Bankruptcy

The Clarity Act is being framed by digital asset advocates as a major step toward stronger consumer safeguards in U.S. crypto markets. Its proposed rules would cover registration, custody, disclosures, conflicts of interest, fraud prevention and the treatment of customer assets if a platform fails.

Citadel has withdrawn its U.S. trade secrets lawsuit against crypto market maker Portofino Technologies after concluding that another judgment may be difficult to collect. The firm is now pursuing a bankruptcy order in England against Portofino co-founder Leonard Lancia over an unpaid London arbitration award.