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Before suing Coinbase, SEC asked it to trade only in bitcoin -FT

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Before suing Coinbase, SEC asked it to trade only in bitcoin -FT

July 31 (Reuters) – The U.S. Securities and Exchange Commission (SEC) had asked Coinbase (COIN.O) to stop trading in all cryptocurrencies except bitcoin before suing the cryptocurrency platform in June, the Financial Times reported on Monday, citing CEO Brian Armstrong.

“We really didn’t have a choice at that point. Delisting every asset other than bitcoin, which by the way is not what the law says, would have essentially meant the end of the crypto industry in the US,” Armstrong told the FT.

“It kind of made it an easy choice …  let’s go to court and find out what the court says,” he added.

The SEC had accused Coinbase of operating illegally because it failed to register as an exchange. It also alleged that Coinbase traded at least 13 crypto assets that are securities that should have been registered, including tokens such as Solana, Cardano and Polygon.

The SEC told FT that its enforcement division did not make formal requests for “companies to delist crypto assets”.

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“In the course of an investigation, the staff may share its own view as to what conduct may raise questions for the commission under the securities laws,” FT said, citing the SEC.

The regulator sued Binance in June, with both civil cases part of SEC Chair Gary Gensler’s push to assert jurisdiction over the crypto industry.

Gensler has labeled the crypto industry a “Wild West” that has undermined investor trust in the U.S. capital markets. Crypto companies say the SEC rules are unclear, and that the agency is overreaching by trying to regulate them.

The SEC and Coinbase did not immediately respond to a Reuters request for comment on the report.

Reporting by Juby Babu in Bengaluru; Editing by Sonia Cheema and Savio D’Souza

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Crypto

Solana Advances Congestion-Alleviating Central Scheduler Feature to Testnet – Altcoins Bitcoin News

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Solana Advances Congestion-Alleviating Central Scheduler Feature to Testnet – Altcoins Bitcoin News
Anza, a dev collective behind Solana, recommended the adoption of Agave v1.18.12 into the blockchain’s devnet and testnet. This new version of the mentioned client ships with a central scheduler that aims to reduce congestion by increasing fee collection and reducing conflicting transactions. Anza is calling for increased testing on this functionality. Anza Calls for […]
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Crypto

BlockDAG and Ethereum ETFs: Pioneering the Next Wave in Cryptocurrency Investments With BDAG Coin Gaining Over $21.3 Million In Presale

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BlockDAG and Ethereum ETFs: Pioneering the Next Wave in Cryptocurrency Investments With BDAG Coin Gaining Over $21.3 Million In Presale

As the cryptocurrency market continues to expand and diversify, Ethereum ETFs and the groundbreaking BlockDAG platform are emerging as leading contenders for the next major boom in the sector. Ethereum ETFs provide investors with a traditional way to invest in crypto through stock markets, combining the innovation of cryptocurrency with the stability of established financial systems. Meanwhile, BlockDAG introduces an innovative platform with a potential 30,000x return on investment, setting the stage for monumental $21.3 million financial gains and technological advancements within the blockchain realm.

Unprecedented Investment Opportunity with BlockDAG

BlockDAG offers an enticing investment opportunity with projections of substantial returns. Early investors in the project’s presale phases are poised to see their investments potentially increase by 30,000% by its official launch, mirroring the early success seen with cryptocurrencies like Ethereum.

The platform’s strategic roadmap underscores its promising future, detailing plans to launch its mainnet within six months and aiming for a market capitalization of $600 million by 2024. This detailed and ambitious planning boosts investor confidence and highlights BlockDAG’s dedication to achieving long-term success.

Ethereum’s Success Story: A Guide for Crypto Investments

Reflecting on past successes in the crypto world, the story of an early Ethereum investor, Cooper Turley, who made a fortune from his investments during a bull run, serves as inspiration. Turley’s success underscores the transformative potential of investing wisely in emerging technologies at the right time.

BlockDAG: Shaping the Future of Blockchain Technology

BlockDAG is set to transform the blockchain industry with its innovative use of Directed Acyclic Graph (DAG) technology. This technology addresses the classic blockchain trilemma of balancing security, scalability, and decentralization, without compromising any aspect. Moreover, BlockDAG’s commitment to environmental sustainability through an optimized Proof-of-Work (PoW) model enhances its appeal to eco-conscious investors.

BlockDAG is gaining attention for its exceptional approach and advanced technology, which could surpass previous benchmarks set by other cryptocurrencies. With projections indicating its price could soar to $20 by 2027, BlockDAG presents a lucrative opportunity for early investors. This section explores how BlockDAG’s unique features could redefine the future of crypto investments and why it’s attracting significant investor interest.

BlockDAG differentiates itself with state-of-the-art technology, robust community engagement, and impressive presale results, achieving $21.3 million in sales within Batch 10. These achievements reflect strong market interest and affirm the project’s viability.

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BlockDAG as a Cryptocurrency Portfolio Essential

Drawing parallels with Cooper Turley’s success with Ethereum, BlockDAG is positioned to be a pivotal success story in the cryptocurrency market. Early investors can participate in potentially exponential growth similar to Ethereum’s rise. With its visionary roadmap, commitment to sustainability, and a comprehensive suite of income-generating tools, BlockDAG stands out as a critical investment for those looking to diversify their portfolios and tap into the next big thing in crypto.

Looking ahead, BlockDAG’s combination of innovative technology, strategic market positioning, and potential for high returns makes it an indispensable addition to any investment portfolio with $21.3 million already secured in presale. Embrace the chance to invest in BlockDAG and be part of the thrilling evolution of the cryptocurrency market.

Experts predict that BlockDAG’s value could reach $20 by 2027, indicating significant ROI potential. Besides offering a robust digital currency, BlockDAG provides a portfolio of crypto applications that offer various passive income opportunities, catering to diverse investor needs.

Join BlockDAG Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

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Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

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Why Elon Musk wants to bring crypto to X

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Why Elon Musk wants to bring crypto to X

Since Elon Musk bought Twitter and rebranded it to X, the 52-year-old has perpetually been at the centre of the news cycle for his various business decisions.

From removing the verified feature to banning the term “cisgender” on the platform, he’s been an interesting owner of the social media platform.

Musk has previously stated his desire to have X become an “everything app”, but what does this mean? And where does cryptocurrency fit into this plan?

X payments chief information security officer, Christopher Stanley, recently wrote on the platform: “The end goal is if you ever have any incentive to take money out of our system, then we have failed, you shouldn’t ever need to take money out because you should be able to do anything you need on our platform.”

Stanley made the post after X acquired money-transmitter licenses in some US states, allowing the app to facilitate US dollar and crypto payments.

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“Think Venmo at first,” Stanley wrote. “Then, as things evolve, you can gain interest, buy products, eventually use it to buy things in stores (think Apple Pay), etc.”

Since Musk took over the platform, there has been speculation on whether he would try to integrate cryptocurrency into the platform and it appears the answer is yes.

Musk has offered a few reasons for this.

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To begin with, if X wants to incorporate the use of money on its platform, Musk wants this to include cryptocurrency, rather than just flat money, like US dollars.

In October, Musk said: “If it involves money. It’ll be on our platform. Money or securities or whatever.”

Musk has also stated that he wants X to become an “updated version” of PayPal, although PayPal already supports cryptocurrency, rolling out support for bitcoin, ethereum, lite coin and bitcoin cash in 2020.

The CEO of Tesla also recently made it possible to purchase Tesla vehicles with the cryptocurrency Dogecoin, and in America it’s possible to buy a Tesla with bitcoin, so it makes sense that he would incorporate his other products to support crypto.

Additionally, Musk has helped surge the price of Dogecoin, alongside other cryptocurrencies, since he teased crypto integration.

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