Today in crypto, Thailand's SEC is reviewing the potential approval of spot Bitcoin ETFs while cracking down on Polymarket for alleged illegal gambling. The SEC aims to assess if both retail and institutional investors can engage in spot Bitcoin ETF trading within the country, reflecting a need to adapt to global cryptocurrency adoption. Simultaneously, the SEC is considering allowing firms with good credit ratings to issue stablecoins backed by corporate bonds. In the US, Representative Tom Emmer has been appointed vice chair of the House Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence. Emmer stated that there is an opportunity to shape the future of digital assets aligned with American values. Outgoing SEC Chair Gary Gensler commented on the upcoming presidential election, stating that while crypto interest groups raised money, they likely did not sway the election, emphasizing that the crypto field has struggled with compliance issues.

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