Daily Crypto Roundup - 18 Sep

Today’s Market Update

Bitcoin was down 1.76% at $117,596, Ethereum was up 2.45%, Solana was up 5.69%, and XRP was down 3.46% over the past 24 hours.

Crypto Caeser said that Bitcoin reclaiming $117,000 could mark a successful breakout and pave the way to $120,000, though another rejection risks a move back to lower support.

Daan Crypto Trades highlighted $118,000 as the critical level, a high-volume node and the top of the initial Powell rally after Jackson Hole's dovish talk. Holding above could quickly send BTC back to range highs.

Crypto Dynamics Roundup

U.S. SEC approves faster listing for Bitcoin and gold ETPs

The U.S. Securities and Exchange Commission (SEC) approved a streamlined listing process for exchange-traded products (ETPs) holding spot commodities like gold or Bitcoin on three exchanges. The SEC stated that the Chicago Board Options Exchange (CBOE), Nasdaq, and NYSE can list commodity-based trust shares if they meet “approved universal listing standards.”

SEC Chair Paul Atkins said: “This approval enhances investor choice and fosters innovation by simplifying listing and reducing barriers to digital asset products in trusted U.S. markets.”

U.S. Congress advances Bitcoin strategic reserve bill, aims to buy 1 million BTC in 5 years

Crypto in America reports that Congress held a Bitcoin strategic reserve legislation meeting on September 17, attended by Senators Ted Cruz, Marsha Blackburn, MicroStrategy’s Michael Saylor, and others.

The BITCOIN Act, reintroduced by Senator Cynthia Lummis in March, aims to designate Bitcoin as a national strategic reserve asset alongside gold, requiring the U.S. to acquire 1 million BTC over 5 years.

Digital Power Network’s Hailey Miller said attendees strongly agreed on the need for a reserve, with plans to integrate it into broader policy. The proposal expands on President Trump’s ban on selling seized Bitcoin. Lummis acknowledged persuading Congress may take time due to controversy outside crypto circles.

U.S. SEC approves universal listing standards for commodity trust shares, easing digital asset ETF process

On September 17, the SEC approved universal listing standards for commodity-based trust shares, including digital assets, for major exchanges. Qualifying products can list without individual rule filings.

SEC Chair Paul Atkins said this boosts investor choice, innovation, and lowers market entry barriers. Jamie Selway, SEC markets division head, noted it provides regulatory clarity and investor protection. The SEC also approved Grayscale’s digital large-cap fund (based on the CoinDesk 5 Index) and options trading for Bitcoin ETF indices on Cboe.

NY financial regulator mandates banks use blockchain analytics to combat illicit activity

The New York State Department of Financial Services (NYDFS) issued guidance on Wednesday requiring banks to use blockchain analytics to combat illicit activities. NYDFS Superintendent Adrienne Harris said banks expanding into virtual currency must adopt new tools to address emerging risks.

The guidance emphasizes blockchain analytics for customer wallet screening and digital asset risk assessments to prevent money laundering, terrorist financing, and sanctions evasion.

UK FCA plans to exempt some crypto firms from traditional financial rules

The Financial Times reports the UK Financial Conduct Authority (FCA) will fully regulate crypto firms from next year but exempt them from some traditional rules. The FCA said applying existing financial regulations directly is impractical and will adjust measures based on risk.

Crypto platforms will be exempt from “fair conduct” and “client interest priority” principles, with no cooling-off periods or cancellation rights. The FCA will strengthen controls on operational risks like cyberattacks and is consulting on consumer protection obligations.

Standard Chartered, Qatar National Bank, DMZ Finance launch tokenized money market fund

Qatar National Bank Group (QNB), Standard Chartered, and DMZ Finance launched the regulated QCD money market fund in the Dubai International Financial Centre. QNB, the Middle East and Africa’s largest bank, initiated and manages the underlying investments, with DMZ Finance as co-sponsor and sole tokenization infrastructure provider.

Centralized exchange BTC supply at 7-year low

Crypto analyst The DeFi Investor posted on X that Bitcoin supply on centralized exchanges is at a 7-year low, highlighting the massive institutional capital flowing into Bitcoin this cycle.

Gemini stock falls below $28 IPO price, market cap drops to $2.9 billion

The Winklevoss brothers’ Gemini Space Station (GEMI.US) stock fell below its $28 IPO price on Wednesday, closing at $24.53, down 12.8%, with a market cap of $2.9 billion. Listed on September 12, it surged initially but has since faced pressure.

SEC filings show Gemini’s chief legal officer Tyler Meade and COO Marshall Beard reported multiple insider stock transactions on Monday.