Major crypto exchange Coinbase has decided to take action to get an answer from the Securities and Exchange Commission: this week, they filed a court action seeking to compel Gary Gensler’s agency to give specific rulemaking on crypto assets.
J.W. Verret, associate professor of law at George Mason Law School, talks about how both parties are playing this game, how it could change the Howey test, and much more.
Users will be able to withdraw funds from the Ethereum mainnet in 30 to 60 minutes.
Daily Bits…✍️✍️✍️
A bipartisan bill, the Financial Technology Protection Act, was reintroduced in the U.S. Congress, calling for a federal study on the potential use of cryptocurrencies for illegal activities and recommendations to mitigate such uses.
The UK Treasury initiated a consultation on potential tax regulations for decentralized finance activities, particularly focusing on lending and staking.
South African Mirror Trading International CEO Cornelius Johannes Steynberg was ordered by a US court to pay $3.4 billion in restitution and penalties after being charged with fraud in 2022 for operating an unlicensed commodity pool scheme involving 29,421 BTC.
An anonymous bitcoiner seemingly exploited the Bitcoin blockchain to expose hundreds of wallets allegedly controlled by Russian security agencies, identifying 986 wallets linked to Foreign Military Intelligence Agency (GRU), Foreign Intelligence Service (SVR), and Federal Security Service (FSB), according to blockchain analytics firm Chainalysis.
Binance CEO Changpeng Zhao disputed Bloomberg's estimate of his net worth at $28.2 billion, stating the figures are incorrect and questioning the publication's motivations.
A PancakeSwap community vote is nearing completion, with nearly 70% of votes in favor of significantly reducing CAKE block rewards over the next few months, moving toward a deflationary model.
Today in Crypto Adoption...
Robinhood introduced "Robinhood Connect," enabling users to fund their Web3 wallets within decentralized apps and allowing developers to embed the feature directly into their dapps for seamless access to Robinhood credentials.
Hong Kong's Securities and Futures Commission is set to release guidelines for its crypto exchange licensing regime in May, following a consultation process that received over 150 responses.
The $$$ Corner…
Crypto wallet startup Giddy raised $6.9 million in a funding round to advance its recoverable self-custody smart wallet technology (Learn more about Giddy on this Premium episode of Unchained).
A look at the NFT collections whose relative stability has earned them the “blue-chip” moniker—the Apples, Shells, and Berkshire Hathaways of the crypto world.
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