Tornado Cash Developer Alexey Pertsev Appeals Guilty Verdict; CME's Plan for Spot Bitcoin Trading

A tornado cash developer appeals his guilty verdict and CME plans to offer spot Bitcoin trading. You're watching Coin Desk daily. I'm your host, Jen Sani Tornado Cash developer, Alexei Persa filed an appeal with the Dutch court after being found guilty of money laundering earlier this week, the court was not able to say if the appeal was approved and it could take months before the first hearing takes place. Perso who was sentenced to 64 months in prison has the opportunity to ask to await the appeal trial at home. The Chicago Mercantile Exchange is planning to offer spot Bitcoin trading to its clients amid increasing demand for the product. That's according to a report from the financial Times. CME is already the top Bitcoin futures exchange by open interest, but a spot trading business could help the exchange become even more dominant in the crypto market. Ted X Research founder, Marcus Teen said exchanges might lose some business with the potential debut of a Bitcoin spot market on the CME because institutional players who are driving the current bull run will prefer to trade on regulated platforms and the house is setting to vote on a wide ranging bill to set crypto regulation next week. Rep Patrick mchenry, the chairman of the House Financial Services Committee and a leading advocate for crypto legislation said the results will strongly influence the odds that the US Senate gets on board. Mchenry is set to retire at the end of this year and has made digital assets legislation one of his top priorities. He suggested that it will be important to watch if Democrats show up to support the bill. That's it for coin desk daily. Get more updates on coindesk.com and we'll see you next time.