Blockchain
White House Representatives To Vote For A Bill To Allow CFTC &Amp; SEC To Regulate Crypto
Representatives from the White House are poised to vote on a bill granting authority to the Commodity Futures Trading Commission (CFTC) to regulate cryptocurrencies under commodities rules.
The CFTC currently oversees U.S. derivatives markets, including crypto futures, treating cryptocurrencies as commodities to safeguard against fraud and manipulation while fostering innovation through appropriate regulation. However, its regulatory reach within the crypto sector remains limited, relying on traditional rules and laws.
According to a recent report by a16zCrypto, the White House representatives are set to vote on bill HR 4763 by the month’s end. This legislation aims to empower the CFTC with clear rules and laws to regulate cryptocurrency projects and companies dealing with commodities or digital assets deemed commodities.
Under the proposed bill, the CFTC would classify a digital asset as a commodity if it demonstrates functionality and decentralization. Conversely, the United States Securities and Exchange Commission (SEC) would categorize a digital asset as a security if its associated blockchain is functional but lacks decentralization.
Decentralization, as defined in the bill, refers to the absence of unilateral control over the blockchain or its usage by any single entity, and no issuer or affiliated party possessing 20% or more control over the digital asset or its voting power.
The upcoming vote on bill HR 4763 by the U.S. House of Representatives will be pivotal. It aims to clarify crypto regulations, with the CFTC focusing on functional and decentralized digital assets, while the SEC addresses those deemed securities.
The response from U.S. crypto law experts will be closely watched, as this bill promises clarity in crypto regulations but may also face scrutiny from various stakeholders within the crypto industry.
In the past, numerous top crypto companies have voiced concerns over unclear regulations. Critics argue that the SEC oversteps its authority in regulating the crypto sector, despite lacking explicit jurisdiction.
Unclear regulations create challenges for crypto businesses, making it difficult to operate in a hostile regulatory environment.
Source: cryptodaily.co.uk
The post White House Representatives To Vote For A Bill To Allow CFTC &Amp; SEC To Regulate Crypto appeared first on HIPTHER Alerts.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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