With the massive backlash concerning 3rd party apps and the API’s change, I don’t see moons with a positive forecast. You can argue it’s a vocal minority of people announcing their departure from reddit, sure. But you can’t deny there are inherent problems with moons and this subreddit. I don’t feel obligated to post or…
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From the very beginning, cryptocurrency has faced scrutiny and it continued to rise despite all odds because we are passionate! Imagine a huge crackdown in a few years when regular people and not degens like us start to use crypto. Their trust would never be restored. We need to show integrity and that the top…
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Hi, I need to send a payment in USDT ethereum (First time). My wallet is exodus. I converted $150 from bitcoin wallet to ethereum usdt wallet. After the fees I'm left with 148 USDT. But now if I try to send a payment, even for 1$, I get this error "Not enough funds. Deposit at…
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Should the deal go through, Prime Trust’s infrastructure will “map over 1:1” with BitGo’s services, and add another trust company and crypto IRA fund.
Hong Kong needs 100K crypto people STAT, AliExpress’ NFT drop censored, Binance humiliated on China TV, AI unicorn grows in 100 days.
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CRO, the native token of the Cronos blockchain, an open-source, interoperable, and Cosmos-based platform, a centralized crypto asset exchange, is steady despite some community members fearing that the United States Securities and Exchange Commission (SEC), the primary securities regulator in that country, could soon target Crypto.com, the crypto exchange and developer of the blockchain. CRO Stabilizes Despite Fears The SEC Might Sue Crypto.com As of writing on June 8, CRO is trading at $0.05889, stable in the last 24 hours against the USD, Bitcoin, and Ethereum. All the same, with the CRO average daily trading volumes at $9,098,498, it is down over 25% in the last trading day. The double-digit contraction in the previous 24 hours comes less than 72 hours after the SEC sued Binance, a dominant cryptocurrency exchange, alleging that it has been facilitating the trading of unregistered securities and illegally allowing Americans to access the platform. The SEC has filed 13 charges against the Changpeng Zhao-led exchange. Related Reading: Bitcoin Bearish Signal: Dormant 1,433 BTC Moves After 10+ Years The regulator also sued Coinbase in federal court in New York, claiming that, like Binance, the crypto exchange had listed and profited from the trading of unregistered securities. Tokens the SEC claim are securities include ADA, the native currency of Cardano; MANA, the token behind Decentraland; SAND, the ERC-20 token priming The SandBox; ALGO, the native currency of the Algorand proof-of-stake blockchain, and MATIC by Polygon. Stablecoin, BUSD; NEAR by the NEAR Protocol; CHZ by Chiliz, are some of the tokens mentioned and which the SEC alleges are unregistered securities. Even so, there was no express mention of CRO in any of the two lawsuits filed by the regulator against the two largest cryptocurrency exchanges. At the same time, it should be noted that Crypto.com also allows the trading of most tokens that the SEC alleges are unregistered securities. What’s Common in All Tokens The SEC Alleges Are Securities? Within the Cronos blockchain, CRO is used to pay gas fees. Also, because the platform uses a proof-of-stake consensus algorithm, users can stake CRO and receive rewards. Moreover, users can access the decentralized finance (DeFi) ecosystem in Cronos by holding CRO. In 2018, Crypto.com completed its initial coin offering (ICO), raising over $26 million, which also saw the launch of the CRO token. Observers have noted that of all the tokens the SEC claims are securities, they all conducted successful crowdfundings. Additionally, the projects accused of issuing securities also pledged to their respective communities that they would continue improving the underlying protocol via ongoing development. Related Reading: Stablecoin Market Cap Decreases, But Whales Remain Unfazed: Santiment With this, some of their funds were used to cater for marketing. Furthermore, each of these teams used social media channels and forums like Twitter, Discord, and others to highlight the advantages of their respective protocols. The determination of whether a token qualifies as a utility, such as Bitcoin, or an unregistered security rests with the judge. Until a ruling is made, exchanges may take precautionary measures, including delisting the asset, to ensure compliance with applicable regulations. Feature Image From Canva, Chart from TradingView
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Gensler argued that securities laws helped prevent stock market scams once they were passed in the 1930s and can benefit the crypto market of today.
