China News Daily Official TheBitTimes.com

The crypto industry may be on the verge of another change with potentially wide-reaching consequences by the end of 2025 and beyond. Namely, the U.S. Securities and Exchange Commission (SEC) is preparing to make its final decisions on no less than 16 cryptocurrency exchange-traded funds (ETFs) in October. These proposed applications span a range of major altcoins, including Solana (SOL), Dogecoin (DOGE), and Cardano (ADA).  The first decision deadline is October 2 for Canary’s Litecoin (LTE) ETF, followed by Grayscale’s Solana and Litecoin trust conversions on October 10, and finally WisdomTree’s XRP fund on October 24.  However, the approvals could come at any time before these deadlines, as noted by NovaDius Wealth Management president Nate Geraci, who expects “enormous next few weeks for spot crypto ETFs.” *Enormous* next few weeks for spot crypto ETFs… SEC final deadlines approaching on numerous filings. Starts this week w/ deadline on Canary spo...

Traditional banking lobbying groups are reportedly lining up against crypto ahead of upcoming digital asset legislative actions in Washington, DC. Representatives of smaller banks are concerned about the impact of stablecoins on their business, Politico reports. Christopher Williston, president and CEO of the Independent Bankers Association of Texas, tells the news outlet that it “feels like there’s a move to replace us” amid concerns that small bank customers could move their money into digital asset products. Williston argues that the GENIUS Act, signed into law last month by President Donald Trump, is “a fundamental threat to bank deposits” for community banks. The new legislation establishes a regulatory framework for stablecoins, requiring each token to be fully backed by liquid assets such as cash or short-term US Treasuries. Multiple banking trade associations also recently penned a letter to lawmakers asking them to consider repealing a secti...