Right this moment in crypto, US exchanges are searching for regulatory approval for a unified crypto fund itemizing framework; Coinbase and JPMorgan group as much as supply crypto entry to Chase clients; and Samourai Pockets’s co-founders plan to alter their not responsible pleas.
Cboe, NYSE Arca transfer to streamline crypto ETF listings with SEC rule change request
The Chicago Board Choices Alternate (CBOE) has filed a rule change request with the US Securities and Alternate Fee (SEC) to permit crypto fund issuers to checklist merchandise beneath a unified framework, probably eradicating the necessity for particular person approvals for every new fund.
The submitting was highlighted by ETF analyst Nate Geraci, who famous that the proposed rule change might streamline the approval course of for crypto exchange-traded funds (ETFs).
If the rule change passes, “issuers wouldn’t should request particular approval for every crypto ETF so long as it meets sure standards,” Geraci mentioned.
Geraci mentioned an analogous submitting was additionally submitted by the NYSE Arca.
Beneath present laws, exchanges are required to file a 19b-4 type for every new crypto ETF providing, initiating a prolonged and infrequently complicated evaluate course of by the SEC.
The filings got here at some point after the SEC accepted in-kind creations and redemptions for crypto ETFs, bringing the asset class nearer in keeping with conventional fund buildings.
JPMorgan to permit crypto purchases with Coinbase
JPMorgan Chase has partnered with crypto alternate Coinbase to introduce crypto integrations to its clients, a step in bridging conventional finance with digital belongings.
Coinbase introduced Wednesday that Chase bank card holders can use their playing cards to purchase crypto on Coinbase beginning this fall. As well as, Coinbase mentioned JPMorgan’s clients will even be capable to redeem their Chase Final Rewards Factors for USDC (USDC) in 2026.
Coinbase mentioned this would be the first main rewards program redeemable for crypto. “For the primary time, factors from a serious bank card rewards program will likely be redeemable for crypto rewards,” Coinbase mentioned.
Coinbase additionally mentioned Chase card customers can hyperlink their accounts to Coinbase immediately. The alternate mentioned this function, scheduled for 2026, will give customers simpler methods to purchase crypto.
The brand new integration follows a broader push by JPMorgan into digital belongings.
On July 16, JPMorgan CEO Jamie Dimon revealed in an earnings name that the corporate had plans to be concerned in stablecoins. The transfer was pushed by competitors with different fintech corporations which can be making an attempt to duplicate conventional monetary methods.
“We’re going to be concerned in each JPMorgan deposit coin and stablecoins to grasp it and be good at it,” Dimon mentioned.
Samourai Pockets co-founders to now plead responsible to US expenses
Samourai Pockets co-founders Keonne Rodriguez and William Lonergan Hill indicated on Tuesday that they may change their not responsible plea to US expenses stemming from their involvement within the crypto mixing protocol.
Filings in a New York federal courtroom present Rodriguez and Hill would change their pleas earlier than the courtroom on Wednesday morning. The 2 had pleaded not responsible and tried to dismiss expenses tied to Samourai Pockets, which prosecutors alleged was an unlicensed money-transmitting enterprise that processed over $2 billion value of illegal transactions.
Rodriguez, Samourai’s CEO, and Hill, its chief expertise officer, have been charged with conspiracy to commit cash laundering, which carries a most jail sentence of 20 years.
The pair have been additionally charged with working an unlicensed money-transmitting enterprise, which carries a sentence of 5 years, which means they might face a most of as much as 25 years behind bars.
