The State of the Market: The broader cryptocurrency market staged a comeback Saturday morning, bolstering its market capitalization by $26 billion over the span of just a few hours. Bitcoin (BTC) and Ethereum (ETH) led the corrective rally with gains of over 10%. The market surge on Saturday was followed by a “Stable Sunday,” during which most of the top coins retained their gains. In the last 24 hours, BTC has had one of the flattest trends in recent memory — decreasing by a meager 0.03% on the day. ETH has also retained yesterday’s bounce and has risen just under 1% over the last 24 hours to settle in at around $450.

1) This weekend, VeChain (VEN) formally launched its VeChain Thor blockchain after the inaugural block was successfully mined. Following the launch of its Mainnet, VeChain has begun the process of migrating away from the Ethereum blockchain and the ERC-20 token swap is expected to take place some time in mid-July (read more).

2) The U.S. Securities and Exchange Commission (SEC) recently voted to propose new rules and amendments intended to modernize the regulatory framework for exchange-traded funds (ETFs), by establishing a clear and consistent framework for ETFs operating today. The new rules would have significant implications for the viability of a Bitcoin or cryptocurrency-based ETF, which have struggled thus far to garner formal SEC approval (read more).

3) The directors of the Austrian Financial Market Authority (FMA) recently proposed a series of more stringent regulations on cryptocurrencies and initial coin offerings (ICOs). The Austrian regulatory agency has proposed a “reasonable threshold” of 2 million euros for ICOs and board director, Klaus Kumpfmuller, remarked that cryptocurrencies should “be treated like securities in the future” (read more).

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