Crypto News Key Highlights:
BTC price traded in a tight range briefly. A minor dip and rally coincided with news of tech investor Cathie Wood's ARK Invest seeking a US #Ethereum ETF spot.
The upcoming #G20 Leaders Summit in New Delhi will focus on cryptocurrency regulation. Simultaneously, the Financial Stability Board and the International Monetary Fund will release a collaborative paper outlining a detailed roadmap for nations to regulate crypto assets.
Ripple Labs, a crypto company, is teaming up with Japan's prominent financial services giant, SBI Group's remittance branch, SBI Remit. Their partnership aims to facilitate international remittances to the Philippines, Vietnam, and Indonesia using the digital currency XRP, as per a recent press release.
#Ripple Labs' Chair, Chris Larsen, criticized the U.S. crypto policy under the Biden administration, suggesting the legal system is now rectifying it. He emphasized the need for Congress to lead crypto policy after recent legal developments, including Grayscale's court victory. Larsen accused the SEC of regulatory ambiguity and overreach.
JPMorgan predicts the SEC will approve several spot Bitcoin ETFs simultaneously rather than granting an exclusive first-mover advantage. The bank suggests that to maintain its rejection of Grayscale's Bitcoin ETF conversion, the SEC would need to retract prior approvals of Bitcoin futures ETFs, which could be highly disruptive and embarrassing for the regulatory body.
In an unexpected twist, Ripple, the firm behind XRP, has partnered with Jared Isaacman, known as #Elon Musk's SpaceX associate. The billionaire, also the founder of Shift 4 payments, journeyed to Earth's orbit aboard SpaceX's Crew Dragon capsule in 2021. Ripple recently confirmed their collaboration on a donation project with Isaacman.
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