[ Chicago Board Options Exchange plans to integrate digital asset business into its global derivatives and settlement business]
According to financefeeds, the Chicago Board Options Exchange (Cboe) announced that it will restructure its digital asset business in the third quarter of 2024. This move was made after a strategic review taking into account regulatory uncertainties in the digital field.
The company plans to fully transition and integrate its digital asset derivatives currently offered by Cboe Digital into its existing global derivatives and clearing businesses. In addition, Cboe will cease operating Cboe Digital Spot Market, the company's spot digital asset trading platform, in the third quarter of 2024.
[Crypto Bank Custodia Bank Appeals Its Federal Reserve Membership Loss Case]
Custodia Bank, a Wyoming-based cryptocurrency bank, has filed a notice of appeal against a previous court ruling that upheld the Federal Reserve’s rejection of its master account and membership applications. A federal judge ruled last month that the Kansas City Fed had the authority to reject Custodia’s membership application, and that the master account would allow Custodia to access the Federal Reserve directly without the need for an intermediary bank.
Custodia is governed by Wyoming law and is a special purpose depository institution, which is a bank that accepts deposits and can perform custodial activities, among other things.
[The U.S. SEC postpones its decision on the listing and trading of spot Bitcoin ETF options and seeks public comments]
The U.S. Securities and Exchange Commission has again delayed a series of proposals to allow options on spot bitcoin exchange-traded funds until public comment.
Several exchanges had previously applied to allow options trading on the newly approved spot Bitcoin ETF, including Cboe Exchange, Inc., BOX Exchange LLC, MIAX International Securities Exchange LLC, Nasdaq ISE, LLC and NYSE American LLC, all of which were delayed in Thursday's filing.
The SEC said comments will be submitted within the next 21 days and rebuttal comments will be submitted within 35 days. The agency raised questions such as whether options on spot bitcoin ETFs should follow the same rules as stocks.
Consensys files lawsuit against SEC to defend Ethereum ecosystem
Blockchain and web3 software technology company Consensys filed a lawsuit against the United States Securities and Exchange Commission (SEC) today in an effort to defend the Ethereum ecosystem, according to an official announcement.
The complaint highlights how the SEC has attempted to illegally regulate Ethereum through special enforcement actions against Consensys and other agencies, the latest example of the SEC's aggressive and illegal overreach. The lawsuit states that if allowed to expand its regulatory authority, the SEC will effectively destroy the value of hundreds of millions of Ethereum holders and cause the United States to stop using the Ethereum blockchain, thereby undermining the technological development of the Internet.
The complaint seeks a ruling from the court that the SEC has no legal authority to regulate Ethereum, the user-controlled software interfaces built on Ethereum, or the Ethereum blockchain.
The complaint, Consensys Software Inc v. Gary Gensler et al, was filed in the U.S. District Court for the Northern District of Texas.
[BlackRock IBIT accounts for 24% of the company's total global ETF flows]
Eric Balchunas, senior ETF analyst at Bloomberg, said that BlackRock's spot Bitcoin ETF (IBIT) is "excellent." He said: "I know they are very interested in this IBIT, which accounts for 24% of the company's total global 1,000 ETF flows. You know, this even caught the attention of Larry Fink."
BlackRock’s spot Bitcoin ETF attracted more than 70 consecutive days of inflows after it began trading in January, making it one of the most successful ETFs in history.
[EU anti-money laundering bill passes final vote, will strengthen due diligence measures and checks on customer identity]
According to The Block, the European Parliament voted on Wednesday to pass a series of laws aimed in part at strengthening "due diligence measures and checks on the identity of customers," including so-called crypto asset managers, who will also have to report suspicious activity to authorities.
The new law will affect crypto asset service providers (CASPs), such as centralized crypto exchage, as well as a variety of other institutions including betting services.
Patrick Hansen, Circle's EU strategy and policy director, said in a post on X that the vote was expected, saying: "The package will be formally adopted by the EU Council and will start to be implemented in three years."
[U.S. SEC seeks public comments on revised version of BlackRock's proposed spot Ethereum ETF]
The U.S. Securities and Exchange Commission (SEC) is seeking public comments on a revised version of BlackRock’s proposed spot Ethereum exchange-traded fund (ETF).
BlackRock proposed the ETF, which aims to track the price performance of Ethereum, in November 2023. The SEC postponed its decision on the proposal in January, and on April 19, Nasdaq filed an amendment to the proposal, with the revised document discussing the creation and redemption process of the ETF.
"The Commission is issuing this notice to solicit comments from interested parties on the proposed rule changes (as modified by Amendment No. 1)," the SEC said in a filing on Tuesday. The comments will be posted on the SEC website within 21 days, the SEC said.
[SEC postpones decision on Franklin Templeton, Grayscale's proposed spot Ethereum ETF proposal]
The SEC said in a filing on Tuesday that it has postponed the decision on Franklin’s Ethereum ETF until June 11, 2024, after which the SEC can approve or disapprove or file a lawsuit.
Additionally, the SEC on Tuesday postponed the next resolution deadline for Grayscale’s proposed Ethereum spot ETF to June 23, 2024.
Well-known companies including Fidelity and BlackRock have applied for spot Ethereum ETFs in the past few months. Optimism about the SEC approving such products has steadily declined in the past few months. For example, Bloomberg ETF analyst Eric Balchunas lowered his estimate of the probability of a spot Ethereum ETF being approved in May from about 70% to 25%.
[BlackRock Chief Investment Officer: The Federal Reserve can still cut interest rates twice this year]
BlackRock Chief Investment Officer Rick Rieder said he expects U.S. inflation data to improve and he has "reduced interest rate exposure" and believes the Federal Reserve can still cut interest rates twice this year.
[SBF signed a settlement agreement with some FTX customers, agreeing to assist in filing lawsuits against celebrity promoters and venture capital firms]
Sam Bankman-Fried signed a settlement with a group of FTX customers who agreed to drop their class-action lawsuit against him in exchange for his help in suing FTX’s celebrity promoters and some venture capital firms.
The agreement, filed in a Miami court on Friday and yet to be approved by a judge, would indemnify Bankman-Fried from current and future civil liability related to the FTX collapse.
Bankman-Fried’s co-defendants Caroline Ellison , Nishad Singh and Gary Wang, as well as FTX attorney Dan Friedberg, also reached similar settlements with plaintiffs’ attorneys.
It is reported that most of FTX's promoters, such as athletes Tom Brady, Stephen Curry, Shaquille O'Neal, Naomi Osaka, Shohei Otani and supermodel Gisele Bundchen, have been involved in lawsuits due to the incident.
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