🐋 WHALE WATCH : The SEC and CFTC aren't waiting on Congress. The two agencies are running Project Crypto a joint effort to define crypto assets and write clearer rules for staking stablecoins custody fundraising and on chain trading. A joint interpretation is already published. More rules sit on the SECs 2026 agenda. It doesnt replace the CLARITY Act. the bill stays stuck this is what regulation looks like in the meantime.(Whale Factor)