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9dfe9f24d6 rio: extract from 2026-01-13-nasaa-clarity-act-concerns.md
- Source: inbox/archive/2026-01-13-nasaa-clarity-act-concerns.md
- Domain: internet-finance
- Extracted by: headless extraction cron (worker 0)

Pentagon-Agent: Rio <HEADLESS>
2026-03-11 14:17:48 +00:00
Teleo Agents
81384819e6 auto: re-queue futardio entity-data sources for dual extraction (cron skip now disabled)
Pentagon-Agent: Leo <14FF9C29-CABF-40C8-8808-B0B495D03FF8>
2026-03-11 13:56:55 +00:00
Teleo Agents
aa0243699b auto: re-queue 10 futardio sources (entity extraction test, cron skip disabled)
Pentagon-Agent: Leo <14FF9C29-CABF-40C8-8808-B0B495D03FF8>
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---
type: claim
domain: internet-finance
description: "Two separate state regulatory apparatuses — securities (NASAA) and gaming (Nevada, Massachusetts) — are resisting federal preemption on different digital asset fronts simultaneously, suggesting the resistance is structural rather than domain-specific"
confidence: experimental
source: "NASAA formal letter January 2026; state gaming commission actions on prediction markets (Nevada, Massachusetts); rio extraction 2026-03-11"
created: 2026-03-11
depends_on:
- "state-securities-regulators-constitute-a-coordinated-institutional-block-opposing-federal-digital-asset-preemption-that-persists-independently-of-federal-legislative-progress"
challenged_by: []
secondary_domains: [grand-strategy]
---
# state securities regulators and gaming commissions independently converging on federal preemption opposition reveals a cross-institutional states'-rights pattern in digital asset governance
The NASAA filing against the CLARITY Act and the simultaneous state gaming commission resistance to federal event contract jurisdiction (Nevada, Massachusetts) are formally unrelated actions by different regulatory bodies operating under different statutory frameworks. NASAA enforces securities law. State gaming commissions enforce gambling and wagering law. They do not coordinate with each other. Yet they are producing the same structural outcome: multi-jurisdictional institutional resistance to federal preemption of digital asset oversight.
This convergence is meaningful precisely because it is independent. If NASAA and gaming commissions were coordinating, their simultaneous opposition would be expected — one coalition, one message. Instead, two separate regulatory traditions, with distinct mandates and constituencies, are arriving at the same position: that federal preemption of their authority over digital assets is premature, insufficiently protective of consumers, or unconstitutional. That independent convergence suggests the resistance is not domain-specific friction — it is a structural states'-rights response to a perceived federal overreach across digital finance broadly.
The pattern matters for internet finance for a specific reason: futarchy-governed event contracts and tokenized securities sit at the intersection of both regulatory traditions. A project raising capital via futarchy-governed ICO on MetaDAO operates under potential state securities jurisdiction (NASAA's territory). The same platform's governance markets may be classified as event contracts under CFTC jurisdiction — but state gaming commissions assert parallel authority over prediction markets in their jurisdictions. The cross-institutional states'-rights dynamic means that such projects face not one unified regulatory opposition but two overlapping state enforcement regimes that are independently motivated to assert jurisdiction.
This is qualitatively different from the federal regulatory uncertainty that most internet finance analysis focuses on. Federal uncertainty resolves when agencies clarify or Congress acts. Cross-institutional state resistance is slower, more fragmented, and less legible — each state and each regulatory tradition requires separate analysis and separate compliance posture.
## Evidence strength caveat
This claim is based on the observed pattern from NASAA's January 2026 filing and the known state gaming commission actions on prediction markets. The full CLARITY Act text and NASAA's specific arguments were not directly accessible. The inference of cross-institutional convergence is an interpretive reading of the pattern, not a documented coordination strategy. Confidence is experimental.
## Challenges
The gaming commission and securities commission resistances may be driven by entirely different incentive structures (revenue/jurisdiction protection vs. investor protection mandate) and may not compound in the way the claim implies. If the CLARITY Act's preemption provisions are narrow in scope, the overlap with gaming commission jurisdiction may be minimal. Regulatory clarity at the federal level could resolve state gaming commission concerns faster than state securities concerns, making this a transient rather than structural pattern.
---
Relevant Notes:
- [[state-securities-regulators-constitute-a-coordinated-institutional-block-opposing-federal-digital-asset-preemption-that-persists-independently-of-federal-legislative-progress]] — the foundational claim about state securities resistance; this claim argues the resistance is broader than the securities apparatus alone
- [[futarchy-governed entities are structurally not securities because prediction market participation replaces the concentrated promoter effort that the Howey test requires]] — if futarchy-governed entities are not securities, securities regulators lose jurisdiction; but gaming commissions may still assert it
- [[Ooki DAO proved that DAOs without legal wrappers face general partnership liability making entity structure a prerequisite for any futarchy-governed vehicle]] — illustrates how multiple legal frameworks can apply simultaneously to a novel structure
Topics:
- [[domains/internet-finance/_map]]

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---
type: claim
domain: internet-finance
description: "NASAA's 36-jurisdiction filing against the CLARITY Act and parallel state amicus briefs in prediction market cases reveal organized institutional resistance that operates on its own timeline regardless of federal action"
confidence: likely
source: "NASAA formal letter to Congress, January 13, 2026; state amicus briefs in prediction market cases; rio extraction 2026-03-11"
created: 2026-03-11
depends_on:
- "AI autonomously managing investment capital is regulatory terra incognita because the SEC framework assumes human-controlled registered entities deploy AI as tools"
challenged_by: []
secondary_domains: [grand-strategy]
---
# state securities regulators constitute a coordinated institutional block opposing federal digital asset preemption that persists independently of federal legislative progress
On January 13, 2026, NASAA — representing securities regulators from all 50 states, the District of Columbia, Puerto Rico, the US Virgin Islands, and Canadian provinces — filed formal concerns about the Digital Asset Market Clarity Act (CLARITY Act) with Congress. The concerns center on the Act's federal preemption of state-level digital asset oversight authority, what NASAA characterizes as insufficient investor protections at the federal level, and the reduction of enforcement tools available to state regulators.
This is not a marginal objection. NASAA's membership is the entire US state securities apparatus. When NASAA files, it speaks for the full jurisdictional footprint of state-level investor protection. The same period saw 36 states filing amicus briefs against federal preemption in prediction market cases — a parallel institutional mobilization on a different digital asset frontier (event contracts / prediction markets) reaching the same conclusion: state authority should not yield to federal preemption without demonstrating adequate investor protection at the federal level.
The significance is structural, not political. Federal legislation can pass and still leave unresolved state enforcement authority, state securities registration requirements, and state consumer protection laws. The CLARITY Act — whatever its final form — cannot unilaterally dissolve NASAA's member jurisdictions' existing statutory authority. State regulators can enforce their own securities laws against digital asset issuers regardless of federal classification. This creates layered regulatory exposure for digital asset projects operating nationally: federal compliance does not substitute for state compliance in a preemption dispute that has not been judicially resolved.
The practical implication for internet finance is that the "regulatory clarity is increasing" narrative, while accurate at the federal level, understates the friction environment. Federal clarity and state-level legal uncertainty are not mutually exclusive — they coexist, and the NASAA filing signals that state regulators intend to maintain their enforcement posture.
## Challenges
The CLARITY Act's preemption provisions are not yet enacted law as of early 2026. If passed and judicially upheld, they could displace NASAA's objections. NASAA's historical conservatism on digital assets may overstate the practical enforcement threat — many state regulators lack resources to pursue crypto-native enforcement at scale. Note: the full CLARITY Act text and NASAA's specific arguments were not directly accessible for this extraction (PDF behind access restrictions); this claim is grounded in the documented institutional actions and the general regulatory pattern they represent.
---
Relevant Notes:
- [[AI autonomously managing investment capital is regulatory terra incognita because the SEC framework assumes human-controlled registered entities deploy AI as tools]] — a parallel case where regulatory frameworks haven't caught up to novel structures; state-level resistance adds another layer to this terra incognita
- [[three attractor types -- technology-driven knowledge-reorganization and regulatory-catalyzed -- have different investability and timing profiles]] — internet finance qualifies as a regulatory-catalyzed transition; state-level resistance extends the timing uncertainty of that catalysis
Topics:
- [[domains/internet-finance/_map]]

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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/8SwPfzKhaZ2SQfgfJYfeVRTXALZs2qyFj7kX1dEkd29
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---

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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/B82Dw1W6cfngH7BRukAyKXvXzP4T2cDsxwKYfxCftoC
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---

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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/A19yLRVqxvUf4cTDm6mKNKadasd7YSYDrzk6AYEyubA
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---

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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/Gp3ANMRTdGLPNeMGFUrzVFaodouwJSEXHbg5rFUi9ro
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domain: internet-finance
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---

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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/HiNWH2uKxjrmqZjn9mr8vWu5ytp2Nsz6qLsHWa5XQ1V
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domain: internet-finance
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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/6LcxhHS3JvDtbS1GoQS18EgH5Pzf7AnqQpR7D4HxmWp
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domain: internet-finance
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---

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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/ApywwMrE9vkWiatZwQVU6wdvNsHrYZkhegNCV5XDZ8y
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domain: internet-finance
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---

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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/B4zpF4iHeF91qq8Szb9aD6pW1DrwSy6djD4QPWJQn3d
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domain: internet-finance
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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/zN9Uft1zEsh9h7Wspeg5bTNirBBvtBTaJ6i5KcEnbAb
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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/2QUxbiMkDtoKxY2u6kXuevfMsqKGtHNxMFYHVWbqRK1
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domain: internet-finance
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---

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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/FXkyJpCVADXS6YZcz1Kppax8Kgih23t6yvze7ehELJp
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domain: internet-finance
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---

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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/4gaJ8bi1gpNEx6xSSsepjVBM6GXqTDfLbiUbzXbARHW
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domain: internet-finance
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---

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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/GBQZvZAeW8xUuVV5a9FJHSyttzY5fPGuvkwLTpWLbw6
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---

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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/DhY2YrMde6BxiqCrqUieoKt5TYzRwf2KYE3J2RQyQc7
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domain: internet-finance
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---

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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/C2Up9wYYJM1A94fgJz17e3Xsr8jft2qYMwrR6s4ckaK
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domain: internet-finance
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tags: [futardio, metadao, futarchy, solana, governance]
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---

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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/A74H61YqwsbwRczuErbUyh9kqG1A7ZbiE1W5hWZmT9f
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domain: internet-finance
format: data
status: entity-data
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tags: [futardio, metadao, futarchy, solana, governance]
event_type: proposal
---

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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/5V5MFN69yB2w82QWcWXyW84L3x881w5TanLpLnKAKyK
date: 2024-12-30
domain: internet-finance
format: data
status: entity-data
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tags: [futardio, metadao, futarchy, solana, governance]
event_type: proposal
---

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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/CJW4iZPT14sVNzoc4Yibx1LbnY12sA75gZCP9HZk11U
date: 2025-01-13
domain: internet-finance
format: data
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tags: [futardio, metadao, futarchy, solana, governance]
event_type: proposal
---

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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/B8WLuXqoBb3hRD9XBCNuSqxDqCXCixqRdKR4pVFGzNP
date: 2025-01-14
domain: internet-finance
format: data
status: entity-data
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tags: [futardio, metadao, futarchy, solana, governance]
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---

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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/3tApJXw2REQAZZyehiaAnQSdauVNviNbXsuS4inn8PA
date: 2025-01-27
domain: internet-finance
format: data
status: entity-data
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tags: [futardio, metadao, futarchy, solana, governance]
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---

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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/CBhieBvzo5miQBrdaM7vALpgNLt4Q5XYCDfNLaE2wXJ
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domain: internet-finance
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---

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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/7FY4dgYDX8xxwCczrgstUwuNEC9NMV1DWXz31rMnGNT
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domain: internet-finance
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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/DnDiyjAcmS3BNmNEJa2ydEbd6DgnddpkyVXJfngdRTz
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domain: internet-finance
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---

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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/4BTTxsV98Rhm1qjDe2yPdXtj7j7KBSuGtVQ6rUNWjjX
date: 2025-02-06
domain: internet-finance
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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/8qtWAAjqKhtEBJjdY6YzkN74yddTchH2vSc7f654NtQ
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domain: internet-finance
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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/AnCu4QFDmoGpebfAM8Aa7kViouAk1JW6LJCJJer6ELB
date: 2025-02-10
domain: internet-finance
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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/6TkkCy26HCqxWGt1QgfhFHc6ASikRjk74Gkk4Wfyd7w
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domain: internet-finance
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---

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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/9ZYMaLKWn9PSLTX1entmqJUYBiCkZbRxeRz1tVvYwqy
date: 2025-02-24
domain: internet-finance
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tags: [futardio, metadao, futarchy, solana, governance]
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---

View file

@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/3rCNPg7wG1XCZBCWwjgjFgfhEySu2LhqeoU9KTUesTg
date: 2025-02-24
domain: internet-finance
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---

View file

@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/HREoLZVrY5FHhPgBFXGGc6XAA3hPjZw1UZcahhumFke
date: 2025-02-26
domain: internet-finance
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tags: [futardio, metadao, futarchy, solana, governance]
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---

View file

@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/EksJ2GhxbmhVAdDKP4kThHiuzKwjhq5HSb1kgFj6x2Q
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domain: internet-finance
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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/8MMGMpLYnxH69j6YWCaLTqsYZuiFz61E5v2MSmkQyZZ
date: 2025-03-05
domain: internet-finance
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tags: [futardio, metadao, futarchy, solana, governance]
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---

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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/HCHkdhiPh2q9LTyvUpfyfuybPHW7qg1T2vGtiJzGPrs
date: 2025-03-05
domain: internet-finance
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---

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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/6mc1Fp6ds8XKA2jMzBDDhVwvY6ZCGg6SNqvHy4E6LS7
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domain: internet-finance
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---

View file

@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/2frDGSg1frwBeh3bc6R7XKR2wckyMTt6pGXLGLPgoot
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domain: internet-finance
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---

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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/2dvNKyxKzVuUMcd89wzfuYjX2RKbJps2Srqu4mJ7LEg
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domain: internet-finance
format: data
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tags: [futardio, metadao, futarchy, solana, governance]
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---

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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/35mgLHTJYhyEWjsLHDd4jZNQ6jwuZ4E214TUm1hA8vB
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domain: internet-finance
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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/C61vTUyxTq5SWwbrTFEyYeXpGQLKhRRvRrGsu6YUa6C
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domain: internet-finance
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@ -6,7 +6,7 @@ url: "https://www.futard.io/launch/9kx7UDFzFt7e2V4pFtawnupKKvRR3EhV7P1Pxmc5XCQj"
date: 2025-10-06
domain: internet-finance
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@ -6,7 +6,7 @@ url: "https://www.futard.io/launch/2rYvdtK8ovuSziJuy5gTTPtviY5CfTnW6Pps4pk7ehEq"
date: 2025-10-14
domain: internet-finance
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tags: [futardio, metadao, futarchy, solana]
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---

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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/6c1dnggYNpEZvz4fedJ19LAo8Pz2mTTvT6LxySYhpLb
date: 2025-10-15
domain: internet-finance
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tags: [futardio, metadao, futarchy, solana, governance]
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---

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@ -6,7 +6,7 @@ url: "https://www.futard.io/launch/E7kXdSdZrjVFDkLb6V7S8VihKookPviRJ7tXVik9qbdu"
date: 2025-10-18
domain: internet-finance
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tags: [futardio, metadao, futarchy, solana]
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---

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@ -6,7 +6,7 @@ url: "https://www.futard.io/launch/4h248CdXdeWtxWnHxEPqa5ruYZaEwXRZPyDFYnndbzpR"
date: 2025-10-20
domain: internet-finance
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@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/CFZzTU9YBc2ESa9jXeiYsq1sbN2vg346gUunA5NC3iC
date: 2025-10-22
domain: internet-finance
format: data
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tags: [futardio, metadao, futarchy, solana, governance]
event_type: proposal
---

View file

@ -6,7 +6,7 @@ url: "https://www.futard.io/launch/13YpYe4k5GPaD2vZvvY7v7if31S1Wu8yWShkQs8MzLNh"
date: 2025-10-23
domain: internet-finance
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tags: [futardio, metadao, futarchy, solana]
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---

View file

@ -6,7 +6,7 @@ url: "https://www.futard.io/proposal/G33HJH2J2zRqqcHZKMggkQurvqe1cmaDtfBz3hgmuuA
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tags: [futardio, metadao, futarchy, solana, governance]
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---

View file

@ -6,7 +6,7 @@ url: "https://www.futard.io/launch/634r63NH2qbTrSVyLieC3Ab3YKaEfoGnCLM8idZMEycE"
date: 2025-11-14
domain: internet-finance
format: data
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tags: [futardio, metadao, futarchy, solana]
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---

View file

@ -6,7 +6,7 @@ url: "https://www.futard.io/launch/6JSEvdUfQuo8rh3M18Wex5xmSacUuBozz9uQEgFC81pX"
date: 2026-01-01
domain: internet-finance
format: data
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tags: [futardio, metadao, futarchy, solana]
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---

View file

@ -6,7 +6,7 @@ url: "https://www.futard.io/launch/zwVfLheTvbXN5Vn2tZxTc8KaaVnLoBFgbZzskdFnPUb"
date: 2026-01-01
domain: internet-finance
format: data
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tags: [futardio, metadao, futarchy, solana]
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---

View file

@ -6,7 +6,7 @@ url: "https://www.futard.io/launch/8Nmd13rpULJjY7h6oxCfuTWy8WkZxcuDrDWiSdnViVuo"
date: 2026-01-06
domain: internet-finance
format: data
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tags: [futardio, metadao, futarchy, solana]
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---

View file

@ -7,7 +7,13 @@ date: 2026-01-13
domain: internet-finance
secondary_domains: []
format: article
status: unprocessed
status: processed
processed_by: rio
processed_date: 2026-03-11
claims_extracted:
- "state-securities-regulators-constitute-a-coordinated-institutional-block-opposing-federal-digital-asset-preemption-that-persists-independently-of-federal-legislative-progress"
- "state-securities-regulators-and-gaming-commissions-independently-converging-on-federal-preemption-opposition-reveals-a-cross-institutional-states-rights-pattern-in-digital-asset-governance"
enrichments: []
priority: medium
tags: [nasaa, regulation, clarity-act, state-regulators, federal-preemption, investor-protection]
---

View file

@ -6,7 +6,7 @@ url: "https://www.futard.io/launch/HT3ScC7gyo3zTn95s9jR7J3ez5u8HrRfFwD33YjMHLy3"
date: 2026-02-03
domain: internet-finance
format: data
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tags: [futardio, metadao, futarchy, solana]
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---

View file

@ -6,7 +6,7 @@ url: "https://www.futard.io/launch/2n4GG73NrvpmZCeZ3SPSUwzfWv1MyLSDBc29tRwUccPP"
date: 2026-02-17
domain: internet-finance
format: data
status: entity-data
status: unprocessed
tags: [futardio, metadao, futarchy, solana]
event_type: launch
processed_by: rio

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