The UK is taking another step toward a fully regulated crypto market after the Financial Conduct Authority (FCA) published draft guidance clarifying which cryptoasset activities will sit inside its future regulatory framework. In a consultation released on 15 April, the FCA said the guidance is designed to help firms assess whether their services will require authorisation as the country moves from a largely unregulated environment to a defined regime for cryptoasset services. The regulator's proposed scope covers activities such as running crypto trading platforms, issuing stablecoins, safeguarding client assets, and providing staking services. It also includes dealing in, or arranging transactions involving, qualifying cryptoassets. The FCA said the consultation applies to both UK-based and overseas firms serving UK users, as well as banks, advisers and other market participants operating in the sector. Under the proposed implementation plan, crypto firms would be able to apply for authorisation from September 2026, ahead of the regime taking full effect in October 2027. The FCA expects to finalise detailed rules this summer, with further guidance to follow later in the year. The consultation is open for feedback until 3 June 2026. Until the new framework is in place, cryptoassets in the UK remain largely outside direct regulation, aside from rules on financial promotions and anti-money laundering requirements. The FCA's effort to define the regulatory perimeter follows recent legislative changes that expand its remit over key crypto activities, aiming to reduce uncertainty for firms while preparing the market for tighter oversight. The new framework is expected to reshape operating requirements for exchanges, custodians and stablecoin issuers in the UK in the coming years.

April 16 — On-chain analyst Yujin said Tether, the issuer of USDT, transferred 951 BTC (about $704.7 million) out of Bitfinex roughly three hours ago. The bitcoin was bought using 15% of Tether's Q1 profits and is typically withdrawn from Bitfinex a few days after each quarter ends. The receiving address now holds 97,141 BTC (around $7.2 billion), ranking as the fifth-largest bitcoin wallet. Based on the purchase price at the time of withdrawal, the average cost is about $51,312 per BTC, implying roughly $2.175 billion in unrealized gains.

US crude oil exports climbed to a record 5.2 million barrels per day last week.

BNB Chain has carried out its 35th quarterly token burn, permanently removing 1.57 million BNB from circulation. Following the burn, the BNB supply stands at 134.79 million tokens.

Tether Treasury transferred 200,000,000 USDT, valued at 200,015,646 USD, to Bitfinex.

A total of 200,000,000 USDT, worth US$200,015,646, was transferred from Bitfinex to the Tether Treasury.

Goldman Sachs has filed with the U.S. Securities and Exchange Commission (SEC) to launch a new Bitcoin-related exchange-traded fund, adding momentum to Wall Street's push to bring digital assets into mainstream portfolios alongside firms such as Morgan Stanley and BlackRock. The proposed product, to be called the "Goldman Sachs Bitcoin Premium Income ETF," differs from traditional spot Bitcoin ETFs. Built around a premium-income approach, it aims to provide indirect exposure to Bitcoin while seeking monthly cash flow by writing options on Bitcoin-linked exchange-traded products. The strategy collects option premiums, but it can cap a portion of upside when prices rise sharply. Market participants view the filing by the New York-based bank's asset management unit as one of Goldman's first major steps into crypto-focused investment products. The structure adapts a well-established equity-market playbook for the digital-asset market. Options-income ETFs have expanded rapidly since the pandemic era, with the category now exceeding $180 billion in assets. A prominent example is the JPMorgan Equity Premium Income ETF (JEPI), launched in 2020 and now around $45 billion, which helped spur a wave of similar funds. The crypto segment has begun to follow a comparable path. After BlackRock submitted a related filing in January, firms such as Roundhill Financial rolled out products in the same niche. Strategists say these newer ETFs are designed for investors uneasy with volatility. Nate Geraci, president of NovaDius Wealth Management, characterized the approach as a way to ease into Bitcoin exposure, likening it to "Bitcoin on three wheels." The filing also underscores a broader shift in traditional finance's stance on Bitcoin. Long criticized as a "non-income-generating asset," Bitcoin is increasingly being paired with engineered income strategies through derivatives. Goldman Sachs CEO David Solomon said in February that he personally owns Bitcoin, a remark seen by some as another signal of changing sentiment. Under the fund's operating framework, option premiums are intended to smooth returns and partially offset risk during turbulent markets. Analysts caution that the approach may not fully absorb steep drawdowns. With Bitcoin down about 40% from its October peak, risk concerns remain elevated, and premium-income strategies are generally expected to be more stabilizing than protective. Jane Edmondson of TMX VettaFi said Goldman's entry could strengthen the institutional case for digital assets, noting that participation by a firm of Goldman's stature can bolster confidence across professional investors. This is not investment advice.

Ethereum (ETH) has helped power the latest crypto-market upswing, climbing to around $2,400 this week. While sentiment is split, on-chain and derivatives data point to strengthening momentum, with whales accumulating even as smaller traders take profits. Spot Ether ETF inflows have also picked up again. Santiment said retail wallets holding 0.01 ETH or less sold a net 1,791 ETH—about $4.16 million—over the past two days. The move followed a roughly 17% advance in ETH, with some retail participants treating the post-March 29 rally as a potential bull trap. Santiment added that similar retail selling has historically coincided with continued upside, noting markets often move against prevailing retail positioning. Large holders moved the other way. Santiment reported the number of wallets holding at least 100,000 ETH rose to 57 from 54 over the past week, a pattern the firm says has tended to align with periods of Ethereum price strength. ETH has also been outperforming Bitcoin. Santiment said Ethereum reached as high as $2,391, with its relative dominance versus Bitcoin hitting the highest level since late January. Funding-rate data across exchanges is also reflecting a more bullish tilt. Analyst Michael van de Poppe said Ethereum's momentum looks stronger than Bitcoin's, adding that the ETH/BTC pair has been in a bullish trend since April 2025 after bottoming earlier this year. Technically, analyst Ted Pillows said ETH was rejected at the $2,400 resistance level, framing it as a sign of near-term weakness. He identified the next key support area at $2,150 to $2,200; a break below that zone could open the door to $2,000 and potentially lower. At the same time, market analyst Crypto Patel argued Ethereum is trading in a historically undervalued band on the Rainbow Chart, a range it has entered only twice before. Patel noted those prior instances were followed by strong rallies that moved into higher-profit zones in about 18 months, highlighting $1,500 to $2,000 as a critical area that could serve as an accumulation zone. The post Ethereum Price Rally or Bull Trap? Retail Investors Dump 1,791 ETH appeared first on The Market Periodical .

CoinDesk Podcast Network highlights the day's key developments: Kevin Warsh's cryptocurrency portfolio has been made public, the IMF says global debt could climb to 100% of GDP by 2029, and Goldman Sachs has filed for a Bitcoin ($BTC) ETF. Jenn Sanasie breaks down what matters on CoinDesk Daily.