Monday's news that the U.S. Securities and Exchange Commission (SEC) may be gearing up to approve spot ether exchange-traded funds (ETFs) would be a major reversal in fortune for an asset class assumed to be dead-on-arrival.
The odds of an SEC approval of spot ETH ETFs have increased from 25% to 75%, indicating a significant likelihood that institutional capital will flow into the second-largest crypto asset.
The Deploying American Blockchains Act of 2023 passed by House representatives and the upcoming Senate vote on the Financial Innovation and Technology for the 21st Century Act signify a positive shift in the US government's approach to blockchain industry competitiveness.
#biden-administration #crypto-regulations #sec-approval #blockchain-industry-competitiveness #legislation-impact
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