Here’s what happened in crypto today

Today in crypto, spot Ether ETFs have recorded inflows for 15 consecutive days, US lawmakers remain divided over digital asset legislation, as questions mount about President Donald Trump’s ties to the industry. Meanwhile, Singapore’s central bank has effectively barred most crypto firms from offering foreign-only services.Spot Ether ETFs 15-day inflow streak accumulates $837.5M inflowsUS-based spot Ether exchange-traded funds (ETFs) have just recorded a third consecutive trading week of inflows. If next week follows suit, the current inflow streak alone may surpass $1 billion in total inflows.On June 6, spot Ether ETFs posted $25.3 million inflows for the trading day, extending the streak to 15 consecutive inflow days, according to Farside data. The current inflow streak since May 16 has now brought in $837.5 million, roughly 25% of the total $3.32 billion in net inflows since spot Ether ETFs launched in July 2024.If the pattern continues into the coming week, an additional $162.5 million in inflows would push the streak’s total to $1 billion.Crypto market structure hearing devolves into partisan claimsRepublican lawmakers on the House Financial Services Committee (HFSC) pushed back against concerns that US President Donald Trump could personally profit from his exposure to the crypto industry, dismissing the claims as political “theatrics” amid ongoing debate about digital assets legislation.In a June 6 hearing organized by Democrats, HFSC ranking member Maxine Waters defended that the lawmakers should focus on “information that has not been explored during the committee hearing” on June 4, which dealt with concerns around the Digital Asset Market Clarity (CLARITY) Act. The debate around the crypto market structure bill, expected to head for a vote on June 10, has been partly shadowed by calls for provisions to stop Trump from potentially using the legislation to his personal benefit.Representative Bryan Steil, who chairs the digital assets committee, dismissed criticisms as “Trump derangement syndrome,” a term often used to describe negative reactions to the president’s policies. Cointelegraph reached out to a Steil spokesperson for comment but had not received a response at the time of publication.“My Republican colleagues refuse to even acknowledge President Trump’s crypto corruption, which undermines their efforts to pass this bill,” said Rep. Stephen Lynch following Steil’s remarks. “I assume out of fear and backlash from the president.”It’s unclear whether the Democrats’ efforts will garner enough support among members of their party or Republicans to slow or halt passage of the CLARITY Act. Before Trump’s dinner to reward his memecoin holders on May 22, Waters introduced a separate bill to block the president, vice president, members of Congress and their families from engaging with digital assets.Singapore confirms near-ban on foreign-only digital token servicesThe Monetary Authority of Singapore has shed light on its Digital Token Service Providers (DTSPs) regime, following widespread panic in the industry over a potential ban on crypto firms serving overseas clientsIn a June 6 announcement, MAS reiterated that starting June 30, crypto firms “providing services solely to customers outside of Singapore relating to digital payment tokens and tokens of capital market products will need to be licensed.”However, the regulator warned that such licenses will be granted only in “extremely limited circumstances.”“MAS has set the bar high for licensing and will generally not issue a licence,“ the agency said, citing the difficulty of supervising offshore firms and money laundering risks as key concerns.MAS is unable to effectively supervise such persons,” the regulator added. Consequently, businesses unable to obtain licenses will “have to cease their regulated activities.”The crypto market took notice when the MAS set a deadline of June 30 for local crypto service providers to stop offering digital token services to overseas markets earlier this month.The new rules have already triggered a shift. India-serving but Singapore-based crypto exchange WazirX announced that it will be moving its operations to Panama, shortly after the MAS announced the deadline.