Welcome to your daily crypto news digest. Here's what's making waves in the blockchain world today.
Bitcoin (BTC) has once again showcased its resilience by outperforming both Gold and the S&P 500 in April 2025, despite facing a dip earlier in the month. This performance highlights Bitcoin's ability to recover strongly and maintain its position as a leading asset in the financial market.
Interestingly, Bitcoin continues to closely mirror the movements of the S&P 500. However, it does so with a higher alpha, meaning it offers greater potential upside during periods of market rebounds. This characteristic further cements Bitcoin's appeal to investors seeking higher returns in volatile market conditions.
As the cryptocurrency market evolves, Bitcoin's ability to outperform traditional assets reinforces its status as a viable investment option for both institutional and retail investors.
The U.S. Commodity Futures Trading Commission (CFTC) has officially withdrawn its appeal against the crypto-based prediction platform Kalshi. This decision effectively concludes the regulatory body’s challenge to the platform’s election-related betting markets.
Earlier, a federal judge had ruled that the CFTC had overstepped its authority in its attempt to restrict Kalshi's operations. The court's decision marked an important precedent for the ongoing debate around the legality and regulation of crypto-powered prediction markets, particularly those focused on election outcomes.
Following the CFTC's withdrawal, both Kalshi and CFTC Commissioner Summer Mersinger have confirmed that election markets on the platform will remain operational. Commissioner Mersinger commented, “Election markets will continue to exist,” signaling a potential shift in how such markets might be regulated and perceived in the future.
This development underscores the growing importance of decentralized platforms and their ability to navigate complex regulatory challenges.
Ripple has announced that it will no longer publish its quarterly XRP market reports. The decision comes after the company observed that its voluntary transparency efforts were leveraged against it by the U.S. Securities and Exchange Commission (SEC) in ongoing enforcement actions.
Ripple stated that the reports, which aimed to provide clarity and transparency around XRP market operations, "did not achieve the expected results." The company pointed out that the disclosures have been used against it in regulatory disputes, particularly in its high-profile legal battle with the SEC over whether XRP is considered a security.
Moving forward, Ripple plans to transition its disclosures to updates shared through its official website and social media channels. However, details about the new format for these updates have not yet been disclosed.
This move marks a significant shift in how Ripple communicates financial and operational information to the public, reflecting a more cautious approach amidst regulatory scrutiny.
In a bold legislative move, U.S. Senator Chris Murphy has introduced the MEME Act, a proposed bill that seeks to prohibit the President and members of Congress from issuing or endorsing memecoins. The announcement comes amid growing concerns over the intersection of cryptocurrency and political ethics.
Senator Murphy specifically mentioned Trump Coin, labeling it as “the biggest corruption scandal in the history of the White House.” The bill aims to curb potential misuse of cryptocurrencies by public officials and to ensure transparency and accountability in their financial dealings.
The MEME Act highlights a broader push to regulate the rapidly evolving cryptocurrency space, particularly as digital assets like memecoins continue to gain popularity and influence.
Details of the proposed legislation are still emerging, but the bill underscores the urgency lawmakers feel in addressing the ethical implications of cryptocurrencies within the political sphere.
This story is developing, and further updates are expected as the bill progresses through Congress.
Source: Original Article
South Korea’s leading presidential candidate, Lee Jae-myung, has announced plans to approve spot cryptocurrency exchange-traded funds (ETFs) as part of his campaign to bolster the country’s crypto investment landscape. Lee also pledged to implement robust monitoring systems aimed at ensuring safer conditions for investors.
The initiative has garnered support from the country’s financial regulator. Officials indicated their willingness to collaborate with the incoming administration to facilitate these measures following the June 3 election. If implemented, this could mark a significant step forward for cryptocurrency adoption and regulation in South Korea.
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