Remember that awesome fan made Street Fighter short called, Street Fighter Legacy from two years ago? If you don't go watch it, its really well made, much better that what Hollywood produced. Capcom seems to have remembered that short as well, because during the Street Fight 25th anniversary pannel at SDCC, this annoucment video was shown:
Taking a page from WB and the Mortal Kombat web series, Capcom has sign on the talent behind Legacy to produce Street Fighter: Assassin's Fist. Assassin's Fist will based around the orign stories of Ryu, Ken, Goken and the Raging Demon himself, Akuma. Like with most video game movies, there is some caution to be taken, but if the Legacy short is any indication, this might be a really good series with a bigger budget, Capcom's blessing and most importantly no Hollywoold involvment. Production is set to start in 2013 and will be released later that year, maybe in time for EVO perhaps?