Coinbase has received a 16-page no-action letter from the U.S. Commodity Futures Trading Commission (CFTC), allowing its subsidiary, CFM, to offer perpetual contracts and options on digital commodities such as BTC, ETH, SOL, and DOGE to U.S. institutional clients via Deribit FZE. This approval also enables clients to transfer digital assets and stablecoins directly to Deribit FZE as margin. Meanwhile, JPMorgan CEO Jamie Dimon has publicly opposed the CLARITY Act, which is progressing in the Senate. In a Fox Business interview, Dimon criticized the bill for allowing crypto companies to offer yield rewards in stablecoins, potentially circumventing traditional banking standards. He has joined forces with the American Bankers Association to challenge the bill.