08:00 briefing: crypto firms prepare for agency-led rules while legislation stalls

The industry still wants statutory clarity, but regulators may define the next practical steps. Updated for the current hour on September 21.
With major legislation uncertain, exchanges and issuers are focusing on what agencies can do now. That means custody rules, disclosures, market surveillance and token classification remain central planning points. This hourly edition updates the angle for September 21 at 08:00: what is important now, why the story remains relevant and what readers should track next.
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