The U.S. Supreme Court ruled 6–3 that President Trump exceeded his authority in using emergency powers to impose sweeping global tariffs, undercutting a central plank of his trade policy. Stocks rose on the prospect of reduced tariff headwinds, while Treasurys and the dollar dipped; a lower court will decide whether importers can recover as much as $170 billion in refunds. The White House has signaled it will seek alternative tools, but those are likely to be narrower or more cumbersome than IEEPA-based powers.
Source: Crain’s New York Business
SEC clears 2% capital haircut on broker-dealer stablecoin holdings
The SEC’s Division of Trading and Markets said it would not object if broker-dealers apply a 2% “haircut” to proprietary positions in certain stablecoins for net capital calculations. The move aligns treatment closer to money market instruments, easing balance-sheet frictions and potentially accelerating broker use of blockchain rails for settlement and tokenized securities. Commissioner Hester Peirce called stablecoins “essential to transacting on blockchain rails,” framing the step as a practical catalyst for institutional activity.
Source: FinanceFeeds
CME to launch 24/7 trading for Bitcoin and Ether derivatives
CME Group will begin round-the-clock trading for regulated crypto futures and options on May 29, adding continuous access with only a brief weekend maintenance window. The change aims to eliminate “weekend gaps” between unregulated spot markets and U.S. derivatives hours, giving institutional hedgers and arbitrageurs synchronized risk management. CME processed more than $3 trillion in notional crypto volume in 2025 and says the move could shift liquidity from offshore perpetuals toward U.S.-regulated venues.
Source: FinanceFeeds
BNP Paribas pilots tokenized money market fund shares on Ethereum
BNP Paribas Asset Management issued a tokenized share class of a French-domiciled money market fund on Ethereum under a permissioned access model. The one-off intra-group test used the bank’s AssetFoundry platform to connect issuance, transfer agency, and onchain settlement while restricting participation to authorized investors. The pilot underscores how large asset managers are moving from private-ledger trials to controlled use of public blockchain infrastructure.
Source: FinanceFeeds
Federal court shields Kalshi’s sports markets from Tennessee enforcement in early win for prediction platforms
A U.S. district judge temporarily blocked Tennessee officials from enforcing state gambling laws against Kalshi’s sports event contracts, finding the products likely fall under the Commodity Exchange Act’s swap framework and CFTC jurisdiction. The injunction follows growing clashes between states and federally regulated event-contract venues, with the CFTC recently asserting “exclusive jurisdiction” in an amicus brief. The ruling lets Kalshi continue offering sports markets in Tennessee while litigation proceeds.
Source: FinanceFeeds
LSEG debuts Model‑as‑a‑Service; Societe Generale joins analytics marketplace
The London Stock Exchange Group launched a Model‑as‑a‑Service marketplace to host and distribute third‑party and proprietary analytics with governed access, starting with seven Societe Generale datasets across fixed income, FX, ESG and equities. Powered via LSEG’s Microsoft partnership and MCP connectors, models can be embedded into AI tools such as Copilot Studio for secure, at‑scale deployment. The offering aims to streamline model commercialization, compliance, and integration for buy- and sell-side clients.
Source: FinanceFeeds
Anchorage Digital rolls out federally overseen stablecoin rails for international banks
Anchorage Digital launched “Stablecoin Solutions,” giving licensed international banks access to OCC‑supervised mint, redeem, custody and settlement capabilities for USD stablecoins alongside fiat treasury tools. The platform is stablecoin‑agnostic and designed to reduce reliance on correspondent banking by enabling programmable, near‑instant cross‑border settlement with segregated, bankruptcy‑remote custody. As U.S. policy coalesces, the move positions regulated stablecoins as core infrastructure for institutional payments and liquidity management.
Source: FinanceFeeds
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