SEC Cancels Crypto Token Exemption Meeting

The Securities and Exchange Commission canceled a planned meeting on registration exemptions for crypto tokens, according to a report by Pymnts.com. The cancellation lands in the same 24-hour window as data showing retail sales suffered their biggest drop in more than a year, a decline The Daily Caller attributed in part to uncertainty over the Iran conflict.

The retail sales figure adds to a string of demand-side signals that have accumulated since March, when the Workshop began tracking a Fed Credibility Crisis and Inflation Resurgence narrative. Separately, the White House said a $112 billion tariff-evasion scheme had worsened under existing enforcement gaps, according to Fortune, adding to friction in import-cost pass-through that some economists link to stagflation risk rather than simple demand destruction.

On the fiscal side, President Trump ordered the Navy to restore older technology systems on aircraft carriers at a cost of billions of dollars, the Wall Street Journal reported, while Bloomberg reported that major U.S. defense firms are racing to produce cheaper missiles. Red Cat Holdings shares jumped on tariff-related news favoring domestic drone makers, according to Biztoc.com, with some analysts cited seeing further upside.

Equity markets were closed during the reporting window, leaving cash-index reaction to the retail sales data unconfirmed. Bloomberg also reported that a New Mexico gas pipeline supplying an Oracle data center has been delayed to 2027, a data point the Workshop has been tracking as part of a broader U.S. data-center energy capacity story since July.