FameEX Morning Crypto News Recap | February 21, 2025
2025-02-21 12:25:00Bipartisan Backing Emerges for US Stablecoin Regulation Bill
US Senator Bill Hagerty’s proposed stablecoin regulatory framework bill is reportedly gaining bipartisan support, as noted by FOX Business reporter Eleanor Terrett in a recent post on the X platform.
U.S. SEC Forms Cyber and Emerging Technologies Unit to Protect Retail Investors
On February 20, the U.S. SEC established a new division for cyber and emerging technologies, dedicated to safeguarding retail investors.
Elon Musk's xAI Grok Surpasses ChatGPT
Elon Musk’s xAI Grok app has surpassed ChatGPT to become the number-one free app on the US App Store.
US SEC Withdraws Appeal Challenging DeFi Users
The U.S. Securities and Exchange Commission withdrew its appeal of a Texas judge’s decision rejecting its expanded “dealer” definition for DeFi participants. The court previously ruled the SEC exceeded its authority and deemed the amendment unlawful.
Bitcoin ETF Demand Slows, Still Net Positive
CryptoQuant CEO Ki Young Ju observed that Bitcoin ETF demand has slowed but stays positive. He stated that the bull market will continue until substantial ETF outflows materialize, emphasizing that demand and supply dominate market trends, while other factors are mere distractions.
Fed Vice Chair Responds to Claims of Crypto Industry’s Banking Exclusion
Michael Barr, U.S. Federal Reserve Vice Chairman, dismissed claims that the crypto industry is being excluded from banking. He stressed the Federal Reserve’s neutrality and its commitment to providing a framework enabling responsible cryptocurrency-related banking activities.
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