FameEX Morning Crypto News Recap | February 21, 2025
2025-02-21 05:34:10Bipartisan Support Grows for US Stablecoin Regulation Bill
A stablecoin regulatory framework bill proposed by US Republican Senator Bill Hagerty has gained growing bipartisan support, according to a post on the X platform by FOX Business reporter Eleanor Terrett.
U.S. SEC Launches Cyber and Emerging Technologies Division to Safeguard Retail Investors
On February 20, the U.S. SEC introduced a cyber and emerging technologies division, focusing on retail investor protection.
Elon Musk’s xAI Grok App Overtakes ChatGPT
Elon Musk’s xAI Grok app reached the top of the US App Store’s free rankings, overtaking ChatGPT.
US SEC Withdraws Appeal of Ruling Against DeFi Users
The SEC has dropped its appeal against a Texas judge’s ruling that blocked efforts to redefine DeFi participants as “dealers” under securities laws. The judge previously deemed the SEC’s actions overreaching and the amendment illegal.
Bitcoin ETF Demand Eases But Stays Net Positive
CryptoQuant CEO Ki Young Ju highlighted that Bitcoin ETF demand has slowed yet remains positive. The ongoing bull cycle will persist until significant ETF outflows occur. Ju stressed the importance of demand and supply as the primary market drivers, dismissing other factors as noise.
Fed Vice Chair Addresses Allegations of Crypto Industry’s Banking Exclusion
Michael Barr, U.S. Federal Reserve Vice Chairman, rejected allegations of crypto industry exclusion from banking, emphasizing a neutral stance. He assured that the central bank supports a clear framework for financial institutions to engage responsibly in cryptocurrency-related activities.
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