BBX: Coinbase authorized by CFTC to access Deribit global derivatives up+3.72%; JPMorgan Damon declares war on CLARITY Act

BBX News: Coinbase received a CFTC no action letter on May 29th, becoming the first regulated US exchange to access global crypto perpetual contracts and options (through the $2.9 billion acquisition of Deribit FZE); JPMorgan CEO Damon declared war on the CLARITY Act on Fox Business on the same day, stating that "the banking industry will not accept it". Core points: ——Coinbase (NASDAQ: COIN): On May 29th, the CFTC 16 page no action letter authorized CFM to provide global cryptocurrency derivatives (perpetual contracts+options, BTC/ETH/SOL/DOGE, etc.) to US institutions through Deribit FZE; Deribit's $2.9 billion acquisition marks the first regulatory landing; $31 billion BTC option OI; same day institutional settlement; From+3.72% to $189 on the same day. ——JPMorgan Chase (NYSE: JPM): CEO Damon publicly opposes the CLARITY Act on May 29th, stating that the banking industry will fight; Attacking Armstrong's lobbying behavior; ABA United Front; The CLARITY bill still has 60 votes remaining in the Senate, with opposition from the banking industry being the biggest obstacle. Source: bbx.com