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A deal between VersaBank (TSX:VBNK,NASDAQ:VBNK) and Stablecorp Digital Currencies could be one of the clearest signals yet that Canadian dollar stablecoins are moving into the regulated financial mainstream.

On Tuesday (February 3), VersaBank signed a definitive agreement to act as custodian for QCAD, Stablecorp’s Canadian‑dollar‑pegged stablecoin, using its proprietary VersaVault digital asset custody platform.

For investors, the announcement is a sign that the Canadian decentralized finance (DeFi) industry is positioning itself for the next phase of the stablecoin boom.

Agreement terms and immediate impact

Under the terms of the agreement, VersaBank will hold and safeguard the reserve assets backing QCAD through the Ontario-based QCAD Digital Trust, which will manage those reserves on behalf of QCAD holders.

The company will provide safekeeping and custodial services using its VersaVault technology, which it describes as a highly secure solution with Systems and Organization Controls 2 certification that has been designed specifically for digital asset custody. Put simply, VersaVault will become the vault, while the QCAD Digital Trust and Stablecorp will remain responsible for governance, issuance and compliance.

For VersaBank, the arrangement creates a new revenue stream, allowing it to earn custody fees based on the value of QCAD assets held, along with a spread on QCAD‑related deposits. That income will be added to its net interest income on cash and securities rather than its lending‑related margin.

For Stablecorp, the main takeaway is the regulatory optics: QCAD is already marketed as Canada’s first regulatory‑compliant, Canadian-dollar‑pegged stablecoin, and now its reserves will be held by a federally regulated Schedule I bank rather than a crypto‑native custodian.

Strategic and market implications

Stablecorp markets QCAD as a compliant, bank-grade Canadian dollar rail for cross-border payments, DeFi and institutional trading. The VersaBank deal reinforces that narrative by naming a Schedule I bank at the center of its reserve‑holding stack. From an investor standpoint, the deal makes it easier for institutions and regulated counterparties to see QCAD as a “safe” Canadian-dollar‑denominated instrument, rather than solely a crypto‑native token.

Additionally, regulators and policymakers should see a Canadian dollar stablecoin that is both technically robust and institutionally anchored, which could help shape future rules around CAD‑pegged tokens.

Stablecorp’s investor base already includes heavy hitters such as Coinbase Global (NASDAQ:COIN), Circle (NYSE:CRCL), DeFi Technologies (NASDAQ:DEFT) and FTP Ventures.

The VersaBank partnership adds another layer of credibility that could help Stablecorp attract more traditional financial services capital as Canada’s broader stablecoin and digital asset regulatory framework evolves.

The QCAD mandate represents a symbolically important strategic and balance sheet development, distinct from its core lending activities, offering long-term growth potential. By classifying QCAD-related net interest income within its cash and securities category, VersaBank signals that this activity is capital light and non-credit related. This approach diversifies revenue without significantly altering the bank’s credit risk profile.

This move may attract investors cautious of banks with high crypto-lending exposure, but comfortable with custody and infrastructure. The QCAD deal validates a broader digital asset custody franchise, especially if VersaVault gains more mandates for Canadian-dollar-pegged or other tokenized assets and stablecoins.

Broader implications for Canadian investors

The VersaBank-Stablecorp partnership is significant for Canada-focused investors as it represents a blending of traditional finance and crypto-native infrastructure. Stablecoins such as QCAD act as programmable Canadian dollars. The involvement of a Schedule I bank as custodian enhances the prospect of using CAD stablecoins for interbank or institutional settlement, particularly as Canada explores wholesale central bank digital currency technologies.

Furthermore, the arrangement opens the door for new tokenized financial products like money market funds, deposits or treasury management products that will reside on public blockchains, but are securely backed by regulated entities.

From a risk management perspective, investors may want to watch reserve composition disclosures for QCAD, and monitor how quickly QCAD’s circulating supply and VersaBank’s associated fee income scale.

For now, the deal is more of a strategic and signaling move than a near‑term earnings inflection point, but it lays the groundwork for QCAD to become a core Canadian-dollar‑denominated rail in Canada’s digital asset stack.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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A House Foreign Affairs Middle East and North Africa Subcommittee hearing on Tuesday underscored what lawmakers and witnesses repeatedly described as a ‘historic’ but ‘narrowing’ opportunity to weaken Hezbollah and restore Lebanese state sovereignty, while exposing sharp disagreement over whether current U.S. policy is moving fast or forcefully enough.

Opening the hearing, Chairman Mike Lawler, R-NY., said Lebanon is ‘at a crossroads’ following the Nov. 2024 Israel-Hezbollah ceasefire, arguing the moment offers ‘an unprecedented opportunity’ to help Lebanon ‘break free of the shackles of Iran’s malign influence.’ He warned, however, that progress has been uneven, saying implementation of the Lebanese Armed Forces’ has been ‘haphazard at best.’

The ranking member, Rep. Brad Sherman, D-Calif., struck a more confrontational tone toward the administration, warning that Hezbollah is already rebuilding and that U.S. policy risks squandering the moment.

‘There is a historic opportunity in Lebanon to disarm Hezbollah and remove its grip on the Lebanese state,’ he said. ‘That window of opportunity, however, is narrow. Hezbollah is working hard to rebuild, rearm and to reconstitute itself.’

He criticized cuts to non-security assistance and faulted comments by a Trump administration envoy who described Hezbollah as ‘a political party that also has a militant aspect to it,’ arguing such language ‘sent the wrong signals’ at a critical moment.

David Schenker, senior fellow at The Washington Institute for Near East Policy, testified that while Hezbollah has been weakened militarily, the pace of disarmament remains slow and obstructed.

‘The LAF has a presence in the south that it didn’t have prior to November 2024,’ Schenker said. ‘But they are not in control. Hezbollah still controls the region.’

Schenker said the obstacle is no longer capability but political will. ‘At this point, the question of disarmament is not a matter of capability but of will,’ he told lawmakers, warning that Hezbollah continues to thrive amid corruption and a cash-based economy.

Hanin Ghaddar, senior fellow at The Washington Institute for Near East Policy, said that even full weapons surrender would not dismantle Hezbollah’s power.

‘Hezbollah is not sustained by weapons alone,’ Ghaddar said. ‘It survives through an economic and political ecosystem that protects cash flows, penetrates state institutions and enables military rebuilding.’

She warned that Lebanon’s unregulated cash economy has become Hezbollah’s most durable asset. ‘Weapons can be collected, but money keeps flowing,’ Ghaddar said. ‘Disarmament without dismantling the cash economy… will not be durable.’

All three witnesses emphasized U.S. support should be tied to measurable performance such as progress on disarmament of Hezbollah and economic reform.

Schenker called for renewed sanctions against corrupt Lebanese officials, saying, ‘We should be sanctioning leaders right now… who are obstructing reform.’

Dana Stroul, director of research and senior fellow at The Washington Institute for Near East Policy, warned that Washington’s approach remains incomplete.

‘For the past year, U.S. policy has focused on Hezbollah disarmament, which is critical, but on its own is only a partial strategy,’ Stroul said.

She cautioned that upcoming parliamentary elections could either ‘strengthen or undermine the anti-Hezbollah government,’ calling it the ‘worst-case outcome’ if Hezbollah-aligned politicians retain power.

Ghaddar said Hezbollah’s weakening has shifted Lebanese public discourse. ‘The mythology of resistance has shattered,’ she said. ‘Peace is no longer taboo.’

She argued that normalization with Israel would raise the political cost of Hezbollah’s rearmament and help lock in reform. ‘Without a credible peace horizon, disarmament and economic reform will be temporary. With one, they become structural,’ Ghaddar said.


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Leaked documents from the Iranian regime reveal a coordinated plan by its security apparatus, approved by Supreme Leader Ayatollah Ali Khamenei, to violently suppress nationwide protests using force, surveillance and internet shutdowns.

Excerpts of the documents, reviewed by Fox News Digital, show that Iran’s Supreme National Security Council developed the strategy after the 2019 nationwide protests that came amid fuel price hikes and economic collapse.

At a National Council of Resistance of Iran (NCRI) press briefing Tuesday covering the regime’s pre-planned orders behind the protests and mass killings, Alireza Jafarzadeh, deputy director of the Washington office, said the documents ‘were obtained from within the regime’ and later cited The People’s Mojahedin Organization of Iran (MEK) as having gained access to them.

‘This Directive by the National Security Council was obtained by the network in Iran of the MEK, which has access to sources within the regime,’ he confirmed to Fox News Digital.

‘These documents show the regime’s efforts to prevent the resurgence of the uprising and, if it occurred, to suppress it,’ Jafarzadeh added before stating that there are ‘clear operational plans allocated to the IRGC to use lethal force to kill as many people as needed to stay in power.’

The first document, classified ‘top secret,’ was issued Mar. 3, 2021, with the regime codifying four escalating law enforcement and security conditions. The regime defined how unrest would be handled and which authorities would be in command at each stage.

Initial law enforcement and non-armed security situations placed command authority with Iran’s national police force, with support from the Islamic Revolutionary Guard Corps (IRGC) and the Intelligence Ministry (VAJA).

In the most severe category, designated an ‘armed security situation,’ full command authority rapidly shifted to the IRGC.

‘For now, this compilation should be communicated for two years,’ Khamenei wrote before ordering the blueprint implemented nationwide.

The secret guidelines became the blueprint for crushing the January 2026 protests, which erupted amid soaring inflation, currency collapse and anger toward clerical rule.

According to the Human Rights Activists News Agency (HRANA), at least 6,854 people have been killed during the protests, with 11,280 cases under investigation.

Internal regime assessments cited in other leaked files describe three phases of the 2026 uprising: an initial law enforcement phase, followed by a non-armed security phase and finally an armed security situation beginning Jan. 8 when authority shifted fully to the IRGC that played the command role and carried out armed killings.

The documents specify that during armed security situations, the IRGC operated with support from other security bodies, while Iran’s Ministry of Communications was ordered to impose internet restrictions, including full shutdowns.

A second classified document, compiled in 2024 by the IRGC’s Sarallah Headquarters, reveals how far the regime went to prepare for dissent.

The 129-page ‘Comprehensive Security Plan of Tehran’ details extensive surveillance and repression measures, identifying members of the opposition MEK and family members of executed dissidents as ‘level number one’ enemies subject to monitoring and control.

‘It also shows how far the regime is prepared to go to kill as many people as needed, which they did in January 2026. However, these killings further convinced the people that there is only one way to end the killings, and that is to overthrow the regime,’ Jafarzadeh added.

‘There are more people, especially young ones, who have joined the ranks of the organized force to confront the IRGC and liberate the nation,’ he said.


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VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / February 3, 2026 / Prince Silver Corp. (CSE:PRNC,OTC:PRNCF)(OTCQB:PRNCF)(Frankfurt:T130) (‘Prince Silver’or theCompany’) is pleased to announce that, due to strong investor demand, it has increased the size of its previously announced non-brokered private placement (the ‘Offering’) from $3,000,000 to up to $4,750,000.

The upsizing reflects continued support from existing shareholders and interest from new investors as the Company advances the Prince Silver Project, located in the Pioche Mining District, Nevada.

The Offering consists of units (the ‘Units’) priced at $0.70 per Unit. Each Unit is comprised of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional common share at a price of $1.00 for a period of two years from the date of issuance, provided that, if the closing price of the company’s common shares for a period of 10 consecutive trading days is $1.40 or higher, the company will have the right to accelerate the expiry date of the warrants upon notice given by press release and the warrants will thereafter expire on the 30th calendar day after the date of such press release, or such later date as may be stated in the news release.

In connection with the upsizing, the Company may issue up to 6,785,714 Units for total gross proceeds of up to $4,750,000, subject to regulatory approval and customary closing conditions. All securities issued under the Offering will be subject to a statutory hold period of four months and one day in accordance with applicable securities laws.

Proceeds from the Offering are expected to be used to advance the next phase of drilling at the Prince Silver Project, complete a maiden mineral resource estimate, conduct ongoing metallurgical work, and for general working capital purposes.

Finders’ fees may be paid in accordance with applicable securities laws and exchange policies.

About Prince Silver Corp.

Prince Silver Corp. is a silver exploration company advancing its past-producing Prince Silver-Zinc-Manganese-Lead Mine in Nevada, USA. Featuring near-surface mineralization that was historically drill tested by over 129 holes and is open in all directions, the Prince Project offers a clear path toward a maiden 43-101 compliant resource estimate. The Company also holds an interest in the Stampede Gap Project, a district-scale copper-gold-molybdenum porphyry system located 15 km north-northwest of the Prince Silver Project, highlighting Prince Silver’s focus on high-potential, strategically located exploration assets.

On Behalf of the Board of Directors

Derek Iwanaka, CEO & Director
Tel: 604-928-2797
Email: info@princesilvercorp.com
Website: www.princesilvercorp.com

Forward-Looking Information

Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as ‘may’, ‘expect’, ‘estimate’, ‘anticipate’, ‘intend’, ‘believe’ and ‘continue’ or the negative thereof or similar variations. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: ongoing and proposed drill programs, amendments to the Company’s website, property option payments and regulatory and corporate approvals. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, dependence on key personnel, completion of satisfactory due diligence in respect of the Acquisition and related transactions, and compliance with property option agreements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, failure to obtain regulatory or corporate approvals, exploration results, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act’) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

SOURCE: Prince Silver Corp.

View the original press release on ACCESS Newswire

News Provided by ACCESS Newswire via QuoteMedia

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Buried among the roughly 3 million pages of Justice Department documents is a brief exchange revealing disgraced financier Jeffrey Epstein discussing the removal of Federal Reserve Chair Jerome Powell with then–Trump advisor Steve Bannon.

The 2018 emails, bearing the subject line ‘Re: Trump has discussed firing Fed chief after latest interest rate hike: report,’ show Epstein and Bannon weighing who should exit the Trump administration next.

Epstein opened the exchange by endorsing the idea of removing Powell, who Trump had appointed to the role a year prior.

‘Should have been done months ago too old!!!!’ Epstein wrote.

The exchange took place two days after then–Defense Secretary James Mattis stunned Washington with his resignation, and Epstein dismissed the foreign policy upheaval as secondary to changes at the Fed.

‘Getting rid of Powell much more important than Syria/Mattis. I guess Pompeo, only one left,’ Epstein wrote in a follow-up email, adding that ‘Jared and Ivanka need to go,’ referencing Trump’s daughter and son-in-law who held positions in the administration. 

Bannon responded by asking whether Powell or then–Treasury Secretary Steve Mnuchin could be removed.

‘Can u get rid of Powell or really get rid of Mnuchin,’ Bannon wrote.

Epstein replied that Mnuchin should remain in place.

‘No, Mnuchin is ok,’ Epstein wrote.

The revelation of the email correspondence underscores a moment years in the making, as President Donald Trump moves forward with a criminal investigation into Powell and names Kevin Warsh as the next chair of the central bank.


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: A group led by conservative moms is stepping into the fight against illegal Chinese-made vapes, inspired by the Trump administration’s efforts, and announcing it will be mounting an ‘aggressive’ 2026 campaign to educate parents on the dangers of illegal e-cigarettes. 

Moms for America Action, the nation’s largest conservative mothers organization, announced in a press release it will make combating illegal Chinese vapes a top priority in the 2026 election cycle, mobilizing parents and placing ads nationwide to demand tougher enforcement and accountability for manufacturers flooding the U.S. market with illicit products.

The group says the action is in line with the Trump administration’s crackdown on illegal vape products manufactured in China that are marketed to children with a variety of flavors.

‘For moms, this is personal,’ Emily Stack, executive director of Moms for America Action, said in the press release.

‘Illegal Chinese vapes are showing up in our schools, our neighborhoods, and our homes every single day. Moms are fed up, and we’re taking action to stop these products from targeting our kids.’

Moms for America Actions says it will ‘mobilize moms’ to ‘advocate for stronger enforcement, accountability for foreign manufacturers, and protections for children and families.’

In the press release, the group points out that many illicit Chinese vapes are ‘deliberately designed’ to appeal to children and says that will be a main focus of their campaign’s pushback.

 ‘This is not an accident; it’s by design,’ Stack explained. ‘China has built a billion-dollar industry on addicting American kids to illegal products that have no place in our communities. Moms are fed up, and we fully support the Trump administration’s aggressive actions to shut down this black market.’

The group’s efforts are in line with the Trump administration’s push to combat illicit Chinese vapes, highlighted by an $86.5 million seizure of illegal vapes in Chicago last year that accompanied ‘Operation Vape Trail,’ an operation by Trump’s Drug Enforcement Agency to stem illegal vape sales. 

‘The Chinese are getting richer while our children get sicker,’ Health and Human Services Secretary Robert F. Kennedy Jr. posted on X last September. ‘We’re putting an end to that.’

‘We are targeting illegal Chinese vapes, and we will stop them from poisoning our children.’

China’s vape industry is estimated at $28 billion, and despite federal restrictions, government data indicates that two-thirds of its products reach U.S. consumers. More than 80% of vapes sold nationwide are illicit and not authorized for sale. 

‘President Trump’s actions send a clear message: profiting off the addiction of our children will not be tolerated,’ Stack said. ‘Moms want safe communities, honest enforcement of the law, and leaders who put American families first. We are committed to making sure these dangerous products are removed from our schools and neighborhoods for good.’


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Senate Minority Leader Chuck Schumer stood in the way of the Safeguard American Voter Eligibility Act (SAVE) this week, claiming that it represents ‘Jim Crow’ segregation laws, leading many on social media to bring up his identical claim about a Georgia voting law that resulted in record Black turnout.

Schumer pushed back on a Republican plan to add the SAVE Act, which would require states to obtain proof of citizenship in-person when people register to vote and remove non-citizens from voter rolls, to the spending package being debated in Congress.

‘I have said it before and I’ll say it again, the SAVE Act would impose Jim Crow-type laws to the entire country and is dead on arrival in the Senate,’ Schumer said on Monday. ‘It is a poison pill that will kill any legislation that it is attached to… The SAVE Act is reminiscent of Jim Crow era laws and would expand them to the whole of America. Republicans want to restore Jim Crow and apply it from one end of this country to the other. It will not happen.’

Many on social media quickly pointed to Schumer previously calling a Georgia election integrity law ‘Jim Crow 2.0’ before the law resulted in record Black turnout in the 2022 state election.

‘Schumer used the same line to describe Georgia laws that indisputably expanded voter access back in 2022,’ commentator and writer AG Hamilton posted on X. ‘It’s incredibly offensive and unserious to pretend that every voting law equates to a renewal of Jim Crow.’

Many Democrats, from Schumer, to President Joe Biden, to failed Georgia Democratic gubernatorial candidate Stacey Abrams, warned that the Georgia voter integrity law would be ‘Jim Crow 2.0’ and Major League Baseball even pulled its All-Star Game from Atlanta in 2021 amid public pressure.

Ultimately, the Georgia Secretary of State revealed that the law did not suppress turnout, but rather increased it, particularly among minority voters.

‘Chuck Schumer sounds like a broken record,’ Honest Elections Project Executive Director Jason Snead told Fox News Digital. ‘When Georgia passed a new voting law in 2021, Schumer labeled it ‘Jim Crow’ even though the state went on to see explosive turnout in 2022.’

Snead pointed to a University of Georgia poll after the 2022 election finding that 0% of Black respondents had a poor experience voting. 

Snead continued, ‘Now, Schumer is smearing the SAVE Act the same way because he has no legitimate excuse for opposing a law that makes sure only American citizens are voting—which more than 80% of Americans support. Schumer’s smears were false then, and they are false now.

‘Schumer and the Democrats keep trying to rig the rules of our elections by pushing failed, California-style election laws that invite chaos and fraud. That’s not what Americans want.’

Fox News Digital reached out to Schumer’s office for comment.


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A Senate Republican suggested Wednesday that House Minority Leader Hakeem Jeffries, D-N.Y., had his feelings hurt by not being included in the Trump-Schumer deal to fund the government. 

The House passed the five-bill funding package, along with a two-week funding extension for the Department of Homeland Security (DHS), on Tuesday. Jeffries and most House Democrats, save for 21, voted against it as the partial government shutdown entered its fourth day. 

Sen. Roger Marshall, R-Kan., said it was because Jeffries was ‘butt hurt’ that he was not looped into the deal brokered between Senate Minority Leader Chuck Schumer, D-N.Y., and President Donald Trump. 

‘He’s butt hurt that President Trump didn’t call him, too,’ Marshall told Fox News Digital. ‘But I think that’s on Schumer.’

Marshall described the scene in the Oval Office last week, where top-ranking Senate Republicans met with Trump as the funding deadline neared, and Senate Democrats were digging in deeper into their demands to renegotiate the DHS funding bill. 

‘The president says, ‘Get Schumer on the phone.’ They get Schumer on the phone. They broker a deal,’ Marshall said.

‘So really, it’s on Schumer that he agreed to this deal, really, before bringing Hakeem in,’ he continued. ‘And really it comes down to that Hakeem’s feelings are butt hurt, and to him, he’s fighting for his political life and really struggling.’

While the deal does fund 11 out of the 12 agencies under Congress’ purview, DHS remains an open question.

Senate Democrats, following the fatal shooting of Alex Pretti during an immigration operation in Minneapolis, demanded that the bipartisan bill to fund the agency be sidelined in order to cram in more restrictions and reforms for Immigration and Customs Enforcement (ICE). 

Turning to a two-week continuing resolution (CR) to further negotiate the bill has Republicans concerned that they will end up in the same position within the next few days, given the truncated timeframe to hash out major issues with one of the most politically perilous funding bills.

Senate Majority Leader John Thune, R-S.D., said that negotiations with Senate Democrats would be carried out by Sen. Katie Britt, R-Ala., who chairs the Homeland Security Appropriations Subcommittee. 

He acknowledged, however, that Trump would be the deciding factor. 

‘Ultimately, that’s going to be a conversation between the President of the United States and the Democrats here in the Senate,’ he said.

But Schumer insisted that Thune needed to be in on the negotiations. 

‘If Leader Thune negotiates in good faith, we can get it done,’ Schumer said. ‘We expect to present to the Republicans a very serious, detailed proposal very shortly.’

Fox News Digital reached out to Schumer and Jeffries for comment.


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President Donald Trump has signed legislation ending the partial government shutdown that started Friday at midnight. 

The legislation Trump signed funds agencies including the Department of War, the Department of State, the Treasury Department and others through the end of September and the end of the fiscal year. 

However, it only funds the Department of Homeland Security (DHS) through Feb. 13, meaning Republicans and Democrats will be forced to work together to secure a longer-term funding plan for the agency. 

While the House had previously passed funding bills to keep the government open through the end of September, Democrats failed to get on board with the measures in response to Trump’s ramped-up immigration efforts in Minneapolis. 

DHS announced Operation Metro Surge in December 2025 to dispatch thousands of Immigration and Customs Control agents into the city. 

As a result, Senate Democrats refused to get behind the deal due to its funding for DHS after two Customs and Border Patrol agents shot and killed Alex Pretti, a Department of Veterans Affairs ICU nurse, while he was recording federal immigration enforcement operations in Minneapolis in January. 

Ultimately, the Senate passed the compromise spending measure Friday that would fund key agencies, but the House was out of session and couldn’t pass its version of the measure in time to prevent a partial government shutdown. The House ultimately passed the compromise deal Tuesday by a 217–214 margin.

The most recent shutdown comes on the heels of the longest government shutdown in U.S. history in fall 2025, where the government remained shuttered for more than 40 days in October and November 2025. 

On Nov. 12, 2025, Trump signed legislation that would continue to fund the government at the same levels during fiscal year 2025 through Jan. 30 to provide additional time to finalize a longer appropriations measure for fiscal year 2026.


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On January 28, the US Securities and Exchange Commission (SEC) issued a joint staff statement from the Division of Corporation Finance, the Division of Investment Management and the Division of Trading and Markets in an effort to provide clarity regarding tokenized securities.

The update formalizes the agency’s approach under the new Project Crypto initiative.

INN: Is the SEC’s guidance a real step forward for tokenized securities, or simply existing law repackaged for blockchain?

EF: It is mostly existing law applied to new rails, and the SEC staff says that explicitly: the format and whether records are onchain or off-chain does not change the application of federal securities laws, and the statement creates no new obligations or exemptions. The step forward is practical: a clear taxonomy of tokenization models and an invitation to engage on registrations and requests for staff action, which reduces interpretive ambiguity for counsel and compliance teams.

INN: Does formally classifying tokenized securities under federal securities laws accelerate institutional adoption?

EF: It accelerates adoption only to the extent it reduces legal uncertainty. The statement anchors tokenized securities inside familiar categories and emphasizes that compliance pathways already exist, which helps internal risk committees approve pilots. But it does not solve the institutional bottleneck by itself; mainstream adoption still requires scalable market infrastructure and regulated operating models that fit broker-dealer, exchange, custody and settlement expectations.

INN: Who is this guidance really designed for? Crypto-native platforms, traditional financial institutions or regulators preparing for enforcement?

EF: All three, but the clearest primary audience is market participants preparing filings and requests for relief, across both crypto native and traditional firms. The staff frames it as assistance for compliance and for preparing registrations, proposals or requests for appropriate action. At the same time, it signals an enforcement baseline: do not assume tokenization changes the regulatory perimeter, especially for third-party sponsored models that introduce intermediary and bankruptcy risk.

INN: Does the SEC’s tokenization taxonomy provide meaningful structure, or does it leave key operational questions unresolved?

EF: It provides meaningful structure by separating issuer-sponsored tokenized securities from third-party sponsored tokenized securities, then splitting third-party models into custodial tokenized securities and synthetic tokenized securities. Key operational questions remain open because the statement is not a rule and assumes away major frictions like state law transfer validity, and it does not standardize how onchain settlement, custody controls or trading venues should be implemented in practice.

INN: What needs to happen next for tokenized securities to move from experimentation to mainstream financial markets?

EF: First, a credible clearing and settlement pathway at scale. The (Depository Trust Company) no-action relief for its tokenization services pilot is directionally important because it connects tokenized entitlements to core market plumbing.

Second, more formal regulatory outputs: targeted exemptive relief, standard form disclosures for tokenized representations and clear expectations for broker-dealer and exchange-compliant secondary trading of tokenized securities. Third, operational standards that institutions can audit: identity and permissioning controls, wallet and key management, corporate actions processing and insolvency treatment for intermediary-based models, so that tokenization becomes an efficiency upgrade rather than a new risk layer.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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