Trump Administration Supports Crypto, Establishes Bitcoin Reserve

PANews reported on November 6th that, according to SoSoValue data, the US-based Solana spot ETF saw a net inflow of $9.7 million on November 5th, marking its seventh consecutive day of inflows. Specifically, Bitwise BSOL saw a net inflow of $7.46 million, and Grayscale GSOL saw a net inflow of $2.24 million. Currently, the Solana spot ETF has a total net asset value of $531 million, with a cumulative net inflow of $294 million, representing 0.59% of the total market capitalization of SOL. Additionally, the Hedera spot ETF saw a net inflow of $1.92 million, while the Litecoin ETF saw no new inflows.

The post Lawmakers Plan Crucial Meeting on Crypto Market Structure Bill appeared on BitcoinEthereumNews.com. Senator John Boozman is set to meet White House crypto advisor David Sacks and Senator Cory Booker to finalize a draft. While there is still some optimism among sponsors like Senator Cynthia Lummis, the legislative timeline is increasingly uncertain due to the political gridlock. At the same time, the UK is moving to align its stablecoin regulations with the US, with Bank of England Deputy Governor Sarah Breeden confirming plans to release a consultation paper on Nov. 10. Crypto Bill Back in Focus? Discussions over the long-awaited US digital asset market structure bill are continuing despite the ongoing government shutdown—which is the longest in the country’s history. The legislation is widely seen as one of the most consequential efforts to define the regulatory framework for cryptocurrencies, but it is still in limbo as lawmakers juggle competing priorities and political tensions. According to a report from Politico, Senator John Boozman, a Republican member of the Senate Agriculture Committee, is expected to hold talks with White House crypto and AI advisor David Sacks and Democratic Senator Cory Booker to help finalize a discussion draft of the bill. The Agriculture Committee, along with the Senate Banking Committee, plays a key role in shaping the legislation before it can move to a full Senate vote. Report from Politico The bill originally passed by the House of Representatives in July, and was expected to pass the Senate with bipartisan support. However, progress slowed due to disagreements over how decentralized finance (DeFi) protocols should be regulated, coupled with the disruption caused by the government shutdown.  Many lawmakers shifted their focus to reopening the government and restoring operations at key financial regulators, including the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), both of which have been forced to scale back activity due…