Crypto lawyer and XRP advocate, John Deaton, has taken to Twitter to assemble a group of companies and individuals who the SEC has claimed violated Section 5 of the Securities Act.Deaton is seeking those who issued, offered, or sold a token that the SEC believes satisfies the Howey test and is subject to investigative subpoenas or asked to settle prior to enforcement action.Deaton clarified that he’s not looking for cases involving real fraud or scams that harmed investors.Instead, he’s interested in software code that the SEC claims are an investment contract, regardless of the seller or circumstances of the sale.
Coordinating Against Coordinated Efforts In his tweets, the crypto lawyer pointed out that it would have been beneficial if Ripple and LBRY’s defense teams had communicated with each other.
This comment comes as Gensler, the SEC chairman, beefs up the staff committed to crypto enforcement actions.According to Fox Business journalist, Eleanor Terrett, Gensler already doubled the staff designated for crypto last year.Deaton and other XRP supporters see Ripple as the best chance for the United States crypto industry against the SEC’s adverse enforcement policy.
LBRY, an open-source content distribution network, noted that other crypto players in the US could be playing offense but aren’t.As a result, it’s all on XRP to save the industry.
In light of the SEC’s actions, Deaton is calling for a coordinated effort to counter the anti-crypto push.With the SEC actively pursuing enforcement actions against crypto companies and individuals, it’s more crucial than ever to work together to defend the industry.
The SEC’s Definition of Investment Contracts Deaton and other experts in the industry are concerned about the SEC’s interpretation of investment contracts, as evidenced by a current litigation example.The company involved asked the SEC to justify why the desire to use or consume the product sold is not an additive unique material value and under the sole control of the individual purchasers to create a justification for their purchase at the time of the purchase.The SEC’s response claimed that if an alleged consumptive use is reversible or transitory, it is fully compatible with trading or exchange.
An investor could “consume” a token purchased primarily or entirely for investment purposes without detracting from its investment potential.As a result, the SEC could claim that everything that has a potential market could become a security.Was this writing helpful? No Yes Qadir AK Qadir Ak is the founder of Coinpedia.He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010.He has also interviewed a few prominent experts within the cryptocurrency space.architecture Ethereum Upgrade To Implement Beacon Chain Withdrawals Scheduled For April 12 During the Execution Layer Meeting streamed on March 16, 2023, Ethereum developers announced that the blockchain is scheduled to upgrade on April 12, in 27 days.
The upgrade, known as the Shanghai-Capella upgrade or Shapella, will include the implementation of Beacon chain push withdrawals.This will enable Ethereum network validators to support withdrawal operations following the ruleset change.Ethereum Validator Withdrawal Operations and Fee Optimization Enhancements Set to Go Live in 27 Days At the time of writing, the Beacon chain contract holds 17,680,535 ether, worth $29.33 billion using today’s Ethereum exchange rates.The upcoming upgrade, called Shapella, will enable the Beacon chain to use push withdrawals as operations through Ethereum Improvement Proposal (EIP) 4895.
According to the EIP-4895 documentation, this will “support validator withdrawals from the Beacon chain to the EVM via a new ‘system-level’ operation type.” Additionally, the summary notes that EIP-4895’s architecture is “‘push’-based, rather than ‘pull’-based, meaning withdrawals must be processed in the execution layer as soon as they are dequeued from the consensus layer.” The latest Ethereum upgrade was originally planned for this month, but the consensus change was postponed.During the Execution Layer Meeting on Thursday, Ethereum developers announced that the upgrade is now scheduled for April 12, 2023.In addition to the Beacon chain push withdrawals proposal, the upgrade will include the implementation of EIP-3651, EIP-6049, EIP-3860, and EIP-3855.
These enhancements are aimed at optimizing fees, such as limiting the “maximum size of initcode to 49152 and applying an extra gas cost of 2 for every 32-byte chunk of initcode,” as described in EIP-3860.Recently, Ethereum developers conducted testing of the upgrade on several testnets.
On Tuesday, the developers completed the Goerli testnet upgrade, which was essentially the final step before the activation of Shapella on the mainnet.Tags in this story architecture, backwards compatibility, Beacon Chain, Blockchain, blockchain governance, blockchain protocols, Codebase, community, consensus algorithms, Consensus change, Consensus Changes, Cryptocurrency, Decentralization, dequeued, Developers, EIP-3651, EIP-3855, EIP-3860, EIP-4895, EIP-6049, enhancements, Ethereum, Ethereum Improvement Proposal, execution layer, Fees, Forking, gas costs, Gas limit, Goerli, Hard Forks, mainnet activation, network, network upgrades, node operators, nodes, Optimization, pull-based, push withdrawals, push-based, Scalability, Security, Shapella upgrade, software updates, system-wide changes, testnets, Validators What impact do you think the upcoming Ethereum upgrade and the implementation of Beacon chain push withdrawals will have on the future of the Ethereum network and its users? Share your thoughts about this subject in the comments section below.Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida.Redman has been an active member of the cryptocurrency community since 2011.He has a passion for Bitcoin, open-source code, and decentralized applications.
Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only.It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies.Bitcoin.com does not provide investment, tax, legal, or accounting advice.Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.American Banks Report: US Government Auctions Off Failed Banks SVB And SNBY, Crypto Restrictions Apply The U.S.government and the Federal Deposit Insurance Corporation (FDIC) are auctioning off two failed American financial institutions, Silicon Valley Bank (SVB) and Signature Bank (SNBY), this week, with bids due by March 17.
However, sources familiar with the matter said the qualifications to purchase the banks are stringent, and reportedly, the purchasers cannot deal with crypto businesses anymore.Controversy Surrounds Alleged Crypto Restrictions for Potential Bank Buyers Last week, the second- and third-largest bank failures in America occurred within 48 hours of each other, and the two financial institutions are being sold this week.Unnamed sources familiar with the matter told Reuters that the FDIC is accepting bids for Silicon Valley Bank (SVB) and Signature Bank (SNBY), with final offers due on Friday, March 17, 2023.The FDIC already attempted to auction off SVB last weekend, but no deals materialized, and the U.S.government proposed a bailout plan for the depositors of both banks.Sources disclosed that the FDIC is using the investment bank Piper Sandler Companies to manage the auctions of both banks.
The sources added that the FDIC hopes to sell both SVB and SNBY in their entirety, but partial offers on specific bank branches and verticals will be considered.To purchase the two financial institutions, strict rules apply, as only an existing chartered bank can submit an offer.
Reuters contributors David French and Pete Schroeder were told that the scheme was designed to give traditional lenders “an advantage” over private equity companies.The reporters were also informed that bidders must not cater to cryptocurrency firms if they are to acquire SVB and SNBY.“Any buyer of Signature must agree to give up all the crypto business at the bank, the two sources added,” the report by French and Schroeder details.The Reuters account of the situation, stemming from unnamed sources, contradicts the statement made by the New York State Department of Financial Services.
The New York regulator insisted that the recent bank shutdowns had “nothing to do with crypto.” The regulator made this statement after Signature Bank board member and former member of the U.S.
House of Representatives from Massachusetts Barney Frank said he suspected the shutdown was an “anti-crypto” message.
If the rules concerning purchasing SVB and SNBY are true, then it seems Frank’s suspicions may be warranted.Tags in this story American Banks, anti-crypto, Auction, auctioning banks, bailout plan, bank failures, bank shutdowns, Banking Industry, Barney Frank, bidders, Bids, Chartered Bank, controversy, crypto businesses, Cryptocurrency, depositors, FDIC, Finance, Financial Institutions, Financial News, New York State Department of Financial Services, Piper Sandler Companies, potential buyers, private equity companies, Regulations, regulations vs innovation, restrictions, Reuters, Signature Bank, Silicon Valley Bank, sources, strict rules, traditional lenders, unidentified sources, US economy, US government Do you think the FDIC’s alleged decision to restrict bidders from dealing with cryptocurrency businesses is justified, or do you believe it unfairly disadvantages potential buyers? Share your thoughts in the comments section below.Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida.Redman has been an active member of the cryptocurrency community since 2011.
He has a passion for Bitcoin, open-source code, and decentralized applications.Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only.It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies.
Bitcoin.com does not provide investment, tax, legal, or accounting advice.Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.Altcoins US Could Be Hit by Potential Hyperinflation Soon-Will Bitcoin’s (BTC) Price Make It to $100K? The crypto space appears to have relaxed a bit as the prices of the popular tokens have been consolidating within a very narrow range.Bitcoin, the star cryptocurrency, appears to be accumulating gains as it prepares to fly past previous highs very soon.
Hence, the altcoins may also begin with a fresh bullish wave as the possibility of the global crypto market cap achieving the milestone of $2 trillion appears to be pretty high.But how will the BTC price reach $100k? And by when? The US economy has been badly hit by the ripple effects of the fallout from the major banks in the state.Although customers are assured they will get access to their funds, the stability of the banks continues to remain shady.In the meantime, JP Morgan, a leader in investment banking, raises the possibility of the FED releasing an emergency loan.
As per the reports, the FED may soon inject $2 trillion into the US banking system to stabilize the prevailing crisis.This facility is likely to be used by the largest banks, which may help the centralized banks recover from their losses.The reserve balances at the FED had depleted, but they spiked since the beginning of 2020 and marked highs during the first half of 2021.This was when the inflation rates began to surge.The rates, which were 1.40% in January 2021, soared to 9.06% in July 2022, which was the highest in the past 42 years! One needs to take note that this was the time when the crypto markets underwent a massive bull run where Bitcoin prices soared from around $10,000 to as high as $69,000.Now that the FED is preparing to inject $2 trillion into the economy, the dropped inflation rates may rebound and surpass the 2022 highs.This may be when the US could be hit with hyperinflation, resulting in a bull run in the crypto markets.Many tokens may rise more than 10x to double their ATH as the BTC price is assumed to hit $100K then! Was this writing helpful? No Yes Sahana Vibhute A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space.
Researching minute occurrences and bringing new insights lie within the prime focus of my task.Top posts architecture2 hours ago Ethereum Upgrade To Implement Beacon Chain Withdrawals Scheduled For April 12 During the Execution Layer Meeting streamed on March 16, 2023, Ethereum developers announced that the blockchain is scheduled to upgrade…American Banks4 hours ago Report: US Government Auctions Off Failed Banks SVB And SNBY, Crypto Restrictions Apply The U.S.government and the Federal Deposit Insurance Corporation (FDIC) are auctioning off two failed American financial institutions, Silicon Valley…
Uncategorized5 hours ago Best Utilities ETFs Right Now Low-interest rates are making treasury notes and bonds very unappealing for investors.Under these present conditions, finding safe income-producing investments…Bitcoin5 hours ago Bitcoin as an indicator for global liquidity, balance sheet growth Bitcoin as an indicator for global liquidity, balance sheet growth James Van Straten · 3 seconds ago Global balance sheets…Artificial Intelligence6 hours ago Top 6 AI Model Quality Trends To Watch Out For In 2023 The top 6 AI model quality trends to watch out for in 2023 are essentially enlisted in this article We…
aig6 hours ago On The Brink Of A New Trend: Credit Suisse Receives 50 Billion Swiss Franc Bailout From Swiss National Bank Credit Suisse has experienced a loss of confidence in the financial institution’s health following a significant drop in its shares’…Altcoins6 hours ago US Could Be Hit by Potential Hyperinflation Soon-Will Bitcoin’s (BTC) Price Make It to $100K? The crypto space appears to have relaxed a bit as the prices of the popular tokens have been consolidating within…Analysis7 hours ago Biggest Movers: DOGE, SHIB Slip Following ECB Rate Hike Dogecoin and shiba inu fell by as much as 5% in today’s session, as markets reacted to the European Central…Crypto8 hours ago Digital Assets Worth 2 Billion Rubles Issued In Russia In Less Than A Year Digital financial assets (DFAs) for a total exceeding $26 million have been issued in Russia in the past year.This…Crypto news8 hours ago EU Parliament Passes Legislation for EU-wide Digital Wallet, Integrating ZK-Proof Technology As cryptocurrencies continue to gain popularity around the world, countries are taking a collaborative approach to regulate these digital assets…ARB8 hours ago Arbitrum to airdrop ARB tokens to users on March 23 Arbitrum to airdrop ARB tokens to users on March 23 Oluwapelumi Adejumo · 2 hours ago · 2 min read…verdict8 hours ago ECB Rate hike verdict is 50bps, Bitcoin stands firm just below $25k Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy Policy.
CryptoSlate has no affiliation or…Analysis9 hours ago Bitcoin, Ethereum Technical Analysis: BTC Moves Briefly Back Above $25,000 Bitcoin briefly moved back above $25,000 on Thursday, as markets rebounded from a volatile session the day prior.The potential…Cryptocurrency9 hours ago Dogecoin (DOGE) Whale Who Bought DOGE Just Before Elon’s First-Ever Tweet, Is Accumulating RenQ Finance (RENQ), And Experts Aren’t Surprised.
Here’s Why Dogecoin (DOGE) has been making headlines lately, not only for its soaring price but also for the unexpected moves of…Artificial Intelligence9 hours ago LinkedIn Launched AI-Powered Features To Spruce Up User Profiles LinkedIn launched AI-powered features to spruce up user profiles and job descriptions When LinkedIn began distributing “AI-powered conversation starters” earlier…Bitcoin10 hours ago CryptoSlate wMarket Update: Bitcoin trades under $25,000 as rival coins falter CryptoSlate wMarket Update: Bitcoin trades under $25,000 as rival coins falter Oluwapelumi Adejumo · 4 hours ago · 3 min…Analysis10 hours ago New data reveals unusual NFT flipping trend New data reveals unusual NFT flipping trend Dorian Batycka · 6 hours ago · 2 min read Despite a market…
Bankruptcy10 hours ago Bankruptcy judge rejects U.S.government’s request to delay Voyager-Binance.US deal Bankruptcy judge rejects U.S.government’s request to delay Voyager-Binance.US deal Dorian Batycka · 4 hours ago · 2 min read…Trending – Canada1 week ago Spain A Hotbed For Cryptocurrency Real Estate Deals, According To Study – ABC News1 week ago Report: Perth Mint Faces $9 Billion Recall From China Over ‘Doped’ Gold Scandal – adoption1 week ago Ripple Survey Suggests Latam Merchants Will Adopt Crypto Payments Massively After Three Years – Alameda Research1 week ago Alameda Research Sues Grayscale Investments Seeking To Unlock Billions In Value For Shareholders – Cryptocurrency1 week ago Polygon (MATIC) Price Crashes This Week, When Will it Rebound? (Polygon Price Analysis) – Base1 week ago Coinbase exec claims Layer-2 Network could include AML measures – bomb threats1 week ago North Macedonia Says Bomb Threats Come From Russia, Crypto Used To Hide Origin – altcoin1 week ago Yuga Labs’ TwelveFold auction had this effect on Apecoin [APE] []https://news.btcminingvolt.io/uncategorized/spain-a-hotbed-for-cryptocurrency-real-estate-deals-according-to-study/ []https://news.btcminingvolt.io/uncategorized/report-perth-mint-faces-9-billion-recall-from-china-over-doped-gold-scandal/ []https://news.btcminingvolt.io/uncategorized/ripple-survey-suggests-latam-merchants-will-adopt-crypto-payments-massively-after-three-years/ []https://news.btcminingvolt.io/uncategorized/alameda-research-sues-grayscale-investments-seeking-to-unlock-billions-in-value-for-shareholders/ []https://news.btcminingvolt.io/news/polygon-matic-price-crashes-this-week-when-will-it-rebound-polygon-price-analysis/ []https://news.btcminingvolt.io/news/coinbase-exec-claims-layer-2-network-could-include-aml-measures/ []https://news.btcminingvolt.io/uncategorized/north-macedonia-says-bomb-threats-come-from-russia-crypto-used-to-hide-origin/ []https://news.btcminingvolt.io/news/yuga-labs-twelvefold-auction-had-this-effect-on-apecoin-ape/.
