The SEC has formally scrapped several proposed crypto regulations that were served up under the former SEC chair Gary Gensler.
Read on to know more about the scrapped proposals and what the move could mean for the crypto industry’s growth.
Had the proposal gone through, it would have also meant that cold storage or hardware wallets to hold crypto would have become illegal.
Unlike traditional assets, there are very few qualified custodians for crypto assets. This would have ultimately discouraged crypto investments and added additional risks for advisors.
Similarly, the SEC also scrapped the Cybersecurity Risk Management Proposal for Investment Firms.
This would have required investment advisors, registered funds, and business development companies (BDCs) to have a written cybersecurity policy framework.
The proposed changes would have also required parties to file a report with the SEC within 48 hours of any breach.
Despite his earlier stance, Donald Trump has been vocal about his support for crypto.
The CLARITY Act aims to provide clearer regulatory guidelines for cryptocurrencies and define the roles of the SEC and CFTC in overseeing the crypto market.
This token aims to revolutionize Solana with cutting-edge scalability and cross-chain technologies.
Solana, in case you’re wondering, has been dealing with congestion and failed transactions ever since the $TRUMP and $MELANIA tokens overloaded it.
Solaxy’s master plan, therefore, is to build a brand-new L2 – Solana’s first true Layer 2 solution – which will offload the mainnet’s transactions onto a side chain, providing relief and improved efficiency.
Did you know the Bitcoin blockchain can only process seven transactions per second? That’s so low it has overloaded the network and made it unfit for Web3 adoption.
Enter Bitcoin Hyper.
It will do so by integrating with a decentralized, smart canonical bridge that will convert your $BTC from a Layer 1 asset to a Layer 2 asset.
The Layer 2 tokens it mints can be used for high-speed payments and swaps. They can also be used for lending and staking on NFT platforms, DeFi apps, and gaming dApps. This lets you do more with Bitcoin than just use it as a store of value.
And don’t worry; when you want your $BTC back, just request a withdrawal and your tokens will be converted into a Layer 1 asset again, transparently and securely.
After scrolling through countless TikTok videos and Instagram reels, seeing people gain and lose ‘aura,’ crypto degens finally have an appropriate outlet to show their love for this new phenomenon.
Of course, $AURA is a community-driven token without any real utility. That said, it does come with a unique meme generator, which token holders can use to generate +Aura memes and share them on social media for clout.
However, the broader crypto market is highly volatile and unpredictable, which is why none of the above should be considered financial advice. Kindly do your own research before investing.
