Crypto News

Spot Bitcoin ETFs in the US recorded their largest outflow since 25 June (over $450 million) following the failure of the CLARITY Act to pass a vote in the US Senate.

Following the failure of the vote on the CLARITY Act, the main responsibility for regulating the crypto market will pass to the US Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC), according to Bernstein. They also expect accelerated development of regulations for native tokens, DeFi and tokenised shares.

The aggregate mining output of public Bitcoin miners fell below the break-even point in the second quarter, according to CoinShares. Bitcoin ended the quarter at $58.4K, while the average cost of mining 1 BTC stood…