Weekly Crypto Digest for May 20-May 26, 2024
Sunday, May 26, 2024
In the latest issue of Weekly Crypto Digest, read more about how SEC approved Ethereum ETF, Dogecoin Dog Died, the US approved crypto bill FIT21, and more news.
SEC Approves Spot Ethereum ETFs
On May 23, 2024, the U.S. Securities and Exchange Commission officially approved spot Ethereum ETFs. The regulator has approved Forms 19b-4 filed by issuers seeking to launch spot Ethereum ETFs. Among such issuers are BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy, and Franklin Templeton.
The complete list of applications for registration of ETH exchange-traded funds was published by Bloomberg Intelligence analyst James Seyffarth.
The Dogecoin Dog Has Passed Away
On May 24, 2024, Kabosu, the dog who symbolizes the Dogecoin (DOGE) token, passed away. She lived for 18 years and almost seven months. The animal had been diagnosed with leukemia in December 2022. At the start of May, it was reported that Kabosu was in serious condition and could no longer walk independently, relying on an animal wheelchair for movement.
Donald Trump Accepts Donations in Cryptocurrency
Republican candidate for the 2024 U.S. presidential election, Donald Trump, has promised to create a "crypto army" and announced he will accept donations in cryptocurrency. During his campaign event on Tuesday, Trump announced his support for cryptocurrency while criticizing President Joe Biden's supposed "socialist government control" of digital assets.
U.S. House of Representatives approves FIT21
The U.S. House of Representatives has approved the Financial Innovation and Technology for the 21st Century Act (FIT21 or HR 4763).
Voting took place on May 22, 2024. 279 legislators were in favor, and 136 were against. The bill received broad bipartisan support despite Joe Biden's remarks representing the Democrats.
FIT21 aims to establish the regulatory framework for the sector and introduce a mechanism for determining crypto assets based on several factors, including the degree of decentralization.
MetaMask is working on Bitcoin Integration
MetaMask developer Consensys plans to add support for the Bitcoin network to the crypto wallet. CoinDesk reports this.
According to reports, access to the Bitcoin blockchain may appear within the next month, in June 2024. The set of functions will likely be limited, but the list of capabilities will be expanded over time.
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