Cryptocurrency Analysis and News Portal
It relied on smart contracts to execute crypto-to-crypto trades, and later branched out to include lending, staking, and non-fungible token (NFT) services. Developers further expanded Sushi’s capabilities to include nearly 24 other blockchains and layer 2 solutions, a move that helped it lock over $10 billion in assets at one
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The American politician and attorney serving as the 46th governor of Florida, Ron DeSantis, announced the state’s 2022-23 budget proposal last week and proposed an idea to let businesses pay state fees with crypto assets. The governor’s “Freedom First Budget” suggests creating a department in Florida to accept state fees
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Ethereum (ETH) co-founder Vitalik Buterin has proposed a new limit on the total transaction calldata in a block to decrease the overall transaction calldata gas cost over the ETH network. Buterin’s post on the Ethereum Magicians forum, EIP-4488, highlights concerns regarding high transaction fees on Layer-1 blockchains for rollups and the
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South Korea’s Financial Services Commission (FSC) has issued a report outlining its new definition of cryptocurrencies, along with proposed procedures for token issuers and punishments for non-compliance.The mooted rules could impose onerous regulations on individuals or platforms that mint non-art NFT’s intended for trading, as well as decentralized finance projects
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Ripple has published a proposal for a regulatory framework for cryptocurrencies called “A Real Approach to Cryptocurrency Regulation.” CEO Brad Garlinghouse explained that his company’s “proposed policy framework is a three-pronged approach of what can be done now,” noting that it is the result of Ripple’s “direct interactions with regulators
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An unknown investor has proposed to acquire a 51% stake in Africrypt — the collapsed cryptocurrency investment company — for a purchase price of $5 million. However, in exchange for the offer, the investor wants all criminal proceedings against Africrypt directors dropped. Offer Must Be Supported by 75% of Creditors According to
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Federal Deputy Luizão Goulart, a Brazilian congressman, proposed a bill to legalize crypto payments as a mode of payment for public and private sector workers.Goulart’s proposal seeks a new law that allows all Brazilian workers to have an option to request employers for remuneration in cryptocurrencies. However, the bill warrants
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U.S. Senator Ted Cruz has introduced a resolution that would position Congress to lead in the area of cryptocurrency by having congressional cafeterias, vending machines, and gift shops accept crypto payments. “Congress is typically slow to adopt new technology,” he said. Senator Pushes for Crypto Adoption in Congress U.S. Senator Ted Cruz
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Despite Gensler’s assurances, the perception of crypto regulation in the U.S. has been that it is disjointed, with no single federal regulator assigned to the overall industry. The SEC oversees securities and has spent years filing enforcement actions against initial coin offering tokens and startups accused of violating federal securities
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“Unfortunately, our current regulatory framework threatens to push this technology – and the jobs created by this rapidly growing industry – overseas,” McHenry said in a statement. “My bill, which builds on the great work of SEC Commissioner Hester Peirce, will help provide the necessary legal certainty to digital asset
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