing before the elections if the Senate clears the September 15 cloture vote, the procedural step that ends debate and needs sixty votes.

Australian Securities and Investments Commission (ASIC, Australia's financial regulator) warned digital asset firms to file license applications by September 30 or risk penalties reaching ten percent of annual turnover.

Andrzej Domański (Minister of Finance and Economy, Poland) accused the Law and Justice party of choosing the interests of the crypto business over the safety of Poles by backing President Nawrocki's vetoes, which have left the country without a national supervisor for the market.

Grayscale, 21Shares and a16z (two digital asset managers and a venture capital firm) asked the Securities and Exchange Commission to speed up its review of new exchange-traded products, arguing the current timeline lags how fast markets move.

Colleen Kollar-Kotelly (Senior US District Judge) refused to let the Commodity Futures Trading Commission withhold its administrative record, the internal file behind a decision, in CME's perpetual futures lawsuit.

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🇸🇻 $140 million – The International Monetary Fund will release $140 million to El Salvador after the country showed that every Bitcoin added since June 2025 came from private donations, not public funds. IMF

🚔 $560,000 – The United States Justice Department has seized $560,000 in crypto raised for Hamas and taken over the group's donation websites and servers to intercept future payments. CoinDesk

📊 $12.7 billion – The Treasury's Financial Crimes Enforcement Network tied $12.7 billion in suspected digital asset investment scam activity to 33,904 reports filed since September 2023. FinCEN

🏛️ $8.65 billion – Americans reported $8.65 billion in crypto investment fraud losses in 2025, up 89% since 2023, pushing the United States and United Kingdom into a joint enforcement pact. Justice.gov

🧊 112 days – A lawsuit filed in New York alleges Tether blacklisted ten addresses holding $42.4 million of its dollar token on an informal Homeland Security Investigations request, with a seizure warrant arriving 112 days later. TFTC

🇸🇻 September 7 — Fifth anniversary of El Salvador's Bitcoin Law — Bitcoin became legal tender there on this date in 2021, the first country to do it.

🇬🇧 September 7 — Financial Conduct Authority webinar: admissions, disclosures and market abuse for cryptoassets — Free session on the UK rules governing what counts as market manipulation.

🇬🇧 September 7-11 — Fintech Week London — Banks, regulators and fintechs, with the flagship summit September 9-10. Coinbase UK chief executive Keith Grose speaks.

🇳🇬 September 7-12 — Lagos Blockchain Week — Africa's largest event of its kind, focused on tokenisation rather than Bitcoin. Nigerian policymakers attend, so listen for enforcement signals.

🌐 September 9 — Crypto Tax Forum 2026, online — One day on crypto taxation. Matters if you ever sell sats: enforcement thinking here becomes reporting rules later.

🗽 September 10 — UN Blockchain Week opens, Times Square, New York — Programming spans Bitcoin, artificial intelligence and energy. Despite the name, no United Nations affiliation.

🇬🇧 September 11 — Financial Conduct Authority webinar: UK Stablecoin Issuance — Free session on the rules for issuing sterling stablecoins. Relevant because stablecoin issuers can freeze tokens at a request.

🇺🇸 All week, closing October 20 — Securities and Exchange Commission comment window on proposed Regulation Crypto Assets — Anyone can file a public comment on the token offering rules.

"All rational action is in the first place individual action. Only the individual thinks. Only the individual reasons. Only the individual acts." — Ludwig von Mises

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