Weekly Roundup

MEMX Options: U.S. market operator MEMX received SEC approval to launch an options trading platform. MEMX Options will be the market operator’s second exchange, folloswing the launch of its equity exchange in 2020.

Crypto Crackdown: US market regulators have indicated that they will crack down on violations, such as insider trading and fraud, as strongly as they do in traditional finance. The SEC is using pre-existing rules in traditional finance to police the crypto market.

Schwab ETF: Schwab Asset Management launched the Schwab Crypto Thematic ETF, allowing investors an indirect way to play cryptocurrencies significantly. According to SVP David Botset, the fund is “the lowest-cost crypto-related product in the marketplace at 30 basis points.”

Crypto Ban: The Treasury Department has prohibited Americans from using the cryptocurrency platform Tornado Cash, saying the platform has helped criminals launder $7+ billion of virtual currencies.

Crypto Coverage: Insurers struggle with the unregulated nature of digital assets and are having difficulty defining and pricing the risk. Because of this, some insurance companies are taking steps to exclude coverage for crypto-related risks.

Ethereum Final Rehearsal: Ethereum has run its final rehearsal before it adopts a proof-of-stake model for its network next month. This model will be less energy intensive than the existing proof-of-work method.

Retail Investing Falls: According to data from Bloomberg, from January to June retail-investing activity fell from its 2021 highs. Individual investors made up a lower percentage of trades in equities and options markets versus last year.

In the Mix: This Week’s Top FinTech Thought Leader