Since September 17th, when the U.S. Congress failed to pass the Crypto Transparency Act, a series of significant events have occurred: On September 17th, SEC allowed for limited on-chain trading of tokenized U.S. stocks; CFTC enabled developers to build passive derivatives software without registering as brokers, including applications for the crypto market; SEC Chairman Atkins stated that tokenization regulations are moving towards a long-term framework. On September 18th, CFTC submitted new crypto market regulations for review by the White House; on September 23rd, CFTC Chairman Selig indicated that the agency is establishing clear rules for the crypto market structure and outlined plans for a 24/7 on-chain tokenized financial market; the Trump administration considered promoting dollar-backed stablecoins internationally. On September 24th, CFTC issued updated guidelines regarding the preservation of tokenized assets and blockchain records; the Federal Reserve proposed regulations for stablecoin issuers; on September 25th, SEC staff released the latest guidance on how securities laws apply to crypto; SEC commissioners called for an end to the large-scale collection of sensitive KYC data.