Weekly Recap: SEC Clears Nasdaq Tokenized Securities Plan; Stablecoin Talks Progress; U.S. Debt Hits $39T

Weekly Recap 1) The SEC approved a Nasdaq rule change that would allow trading in tokenized stocks and other securities. 2) U.S. senators reached an agreement with the White House to settle a dispute between banks and crypto firms over stablecoin yield. 3) The SEC and CFTC released joint guidance stating that "most crypto assets" are not securities. 4) PayPal officially rolled out stablecoin access in 70 countries. 5) SEC Chair Paul Atkins said "crypto markets and the millions of Americans who participate in them deserve longoverdue clarity." 6) CFTC Chair Mike Selig said crypto will drive the "new frontier of finance" as markets "move on chain." 7) Atkins said the SEC is removing impractical rules to "advance, clarify, and transform" financial markets. 8) U.S. national debt climbed to a new alltime high of $39 trillion. 9) Elon Musk's xAI is recruiting Wall Street bankers, portfolio managers, and traders to train Grok on financial modeling. 10) Fed Chair Jerome Powell warned that rising energy prices tied to the U.S.israeli war with Iran will push inflation higher.