Stand With Crypto Backs Midterm Candidates as UK FCA Opens Authorization Window

The Coinbase-backed advocacy group Stand With Crypto has endorsed candidates in key Senate and House races ahead of the US November midterm elections, intensifying the crypto industry's political involvement. The group is backing Republican Sen. Jon Husted in Ohio, Republican Rep. Ashley Hinson in Iowa, and Democratic Rep. Chris Pappas in New Hampshire, along with House candidates from both parties including Democrat Shomari Figures in Alabama and Republican Mariannette Miller-Meeks in Iowa. The endorsements come two weeks after the Senate failed to advance the CLARITY Act, which would have established a federal regulatory framework for crypto markets. Stand With Crypto has updated its candidate scorecard to reflect lawmakers' votes on the bill and plans to increase advertising in six House races, while Fairshake, the industry-backed super PAC funded largely by Coinbase, Ripple, and Andreessen Horowitz, has committed $30 million to support Husted against Democrat Sherrod Brown in Ohio.

The UK's Financial Conduct Authority (FCA) opened applications for crypto businesses seeking authorization under a regulatory regime set to take effect on October 25, 2027. Companies intending to continue operating in the UK must apply by the end of February 2027, with the FCA expected to decide all applications submitted during that window before the regime goes live. The framework expands the FCA's oversight beyond anti-money laundering and financial promotion requirements, incorporating finalized rules covering stablecoin issuance, crypto trading platforms, and market abuse. "The UK's new crypto regime will give consumers greater protections and firms a clear framework to operate in," said Dominic Cashman, the FCA's director of authorization. Emma Banymandhub, CEO of payments industry trade body The Payments Association, welcomed the opening but urged businesses already registered under existing money laundering regulations to prepare for the transition.

Meanwhile, Crypto.com's personal AI agent platform remains in "stealth mode" nearly eight months after its high-profile Super Bowl debut. Originally promoted as a major consumer-facing product launch, the platform has yet to fully materialize publicly, underscoring the challenges crypto firms face in deploying AI-powered products at scale. The delay comes as competition intensifies in the AI-agent space, with both established crypto companies and startups racing to build autonomous agents capable of executing trades and managing on-chain interactions.