Crypto markets on Aug. 31 were led by a cluster of stories around Robinhood Chain activity, tokenized stock trading, and U.S. crypto legislation. Robinhood Chain posted $945 million in single-day DEX volume on Aug. 29, setting a new all-time high and moving above its previous peak from mid-July. Token Terminal said the seven most actively traded tokenized stocks all sit on either BNB Chain or Robinhood Chain, generating a combined $4.3 billion in DEX volume over the past 30 days. Pons, a token launch platform active on Robinhood Chain, said it has paid $20.93 million to token creators over the past 47 days, while Dune data showed 23,080 tokens were deployed on Robinhood Chain on Aug. 29, with Pons V2 accounting for 15,957 of them, or about 69.1%. The broader news flow also included a planned Sept. 15 procedural vote in the U.S. Senate on the CLARITY Act, new governance and infrastructure updates from Hyperliquid, Solana and Deribit, multiple security incidents across Cosmos-linked and other networks, and a series of market comments from figures including Tom Lee, Ki Young Ju, Ansem and Bonk Guy. In spot trading, UNI was the only gainer among the listed top-10 CEX turnover tokens, up 11.2%, while ZORA led the OKX 24-hour gainers with a 33.52% rise.

BitGo said it has completed the acquisition of NYDIG’s institutional trading business in a cash-and-stock deal worth about $42.5 million, adding derivatives, structured products, and capital markets capabilities. Roughly 30 NYDIG employees and related institutional client relationships will move to BitGo. Binance, meanwhile, said it will list a NIULAI USDT perpetual contract at 19:30 on Aug. 30 Beijing time with leverage of up to 10x. The PANews daily roundup also covered a security report from Cosmos Labs on an EVM module vulnerability that affected six networks, comments from Tether CEO Paolo Ardoino pushing back on criticism from the Bank for International Settlements, and market views from CryptoQuant analyst Darkfost, Arthur Hayes, JackYi, and Jiang Zhuoer. Other items included Ajna v2’s reported exploit, Polygon’s urgent client upgrade notice after the Austin and Kyoto hard forks, SK Telecom’s plan to spin off its AI data center arm, and trading data from South Korea’s top crypto exchanges.

The Independent Community Bankers of America, which represents about 5,000 U.S. community banks, is opposing the Digital Asset Market Clarity Act, or CLARITY Act, according to ChainCatcher. ICBA President and CEO Rebeca Romero Rainey said what she described as a loophole tied to stablecoin rewards must be fully closed, adding that there is no middle ground on the issue. The group argues that stablecoins could pull $1.3 trillion in deposits out of the banking system and reduce local lending by $850 billion. ICBA has also pushed Republican senators Josh Hawley and Jerry Moran to oppose the bill in its current form. Romero Rainey said there is no sign that crypto would replace those deposits and send them back into local communities. She also criticized a White House Council of Economic Advisers report titled “The Effect of Prohibiting Stablecoin Yield on Bank Lending,” saying it downplayed banks’ concerns about deposit outflows. The Senate is scheduled to vote on the CLARITY Act on Sept. 15. If the bill fails to secure at least 60 votes, it will not move to the next stage of consideration and could stall for the foreseeable future.

The Independent Community Bankers of America, which represents about 5,000 U.S. community banks, is pushing back against the Digital Asset Market Clarity Act, or CLARITY Act. ICBA President and CEO Rebeca Romero Rainey said loopholes tied to stablecoin rewards should be closed completely, with no compromise. The group argues that stablecoins could pull as much as $1.3 trillion in deposits out of the banking system and reduce local lending by $850 billion. ICBA also said it helped persuade Republican Senators Josh Hawley and Jerry Moran to oppose the current version of the bill. Rainey added that there is no sign crypto would replace those deposits in a way that sends money back into local communities. She also criticized a Council of Economic Advisers report titled Impact of Stablecoin Yield Ban on Bank Lending, saying it downplayed banks’ concerns about deposit outflows. The Senate is scheduled to vote on the CLARITY Act on Sept. 15. If the bill fails to win at least 60 votes, it will not move to the next stage of consideration and could stall for the foreseeable future, according to Bitcoin.com News.

Bloomberg reports five major US banking groups jointly demand changes to the CLARITY Act stablecoin yield compromise, fearing activity-based rewards could drain deposits. The May 14 markup will be decisive.

U.S. community banking groups are challenging the OCC’s conditional approval of Coinbase’s national trust bank charter, arguing the company has not met core standards on risk controls, profitability, and resolution planning.

A second White House meeting on stablecoin yield rules produced some movement, including bank openness to possible exemptions, but banks and crypto firms still failed to reach a final agreement.

Kraken Financial has secured a limited-purpose Federal Reserve master account, becoming the first crypto-native firm with direct access to core U.S. payment rails. Banking groups say the move raises compliance, transparency, and financial stability concerns.