News on May 7
Here are some highlights in crypto news today:
• India tightens crypto controls: India has conducted a major crackdown on crypto traders for not declaring income.
• SEC opposes crypto ETF: A commissioner of the SEC has opposed crypto ETFs, reducing the likelihood of approval for the XRP ETF.
• Ripple CTO speaks out: The CTO of Ripple has responded to Caitlin Long's misconception about "XRP ICO".
• Bitcoin and price predictions: John Bollinger warns of a "fakeout" as Bitcoin prices rise. Tom Lee predicts that if Bitcoin reaches $1 million, a company could become the largest public company in the U.S.
• Inflows into Bitcoin ETF: The Bitcoin spot ETF has returned to net inflows with $91.5 million after a 4-day outflow streak