US approves spot Ethereum ETFs!

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Big news for crypto: US approves spot Ethereum ETFs!

The US Securities and Exchange Commission (SEC) has given the green light to launch spot Ethereum ETFs, according to a document on their website. This move signals a potential shift in the US government's approach to cryptocurrency.

The SEC document states their approval is based on the ETF proposals complying with relevant regulations.

This news comes alongside the recent passage of the FIT21 crypto bill. Together, these developments suggest a more crypto-friendly stance from the Biden Administration, following a similar pro-crypto approach from the Trump administration.

Congress Throws Cold Water on Central Bank Digital Currency (CBDC)

The House of Representatives has passed a bill effectively blocking the Federal Reserve from launching a central bank digital currency (CBDC), according to the Washington Examiner. The CBDC Anti-Surveillance State Act was passed with a vote of 216-192.

Why the Block?

The bill, championed by House Majority Whip Tom Emmer (R-MN), aims to protect financial privacy and prevent government overreach. It specifically prohibits the Fed from issuing a CBDC directly or indirectly to individuals. Lawmakers are concerned about the potential for the government to collect vast amounts of personal financial data through a CBDC.

Beyond Issuance:

The legislation goes further, restricting the Fed from using a CBDC to conduct monetary policy – a key function of the central bank.

The Fed's Stance:

The Federal Reserve has previously explored the concept of a CBDC, even conducting a trial with major banks and soliciting public input. However, this congressional move throws a wrench into those plans.

Bitcoin Pizza Day: Celebrating a Slice of History (and Future?)

On May 22nd, Bitcoin Pizza Day was celebrated – a day that commemorates the first real-world purchase using Bitcoin! Back in 2010, Laszlo Hanyecz made history by paying 10,000 BTC for two large Papa John's pizzas.

While the price of those pizzas may seem outrageous today (worth nearly $700 million at current prices!), this transaction marked a pivotal moment. It demonstrated the potential of Bitcoin as a viable currency beyond the digital realm.

A Look Back, and a Look Ahead

Fast forward to today, and Bitcoin continues to evolve. Its value has fluctuated significantly, but it remains a prominent player in the cryptocurrency landscape.

Bitcoin Pizza Day serves as a reminder of both the innovation and volatility associated with cryptocurrency. It's a chance to reflect on the early days of Bitcoin and ponder its future.

Will Bitcoin become a mainstream form of payment? Only time will tell. But one thing's for sure: Bitcoin Pizza Day reminds us of the ever-changing world of finance and technology.

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