Today in crypto: JPMorgan has launched its first money market fund through its $4 trillion asset management arm, the United Kingdom will reportedly look to extend finance laws to crypto in 2027, and Willy Woo says Bitcoin OGs will buy up Satoshi’s 1 million Bitcoin if a quantum attack happens.
JPMorgan launches its first tokenized money market fund on Ethereum
JPMorgan, one of the world’s biggest banks, is advancing its presence in tokenized finance by launching its first money market fund through its $4 trillion asset management arm.
The fund, My OnChain Net Yield Fund, will trade under the ticker MONY and is available on the public Ethereum blockchain, JPMorgan said in an announcement shared with Cointelegraph on Monday.
Launched via Kinexys Digital Assets, JPMorgan’s proprietary tokenization platform, MONY is a 506(c) private placement fund providing qualified investors the opportunity to earn US dollar yields by subscribing through its institutional trading platform, Morgan Money.
“With Morgan Money, tokenization can fundamentally change the speed and efficiency of transactions, adding new capabilities to traditional products,” said John Donohue, head of global liquidity at J.P. Morgan Asset Management.
By launching MONY, JPMorgan has become the largest global systemically important bank to introduce a tokenized money market fund (MMF) on a public blockchain, the bank said in the announcement.
The fund’s tokenization provides increased transparency, peer-to-peer transferability and the potential for broader collateral usage within the blockchain ecosystem, it said.
“This marks a significant step forward in how assets will be traded in the future,” Donohue said, highlighting the role of Morgan Money, where qualified investors can access the fund and receive tokens at their blockchain addresses.
UK seeks to extend finance laws to crypto from 2027: Reports
The UK government will introduce legislation on Monday that will bring crypto companies under existing finance laws by October 2027 under the oversight of the Financial Conduct Authority (FCA), the finance ministry has told local media.
The Treasury proposed draft crypto legislation in April, which has seen only minor changes. It would subject crypto to the same laws and consumer protections as traditional finance products.
“Bringing crypto into the regulatory perimeter is a crucial step in securing the UK’s position as a world-leading financial center in the digital age,” said the head of the Treasury, Rachel Reeves.
Reeves added that the bill gives “clear rules of the road” and strong consumer protections while locking “dodgy actors out of the UK market.” Meanwhile, economic secretary Lucy Rigby said the UK’s intention “is to lead the world in digital asset adoption.”
Will Woo says Bitcoin OGs would buy Satoshi Nakamoto’s coins if they flood the market
Willy Woo, a long-term Bitcoin (BTC) holder, said that Bitcoin OG’s would buy Satoshi Nakamoto’s 1 million BTC if a sufficiently powerful quantum computer emerges, hacks those wallets, and then dumps all those coins onto the market.
This would keep the price afloat because “Many OGs would be in to buy the flash crash,” Woo said, but clarified that the 4 million total coins stuck in old, vulnerable wallet address types hitting the market at once could cause a multi-year bear market. Woo added:
“[The] BTC network would survive; most coins are not immediately vulnerable. However, 4 million coins in P2PK addresses, including Satoshi’s, have their public keys in the open and are vulnerable.”
The crypto community continues to debate the effects of a quantum computer breaking modern cryptography and encryption standards, with many analysts and crypto industry executives advocating for migration to quantum-resistant addresses before a sufficiently powerful quantum computer is developed.