The House of Representatives in the U.S. has voted to overturn a rule that would have classified various crypto entities, including decentralized finance platforms, as brokers.

Crypto asset manager Bitwise has launched an exchange-traded fund offering investors exposure to companies that have amassed substantial bitcoin holdings.

Nasdaq-listed cryptocurrency exchange Coinbase has secured registration with India’s Financial Intelligence Unit (FIU), bringing the company closer to fully returning to the country.

Top stories in the Crypto Roundup today:

• U.S. House Votes to Overturn Crypto Broker Rule
• Bitwise Unveils ETF Tracking Companies With Over 1,000 BTC Holdings
• Coinbase Takes Step Toward Reentering Indian Market With FIU Registration

U.S. House Votes to Overturn Crypto Broker Rule

The House of Representatives in the U.S. has voted to overturn a rule that would have classified various crypto entities, including decentralized finance platforms, as brokers.

Through a 292-132 vote, a bipartisan coalition in the House lined the U.S. Senate in overturning a rule finalized in the final days of former President Joe Biden’s administration.

The Senate, which last week passed its own version of the resolution with 70 votes, will need to revote over budgetary procedures. If it approves the resolution and President Trump signs it, the IRS would be permanently barred from enacting a similar rule.

Bitwise Unveils ETF Tracking Companies With Over 1,000 BTC Holdings

Crypto asset manager Bitwise has launched an exchange-traded fund offering investors exposure to companies that have amassed substantial bitcoin holdings.

The Bitwise Bitcoin Standard Corporations ETF, which will trade under the ticker OWNB, seeks to “track the Bitwise Bitcoin Standard Corporations Index, a new equity index of companies with at least 1,000 bitcoin in their corporate treasuries,” according to the firm.

Bitwise’s chief investment officer Matt Hougan noted that companies hold bitcoin for the “exact same reasons people do,” adding in a statement that “these companies perceive bitcoin as a strategic reserve asset that’s liquid and scarce — and not subject to the whims or money printing of any government.”

The ETF’s largest holdings include the largest corporate holder of bitcoin Strategy (MSTR), bitcoin miners including MARA Holdings (MARA), CleanSpark (CLSK), and Riot Platforms (RIOT), among others.

Coinbase Takes Step Toward Reentering Indian Market With FIU Registration

Nasdaq-listed cryptocurrency exchange Coinbase has secured registration with India’s Financial Intelligence Unit (FIU), bringing the company closer to fully returning to the country.

The company has been active in the country several years ago, but faced significant regulatory pressure until it eventually stopped offering its services in India. In 2022, for example, it started operating in the country before “informal pressure” from the Reserve Bank of India made the exchange back away.

In 2023, it ended up closing off user registrations while offering wallet services to users in the country. Its FIU registration is a new step towards reentering the Indian market.

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