BroadChain News, April 28 - The U.S. Securities and Exchange Commission (SEC) is seeking public comments on a proposed 85% asset restriction rule by NYSE Arca, which could impact the listing structure of crypto ETFs. The proposal requires that at least 85% of assets in commodity trust shares meet existing eligibility criteria, with derivatives calculated at nominal gross value. Eligible assets include futures contracts with at least six months of trading history and assets with significant exposure to ETFs, such as Bitcoin, Ethereum, Solana, and XRP, while NFTs and collectibles are excluded. If a trust holds Bitcoin and over-the-counter call options on Bitcoin ETFs, only 71% of the exposure qualifies. The SEC may approve, reject, or initiate proceedings during the review period.
Yesterday, Bitcoin spot ETFs saw a total net outflow of $263 million, ending a nine-day streak of net inflows. Meanwhile, Binance HODLer Airdrop launched its 63rd project, USD.AI (CHIP). Block.com published a proof of reserves, verifying its Bitcoin holdings are worth approximately $2.2 billion. A ban on crypto self-service kiosks in the U.S. state of Tennessee will take effect on July 1. The Russian government committee has approved a proposal to tax income from cryptocurrency transactions.
Japan's Financial Services Agency has explicitly classified the issuer of the yen stablecoin JPYC as a "funds transfer service provider." Multiple Japanese government departments jointly issued a document clarifying the rules for using cryptocurrencies in real estate transactions and strengthening anti-money laundering obligations. Japan's Ministry of Land, Infrastructure, Transport and Tourism, Financial Services Agency, National Police Agency, and Ministry of Finance require real estate transaction operators to note that converting cryptocurrencies into fiat currency or acting as an intermediary may constitute crypto trading activities, and engaging in such activities without registration would violate the "Funds Settlement Act." Strict anti-money laundering obligations must be followed when accepting cryptocurrency payments, and suspicious transactions must be reported. Individuals receiving over 30 million yen in cryptocurrencies from overseas and non-residents purchasing real estate in Japan must submit relevant reports.