Here are the most important #crypto news highlights of today:
1. **MiCA Regulation Concerns:** Paolo Ardoino, CTO at Tether, has expressed concerns about the Markets in Crypto-Assets (MiCA) Regulation and its potential impact on stablecoins. The regulation aims to provide a comprehensive framework for crypto assets in the EU, but there are worries about its implications for stablecoin operations.
2. **#ETH ETFs Approval Delay:** Gary Gensler, Chairman of the SEC, has indicated that the next step in the approval process for Ethereum-based ETFs (ETH ETFs) will take some time. This suggests that regulatory scrutiny and deliberations are ongoing.
3. **Centralized Exchange Volume Decline:** The total trading volume on centralized exchanges fell by $5.2 billion in May. This decline could be attributed to various factors, including market sentiment, regulatory changes, or shifts in trading activity to decentralized platforms.
4. **Bank of Canada Rate Cut:** The Bank of Canada has announced a rate cut of 25 basis points, lowering the interest rate to 4.75%. This monetary policy decision could have implications for the broader financial markets, including the crypto sector.
5. **BSV Exclusion Hearings:** The London Competition Appeal Tribunal has begun hearings on the exclusion of #Bitcoin SV (BSV) from exchanges. The outcome of these hearings could impact the availability and trading of BSV on major platforms.
6. **Tether's Investment in XREX Group:** Tether has announced a strategic investment of $18.75 million in the XREX Group. This investment is likely aimed at expanding Tether's influence and capabilities within the crypto and fintech sectors.
