[Weekly Web3 News Picks] Chicago Options Exchange plans to integrate digital asset business into its global derivatives and settlement business; SEC issues Wells notice to Consensys about MetaMask, and Consensys files a lawsuit against SEC; BlackRock IBIT accounts for 24% of the company's total global ETF traffic; SEC delays decision on Franklin Templeton and Grayscale's proposed spot Ethereum ETF proposals; BlackRock Chief Investment Officer: The Federal Reserve can still proceed this year Interest rate cut twice

【Chicago Board Options ExchangeIt is proposed to integrate the digital asset business into its global derivatives and settlement business]

Comparative news, 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 to take into account regulatory uncertainty in the digital sector.

The company plans to fully transition and integrate its digital asset derivatives currently provided by Cboe's digital division into its existing global derivatives and settlement business. Additionally, Cboe will cease operating the Cboe digital spot market, the company's spot digital asset trading platform, in the third quarter of 2024.

[Crypto bankingCustodia Bank[File an appeal against its loss of membership in the Federal Reserve]

According to Twitter, the Wyoming-based cryptocurrency bank Custodia Bank has filed a notice of appeal against a previous court ruling supporting the Federal Reserve's rejection of its main account and membership application. A federal judge ruled last month that the Kansas City Federal Reserve has the right to decline Custodia's membership application, and the main account would allow Custodia direct access to the Federal Reserve without the need for an intermediary bank.

Custodia is governed by Wyoming law. It is a special purpose depository institution, a bank that accepts deposits and can carry out activities such as escrow.

[US SEC Postpones Decision on Listing and Trading of Spot Bitcoin ETF Options and Seeks Public Comments]

Comparing news, the US Securities and Exchange Commission has once again postponed a series of proposals to allow spot Bitcoin exchange-traded fund options and is seeking public comment.

Several exchanges have previously applied to allow options trading on newly approved spot Bitcoin ETFs, 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 spot Bitcoin ETF options should follow the same rules as stocks.

【ConsensysLawsuit against SEC to defend the Ethereum ecosystem]

According to an official announcement, blockchain and web3 software technology company Consensys filed a lawsuit against the US Securities and Exchange Commission (SEC) today to defend the Ethereum ecosystem.

The complaint highlights how the SEC is trying to illegally regulate Ethereum through special enforcement actions against Consensys and other agencies. This is the latest example of the SEC's aggressive and illegal overstepping of authority. The lawsuit says that if allowed to expand its regulatory powers, the US SEC will effectively destroy the value of hundreds of millions of Ethereum holders and cause the US to stop using the Ethereum blockchain, thereby weakening the technological development of the Internet.

The lawsuit seeks court confirmation that the SEC has no legal authority to regulate Ethereum, user-controlled software interfaces built on Ethereum, or the Ethereum blockchain.

A lawsuit against Gary Gensler and others has been filed with the U.S. District Court for the Northern District of Texas.

[BlackRock IBIT accounts for 24% of the company's total global ETF traffic]

Comparing news, Bloomberg's senior ETF analyst Eric Balchunas said BlackRock's spot Bitcoin ETF (IBIT) was “excellent.” He said, “I know they are very interested in this IBIT, which accounts for 24% of the company's total flow of 1,000 ETFs worldwide. You know it even got Larry Fink's attention.”

BlackRock's spot Bitcoin ETF attracted over 70 consecutive days of capital inflows after beginning trading in January, making it one of the most successful ETFs in history.

[The EU Anti-Money Laundering Act passed the final vote, which will strengthen due diligence measures and customer identity checks]

Comparatively, according to The Block, the European Parliament voted to pass a series of laws on Wednesday, some aimed at strengthening “due diligence measures and checks on customer identity,” including so-called crypto asset managers, who must also report suspicious activity to the authorities.

The new law will affect crypto asset service providers (CASPs), such as centralized crypto exchanges, and various other institutions, including betting services.

Circle EU Strategy and Policy DirectorPatrick HansenSaid in a post on X that the vote was expected, he said, “The package of laws will be officially adopted by the European Council and will be implemented in three years.”

[US SEC Seeks Public Comments on the Revised Version of BlackRock's Proposed Spot Ethereum ETF]

Comparatively, the US Securities and Exchange Commission (SEC) is seeking public comments on BlackRock's revised version of the Spot Ethereum Exchange Traded Fund (ETF).

BlackRock proposed the ETF in November 2023 to track Ethereum's price performance. The SEC delayed its decision on the proposal in January, and on April 19, Nasdaq proposed an amendment to the proposal. The revised document discussed the ETF creation and redemption process.

The US SEC said in a document submitted on Tuesday: “The Commission issued this notice to solicit comments from interested parties on the proposed rule changes (as amended by the First Amendment).” The SEC said the comments will be posted on the SEC website within 21 days.

[SEC Delays Decision on Franklin Templeton, Grayscale's Proposed Spot Ethereum ETF Proposal]

The SEC said in a filing on Tuesday that the agency delayed the Franklin Ethereum ETF resolution until June 11, 2024, after which the SEC could approve or disapprove or file a lawsuit.

Additionally, the SEC on Tuesday extended the next resolution deadline for Grayscale's proposed Ethereum spot ETF to June 23, 2024.

including Fidelity (Fidelity) and BlackRock (BlackRockWell-known companies, including), have applied for a spot Ethereum ETF in the past few months. Optimism that the SEC will approve such products has declined steadily over the past few months. For example, Bloomberg ETF analyst Eric Balchunas lowered his estimate of the probability of approval for a spot Ethereum ETF in May from around 70% to 25%.

[BlackRock Chief Investment Officer: The Federal Reserve can still cut interest rates twice this year]

Comparing news, BlackRock's chief investment officer Rick Rieder said that the US inflation data is expected to improve. He has “reduced interest rate exposure” and believes that the Federal Reserve can still cut interest rates twice this year.

[SBF signs settlement agreements with some FTX clients to assist in filing lawsuits against celebrity promoters and venture capital firms]

Comparing news,Sam Bankman-FriedSettlements were signed with a group of FTX clients who agreed to drop the class action lawsuit against him in exchange for his help suing FTX's celebrity sponsors as well as some venture capital firms.

The agreement was submitted to the Miami court on Friday and has yet to be approved by a judge. If approved, the settlement would exempt Bankman-Fried from current and future civil liabilities associated with the collapse of FTX.

Bankman-Fried's co-defendantsCaroline Ellison、Nishad SinghGary Wang and FTX attorney Dan Friedberg also reached a similar settlement with the plaintiff's attorney.

According to reports, most FTX promoters, such as athletes Tom Brady, Stephen Curry, Shaquille O'Neal, Osaka Naomi, Otani Shohei, and supermodel Giselle Bundchen, were involved in lawsuits due to this incident.

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