Coin Stories News Block: SEC Approves Spot ETH ETFs, Bitcoin Now a Presidential Campaign Issue, Crypto Regulatory Bill FIT21 Passes, House Bans Fed CBDC
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May 24, 2024 Topics covered include SEC approving spot ETH ETFs, Bitcoin entering presidential campaigns, passing of crypto regulatory bill FIT21, House banning Fed from issuing CBDC. Discussions on political shifts, lobby influence, Biden and Trump's stance on crypto, and implications of regulatory bills on cryptocurrency industry.
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SEC’s Ethereum ETF Approval
- The SEC unexpectedly approved multiple spot Ethereum ETFs after signaling denial.
- This surprising reversal likely stems from political pressure and the upcoming presidential election.
Crypto as a Campaign Issue
- Crypto has become a key campaign issue, with Biden previously hostile and Trump now embracing it.
- Democrats may be softening their stance due to Trump's crypto support and the growing crypto voter base.
Custodia Bank Incident
- Custodia Bank CEO Caitlin Long testified that the White House orchestrated a hit on the digital asset industry.
- This included the denial of Custodia's Fed Master account, allegedly for political reasons.