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The Department of the Treasury's Office of Foreign Assets Control (OFAC) has introduced a final rule that changes some parts of the Code of Federal Regulations. This rule updates the way payments for legal services, originating from outside the United States, are handled. OFAC is now requiring recordkeeping instead of reporting requirements and has revised general licenses, so payments for certain legal services can be made from external funds. This rule is effective from December 19, 2024, and applies starting March 12, 2025.

The Securities and Exchange Commission (SEC) has been notified that Nasdaq ISE, LLC has filed a proposal to allow options trading for various Bitcoin-related exchange-traded funds (ETFs) on their exchange. The proposed rule aims to include Bitcoin-backed commodity ETFs, such as the Fidelity Wise Origin Bitcoin Fund and the ARK21Shares Bitcoin ETF, among others, as appropriate for options trading. The rule sets specific conditions and standards that these ETFs must meet to be eligible for options trading, ensuring they are widely held and actively traded. The SEC is seeking public comments on this proposal and has also considered waiving the 30-day operative delay to allow the rule to take effect immediately after filing.

The Food and Drug Administration (FDA) is asking for public comments on gathering information related to food additives for animal food. Under the Paperwork Reduction Act, federal agencies must allow 60 days for public comments on such collections. The FDA is revising its information collection efforts to include new guidance related to the safety of pet food under recent amendments. They also explain the estimated time and effort it takes for companies to submit necessary documentation and consult with the FDA on animal food additives.

The Securities and Exchange Commission (SEC) is reviewing a proposed rule change by the Cboe Exchange to introduce new options based on the Cboe Bitcoin U.S. ETF Index and the Mini-Cboe Bitcoin U.S. ETF Index. These options would settle at the end of the day and have various expiration frequencies, including daily, weekly, and monthly. The proposed rule change aims to give investors more options for hedging their bets and managing risk by providing more flexibility with the timing of their trades. The SEC is inviting public comments on this proposal to ensure it aligns with the regulations and benefits the investment community.