XRP News Today: Canada Approves XRP ETF, US Senate Passes GENIUS Act, Iran Crypto Sector Hit by $90 Million Hack

On June 21, 2025, Canada made a significant move in the digital asset space by approving the XRP Exchange-Traded Fund (ETF), positioning itself as a leader in regulated digital assets. This approval, issued by Purpose Investments, marks Canada as the second country after Brazil to offer this investment vehicle. Vlad Tasevski, Purpose’s Chief Innovation Officer, highlighted that the Ontario Securities Commission’s (OSC) approval underscores Canada’s dedication to fostering a secure and innovative crypto ecosystem. This development is anticipated to encourage further regulatory advancements globally, particularly in the United States, where XRP ETF approval remains pending.

Meanwhile, the GENIUS Act has successfully passed the US Senate, signaling a transformative approach to stablecoin regulation with bipartisan backing and potential bank involvement. The legislation aims to stabilize and legitimize stablecoins within the financial system, promoting dollar-backed stablecoins to reinforce the US dollar’s dominance in global finance. With President Trump’s anticipated endorsement, the GENIUS Act is poised to become law, potentially accelerating the integration of stablecoins into mainstream banking. Major financial institutions are already exploring stablecoin launches, signaling a robust growth trajectory for this sector. The GENIUS Act’s passage underscores the increasing recognition of stablecoins as vital components of the digital economy, promising enhanced transparency, security, and regulatory oversight.

In a separate but related development, geopolitical tensions between Iran and Israel have escalated into the blockchain realm. Israeli-backed hackers executed a sophisticated attack on Iran’s crypto sector, resulting in the theft and destruction of $90 million in tokens. This attack, claimed by the hacktivist group Gonjeshke Darande (Predatory Sparrow), is unprecedented in its scale and intent, signaling that blockchain technology has become a new battleground for state-backed cyber operations. The incident raises concerns about the vulnerability of crypto infrastructure amid geopolitical conflicts and the potential for similar attacks to disrupt global markets. The hack illustrates how cryptocurrencies, once considered neutral financial instruments, are increasingly entangled in international disputes. While the immediate market impact has been contained, the precedent set by this attack could lead to heightened security measures and increased regulatory scrutiny. Industry stakeholders must now consider geopolitical risk as a critical factor in their operational strategies.

These developments highlight the evolving landscape of digital assets. As regulation tightens and geopolitical risks emerge, stakeholders must navigate a complex environment that balances innovation with security and compliance. The crypto industry stands at a crossroads, with these events shaping its trajectory toward greater maturity and resilience. With analysts predicting a 95% chance of XRP ETF approval in the US, Canada’s move could serve as a catalyst for regulatory progress south of the border. Additionally, new initiatives such as the Zebec Network’s reward program for XRP holders demonstrate growing ecosystem activity. However, some projects like Pi Network have faced criticism, underscoring the varied dynamics within the crypto community.