The SEC has informed exchanges that it is “leaning toward approving” spot Ethereum ETFs, according to Barron’s. This significant move could open new investment opportunities in the cryptocurrency market.

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The Financial Innovation and Technology for the 21st Century Act, or FIT21, is set for a vote in the U.S. House of Representatives by month’s end, intending to set a clearer regulatory landscape for digital assets. The act has guidelines to create a framework for the right way to manage cryptocurrencies, prescribes the formulation of roles for SEC and CFTC jurisdictions, and in the end, perhaps stabilizes the sector by drawing a difference between securities and commodities based on decentralization levels of blockchains.

Key bipartisan support in both House committees on Financial Services and Agriculture is a strong messaging toward the bill, irrespective of the substantial pushback from stakeholders in the industry, reportedly commenting on stringent decentralization criteria and regulatory overlaps. FIT21 also calls on protective measures for customers of cryptocurrency exchanges, including whatever would make their funds mandatorily separated and further transparency requirements.

The move is also seen as a response to increasing SEC aggressiveness with regulation, characterized by recent, high-profile lawsuits against Coinbase and Binance. The FIT21 Act has been hailed by industry advocates as the first vital baby step in mitigating regulatory confusion and fostering innovation in the U.S. digital asset space.

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Bitcoin Pizza Day, celebrated annually on May 22nd, commemorates the first recorded purchase made using Bitcoin—two pizzas bought for 10,000 BTC. Over the years, the price of Bitcoin on this day has experienced dramatic fluctuations, reflecting the cryptocurrency’s volatile journey. In 2016, Bitcoin was priced at $442, a humble beginning compared to its future highs. By 2017, the price had surged to $2,000, and in 2018, it skyrocketed to $8,400. The following year, 2019, saw a slight dip to $7,900, but in 2020, Bitcoin’s value rose again to $9,900.

The most significant leap occurred in 2021 when Bitcoin hit $39,000, showcasing its rapid growth and increasing acceptance. In 2022, the price was $30,000, and by 2023, it settled at $26,000. These figures underscore Bitcoin’s incredible growth and volatility over the years, turning a once quirky transaction into a milestone event in the cryptocurrency’s history. As Bitcoin Pizza Day 2024 approaches, enthusiasts and investors alike are keen to see what the price will be, reflecting on the cryptocurrency’s transformative journey.

isclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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The Paraguayan government has proposed a new bill aimed at addressing the rampant theft of electricity by unauthorized bitcoin miners.

On May 17, presidential spokesperson Paula Carro announced the government’s plan, which includes severe penalties and measures to confiscate mining equipment. 

The illegal mining activities allegedly “threaten” the financial stability of the National Electricity Administration (ANDE). Carro said that the government has “urgently” sent the bill to parliament to protect its electrical infrastructure and ensure fair competition within the energy sector. 

The proposed bill aims to amend Article 173 of the Penal Code to include…

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Standard Chartered is forecasting the imminent approval of Ether ETFs by the U.S. Securities and Exchange Commission (SEC), with upcoming deadlines for proposals from VanEck and Ark Invest/21Shares. Geoff Kendrick, the bank’s head, expresses an 80-90% confidence in a favorable decision expected this week. This anticipated approval could lead to a significant market influx, with estimates ranging from $15 billion to $45 billion, potentially boosting Ether’s price to $8,000 by the end of the year.

The optimism surrounding the SEC’s decision has already led to a 19% increase in Ether’s price, currently sitting at $3,719. Analysts now suggest a 75% likelihood of ETF approval, projecting that Ether could reach $8,000 by the end of this year and possibly $14,000 by the end of 2025, paralleling Bitcoin’s market performance.

If approved, these ETFs would bring substantial capital into Ether, enhancing its position as a mainstream financial asset and following the successful precedent set by Bitcoin ETFs. This development underscores the growing integration of cryptocurrencies into traditional financial markets.

The Block

Editor’s note: Cashu is a protocol, not a company.

Founders: Calle

Date Founded: October 2022

Location of Headquarters: Remote

Amount of Bitcoin Held in Treasury: N/A

Number of Employees: 20-30 open-source developers

Website: https://cashu.space/

Public or Private? N/A

Of Bitcoin’s many notable properties, privacy isn’t one of them.

In fact, the transparency of the Bitcoin blockchain contrasts starkly with the privacy that Chaumian ecash, a form of digital cash created by legendary cryptographer Dr. David Chaum in 1982, offers.

So, what do these two technologies have to do with one another?

Well, 40 years after the invention of ecash and after a failed attempt to integrate it into the…

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