As a researcher with a background in blockchain technology and digital currencies, I’m closely following the recent developments in the crypto space. The news that the SEC is dropping its investigation into Ethereum is a significant win for the industry, but Consensys’ decision to press forward with their lawsuit against the regulatory agency highlights the need for greater regulatory clarity.
As a researcher, I’m excited to share that Ethereum‘s investigation by the Securities and Exchange Commission (SEC) has taken a new turn this week. The regulatory body has momentarily suspended its efforts to classify Ethereum as a security, following significant pressure from Ethereum developer ConsenSys.
As a researcher, I’ve come across the news that the Securities and Exchange Commission (SEC) has dropped their investigation into ConsenSys, but the company has chosen to move forward with filing a lawsuit against them instead. Let’s delve deeper into this intriguing turn of events.
Bitcoin
Standard Chartered, headquartered in the UK, has announced the launch of an official trading desk for Bitcoin and Ethereum based in London. This new desk is set to commence operations and will be integrated into the bank’s Foreign Exchange (FX) trading division.
MicroStrategy’s dominance in holding the most Bitcoin for corporations has been reinforced with their latest purchase of 11,931 Bitcoins for $786 million. This acquisition increases their existing stash to a grand total of 226,331 Bitcoins, currently valued at approximately $15 billion.
On June 20, the VanEck Bitcoin ETF made history by beginning trading on the Australian Securities Exchange (ASX).
Ethereum
The SEC has announced it will no longer probe the status of Ethereum (ETH) as a security following a letter from ConsenSys seeking clarity on ETH’s classification during the evaluation of proposed Ethereum spot Exchange-Traded Funds (ETFs).
As a dedicated crypto investor, I’m closely following the developments between Consensys and the SEC. Despite the Securities and Exchange Commission (SEC) wrapping up its 14-month probe into Ethereum’s development team, Consensys remains undeterred in their legal pursuit. Their objective is to establish clearer regulations for the cryptocurrency sector.
Back in 2017, Vitalik Buterin and Joseph Poon introduced Plasma as an innovative approach to support Ethereum with transaction volumes comparable to Visa (approximately 1,700 to 4,000 transactions per second).
Security
On June 9th, I discovered a vulnerability in Kraken’s cryptocurrency exchange platform that enabled me, as a security researcher working for CertiK, to pilfer approximately $3 million worth of assets. After finding this exploit, I notified Kraken about the issue. However, before they could address it, I took advantage of the situation and carried out the heist. Only after the fact did CertiK publicly disclose our involvement in uncovering this security flaw.
CBDC
Nabatech, a Swiss digital asset expert, has made the decision to construct its central bank and financial institution-focused digital asset platform using Polkadot‘s Substrate blockchain after carefully examining seven other options.
Regulation
The Winklevoss brothers, Tyler and Cameron, have given $1 million in Bitcoin apiece to help fund former President Donald Trump’s bid for re-election. This donation was made in response to the perceived hostile attitude of the Biden administration towards cryptocurrencies.
David Hirsch, who led the Securities and Exchange Commission’s (SEC) Crypto Assets and Cyber Unit, has departed from the agency following his resignation.
As a crypto investor attending Coinbase’s State of Crypto Summit 2024, I was intrigued by billionaire Mark Cuban’s perspective on the impact of SEC Chairman Gary Gensler’s actions on President Joe Biden’s reelection bid. Cuban expressed his belief that Gensler’s regulatory stance could potentially harm Biden’s campaign.
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2024-06-23 14:16