Markets

21Shares Applies for Hyperliquid ETF as New Crypto Funds Hit Market

In brief 21Shares wants to list a Hyperliquid exchange-traded fund. HYPE, the native coin of decentralized exchange Hyperliquid, is the 16th biggest cryptocurrency by market cap. The SEC is weighing ETF applications tracking different altcoins, and combinations of tokens. Exchange-traded fund issuer 21Shares has applied for an exchange-traded fund tracking the token of the Hyperliquid…

Law and Order

Australia’s Financial Regulator Flags Broader Oversight of Crypto Under Updated Guidance

In brief ASIC has released an updated version of Info Sheet 225, expanding how financial-services laws apply to digital assets, including stablecoins, staking, and tokenized products. The guidance introduces new custodial standards and 18 classification examples while reaffirming that Australian law applies to offshore and decentralized platforms serving local users. The update aligns with Treasury’s…

DeFi

Coinbase Disrupts Bitcoin Backed Lending With Low Bar for Servicing Americans

In brief Coinbase offers Bitcoin-backed loans as a technology provider. The exchange’s competitors have state-by-state licenses. Coinbase applied for a national trust charter this month. As Coinbase leans into its Bitcoin-backed lending product, the exchange is offering customers competitive rates by connecting them with lightly vetted pools of capital, which don’t require people to provide…

Law and Order

China Maintains Scrutiny of Crypto While Asia Embraces Stablecoins

In brief China’s central bank will continue cracking down on domestic crypto operations while monitoring overseas stablecoin developments.   PBOC Governor Pan warned stablecoins “can’t meet the basic requirements like customer identification and anti-money laundering.”  Meanwhile, Japan rolled out JPYC, the first yen-backed stablecoin, and South Korea launched KRW1, its first regulated won-backed token. China will…