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The United States Securities and Exchange Commission’s (SEC) first enforcement action on a nonfungible token (NFT) project triggered responses from community members, pointing out how the decision could be "problematic," and how many NFT projects fit the description and may be next on the SEC’s hit list. On Aug. 28, the
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Circle’s USD Coin (USDC) and other stablecoins could potentially face a compliance nightmare if a new national defense bill that passed in the United States Senate makes it all the way.In a July 31 investment note seen by Cointelegraph, Berenberg analyst Mark Palmer explained that a recent amendment to the
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An obvious, but so far intractable, solution to this problem would be a decentralized stablecoin. Or ideally stablecoins. Unfortunately, most of the top DeFi-native stablecoins depegged along with USDC, a centralized and censorable asset that makes up a significant portion of supposedly decentralized asset’s backing. LUSD, for instance, tied to
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Alessio Evangelista, the associate director for Enforcement at the Financial Crimes Enforcement Network (FinCEN), said that “too often” crypto service providers have opted to keep their heads in the sand about blatantly suspect wallets “right up until the day of an OFAC designation or criminal indictment.” Source
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