Senate Republicans push finance watchdogs to clarify crypto capital rules

- Senate Republicans, led by Sen. Lummis, are filing Form 10-K for the crypto industry, demanding regulators clarify capital rules for on-balance sheet digital assets. This isn’t just bureaucratic theater; it’s a direct appeal to the SEC and CFTC to stop treating crypto like a liability and start treating it like an asset. For compliance officers, this means preparing for audits that might finally acknowledge Bitcoin as more than a speculative footnote. If regulators don’t clarify these capital requirements, expect more fines than filings. «Compliance theater sold separately.» The clock is ticking on this regulatory paperwork.