Spot Bitcoin ETFs Could Be Approved By 2023, Says Bloomberg – March 24

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $43,947

Bitcoin price is knocking on the door of the $44,000 level to begin Thursday, as it continues to inch upwards in a show of strength.

Top-20 altcoins also continue to perform well, as Ethereum gains 3%, BNB rises 1% and Dogecoin leads with a 9% surge.

Top Stories for March 24, 2022 πŸ”₯

πŸ‘‰ Spot Bitcoin ETFs Could Be Approved By 2023, Says Bloomberg

Bloomberg Intelligence believes that spot Bitcoin exchange-traded funds (ETFs) could begin to be approved by next year, thanks to a possible rule change.

The proposed rule change by the US Securities and Exchange Commission (SEC) would expand the definition of “exchanges”, potentially bringing crypto platforms under SEC regulation.

According to Bloomberg Intelligence analysts James Seyffart and Eric Balchunas, this rule change would eliminate the SEC’s primary reason for denying spot Bitcoin ETFs.

πŸ‘‰ Stargate Bridge Secures $2B Liquidity In Just 1 Week

Stargate, a multi-chain bridge based on LayerZero, has attracted more than $2 billion in liquidity within just a week of launching.

The bridge enables users to transfer assets between different blockchains that are supported by LayerZero. Stargate recently raised $25 million in an auction of its native STG token, selling 100 million STG and using the proceeds to bootstrap liquidity.

πŸ‘‰ Major Australian Bank ANZ Mints First AUD Stablecoin

ANZ, a major Australian bank, has minted the first stablecoin pegged to the Australian dollar. “A$DC” will be rolled out for institutional clients at first, as a “cost-effective on-ramp for crypto investments”.

The bank is working alongside local regulators including Australian Transaction Reports and Analysis Centre and the Australian Prudential Regulation Authority to ensure the token is fully compliant with laws.