Bitcoin, the world's largest cryptocurrency by market value, has dropped 4% over the last 24 hours to less than $64,000. Ether also saw a significant downside, losing 6%, and the CoinDesk 20 Index, a measure of the broader crypto market, lost 6% as well. Reuters reported that U.S. issuers expect the Securities and Exchange Commission to deny their applications to launch spot ether exchange-traded funds (ETFs) after discouraging meetings with the agency in recent weeks.
U.S. House Representative Maxine Waters (D-California) indicated that the final version of a stablecoin bill could be ready soon. 'We are on our way to getting a stablecoin bill in the short run,' the top Democrat on the House Financial Services Committee told Bloomberg on Wednesday.
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