News Block: SEC Has Considered ETH a Security Since 2023, Biden to Veto Pro-Bitcoin Bill, Druckenmiller Gives Bidenomics an 'F', Bitcoin Mining Cuts Methane
Podcast discusses SEC classifying Ethereum as a security, Biden vetoing pro-Bitcoin bill, Druckenmiller giving Bidenomics an 'F', Trump supporting crypto, Bitcoin mining reducing methane emissions
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Quick takeaways
SEC has considered Ethereum a security since 2023, sparking legal disputes with Consensys.
Biden to veto legislation overturning SAB 121, signaling political opposition to Bitcoin custody by large banks.
Deep dives
Ethereum ETF Uncertainty: SEC's Changing Position
Following the approvals of spot Bitcoin ETFs, there has been speculation about Ethereum ETFs. Recent reports suggest that issuers anticipate the SEC denying ETH ETF applications. Veneck's ETH ETF faces a decision deadline on May 23rd, with experts estimating a 35% approval chance. Court filings reveal SEC's classification of ETH as a security, sparking a legal battle with Consensus disputing this classification.
Biden's Stance Against Bitcoin Custody: Vetoing Legislation
The House voted to overturn SAB 121, impacting large banks' ability to custody digital assets. Biden plans to veto this legislation citing financial instability concerns. Former President Trump's comments highlight Biden's opposition to Bitcoin. This regulatory move reinforces the divide in political approaches towards cryptocurrencies.
Modern Monetary Theory and Government Spending: Inflation Concerns
The government's high spending levels, influenced by MMT proponents, raise concerns about inflation and economic consequences. Billionaire Stanley Druckenmiller criticizes economic policies, highlighting inflation's impact. Harvard survey shows young adults view inflation as a pressing concern, with awareness growing about the effects of money printing and government spending.
In this week's episode of the Coin Stories News Block powered by Bitdeer (NASDAQ: BTDR), we cover these major headlines related to Bitcoin and global finance:
Court Documents Reveal SEC Has Considered Ethereum a Security Since 2023
Biden Plans to Veto Pro-Bitcoin Legislation Just Voted on By House
Legendary Investor Stanley Druckenmiller Gives Bidenomics an “F”
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