-- Ether grabbed the cryptocurrency spotlight after posting its biggest jump in more than a month, a surge pegged to speculation about the outlook for applications to start US exchange-traded funds for the token.The second-largest digital asset traded at about $3,710 as of 11:20 a.m. on Tuesday in Singapore, maintaining an 8.5% advance from US hours. Ether’s 62% year-to-date gain is closing in on market-leader Bitcoin’s 68% increase.
While Bitcoin is acknowledged to be a commodity, the SEC argues most other tokens are effectively unregistered securities and thus claims that the digital-asset sector is rife with non-compliance. Explicit identification of Ether as an unregistered security would add a slew of challenges to rolling out an ETF.
The dollar was tentative on Tuesday as it failed to get a meaningful boost from a rise in U.S. Treasury yields, though that kept pressure on the yen which languished near multi-decade lows and left traders on alert for any signs of intervention. Finance Minister Shunichi Suzuki said on Tuesday authorities won't rule out any options in dealing with excessive yen moves, repeating his warning that Tokyo is ready to act against the currency's recent sharp declines.
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