Crypto
Cryptocurrency firms need to ‘come into compliance’ with existing rules, SEC Chair Gary Gensler says
U.S. Securities and Change Fee (SEC) Chair Gary Gensler speaks with Senator Elizabeth Warren (D-MA) previous to testifying earlier than a Senate Banking, Housing, and City Affairs Committee oversight listening to on the SEC on Capitol Hill in Washington, U.S., September 14, 2021.
Evelyn Hockstein | Reuters
WASHINGTON — Securities and Change Fee Chair Gary Gensler on Wednesday pushed again towards criticism that the company did not implement guidelines stopping malfeasance by cryptocurrency companies, such because the illegal buying and selling that led to the demise of crypto change big FTX.
Gensler advised Yahoo Finance in an interview that the SEC has introduced greater than 100 enforcement circumstances within the crypto area, immediately difficult lawmakers’ questions in regards to the company’s oversight.
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In November, Sen. Elizabeth Warren, D-Mass., referred to as on the SEC to “swimsuit up” within the wake of the FTX failure, arguing the company has “fallen behind” the crypto trade. Members of the Home Monetary Companies Committee additionally referred to as on Gensler to reply questions on what he knew main as much as the FTX collapse.
“We’re already suited up,” Gensler advised Yahoo Finance.
The SEC chief stated cryptocurrency companies must be held accountable for compliance with current guidelines.
“You may consider them because the casinos whereby the investing public is on the lookout for a greater future,” Gensler stated. “And since most of those tokens are securities, that signifies that the … casinos want to return into compliance with our time-tested legal guidelines.”
“Their enterprise mannequin proper now could be providing the general public, they are saying, an curiosity return in crypto … after which presumably buying and selling towards their prospects, buying and selling forward of their prospects, lending that out,” he stated. “Anyplace else in finance, these conflicts usually are not allowed and so they’re separated out.”
Former FTX CEO Sam Bankman-Fried’s agency Alameda Analysis used billions of {dollars} in FTX buyer property for buying and selling, a follow that Gensler stated violates a federal statute. The corporate filed for chapter Nov. 11, and Bankman-Fried stepped down as CEO, because the agency confronted a liquidity disaster.
Bankman-Fried has denied committing fraud.
Lawmakers have noticed that federal oversight of FTX was hampered as a result of the corporate is headquartered within the Bahamas.
Gensler advised Yahoo Finance that the SEC has efficiently deterred different suspicious crypto agency actions. He cited expenses towards Poloniex and Coinbase for unauthorized operations as examples.
“We introduced actions towards crypto lending platforms together with BlockFi, and we’ll proceed to be a vigorous securities regulator, however I actually do recommend to those intermediaries, these storefronts, these casinos, if you want, to return into compliance, work with the SEC to get into compliance, disaggregate these companies,” he stated.
Gensler stated the SEC would take extra enforcement actions if cryptocurrency exchanges is not going to comply, however he didn’t elaborate on what these could be.
“We will use some exemptive authority to tailor issues … nevertheless it’s to not drop the essential protections: separating out these companies right into a separate change,” he stated.
Crypto
This Game Changing Cryptocurrency Could Reshape the Blockchain Landscape in 2025 – Brave New Coin
Lightchain AI has emerged as a standout in the blockchain space, positioning itself as a force with its cutting-edge AI integration and ultra-efficient tokenomics.
Currently in presale at just $0.003, it has already drawn comparisons to established giants like revolutionary DOGE, with potential for significant growth. As Lightchain AI gears up to redefine decentralized technology, its innovative roadmap and growing community highlight it as a game-changer.
Learn more at lightchain.ai.
Understanding Blockchain Evolution
Blockchain technology has come a long way from its inception, evolving from a system focused primarily on cryptocurrencies to a broader platform for decentralized applications and smart contracts. This transformation has enabled a wide range of industries to leverage blockchain for transparency, security, and efficiency. However, as the blockchain industry expands, challenges like scalability, energy consumption, and usability remain prominent concerns.
In response to these challenges, new blockchain projects are emerging with innovative solutions. These projects focus on enhancing scalability, reducing energy requirements, and integrating advanced technologies like artificial intelligence (AI). This evolution is not just about improving existing systems but also about reimagining how blockchain can drive progress in industries such as finance, healthcare, and supply chain management.
Impact of AI on Blockchain Tokens
AI is rapidly transforming the blockchain landscape, offering new levels of intelligence and adaptability. By integrating AI, blockchain projects can automate complex tasks, enhance decision-making processes, and improve system security. These advancements make AI-driven blockchain tokens more versatile and appealing to investors and developers alike.
One of the most significant benefits of AI in blockchain is its ability to optimize transaction processes and predict market trends. This capability allows projects like Lightchain AI to stand out by offering smarter, more efficient systems. As AI becomes an essential component of blockchain innovation, tokens that incorporate these technologies are positioned to lead the industry forward.
Comparison of Rising Cryptocurrencies
When comparing emerging cryptocurrencies, Lightchain AI consistently ranks among the top contenders due to its innovative features and promising roadmap. Unlike Doge, which primarily gained attention through community-driven hype, Lightchain AI combines cutting-edge AI capabilities with efficient tokenomics, making it a practical and forward-thinking choice for investors.
Other rising tokens also bring unique features to the table, but few match the versatility and scalability of Lightchain AI. Its ability to seamlessly integrate AI-driven solutions while maintaining a low entry price sets it apart from the competition. This blend of innovation and affordability makes Lightchain AI a clear frontrunner in the race to reshape blockchain technology.
Key Features of Lightchain AI
Lightchain AI introduces several innovative features that distinguish it in the blockchain ecosystem. One such feature is the Memecoin Launchpad, an AI-driven platform that provides a secure environment for creators to develop and monetize meme-based cryptocurrencies. This launchpad enhances the creative economy by offering tools and support for the seamless creation and deployment of memecoins.
Another notable feature is the Transparent AI Framework, which ensures that all AI decision-making processes within the platform are auditable and explainable. This framework enhances trust and reliability by embedding accountability into the system, allowing users and developers to interact confidently with Lightchain AI’s technology.
Future of Lightchain AI in Blockchain Space
With its unique combination of advanced technology and strategic planning, Lightchain AI‘s future looks bright. The token’s ability to adapt to market needs while pushing the boundaries of blockchain innovation makes it a promising contender in the industry, while the growing demand for AI-driven blockchain solutions further solidifies Lightchain AI’s position as a market leader.
Lightchain AI’s presale success reflects its strong potential, with tokens available at just $0.003. This affordable pricing, combined with its innovative features, attracts a diverse range of investors. As the project gains momentum, its focus on scalability, efficiency, and AI integration will likely drive widespread adoption and long-term success.
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This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.
Crypto
[Analysis] “Cryptocurrency Holders Surge Over the Past Two Years”
Image=Santiment
It has been observed that the number of cryptocurrency holders has surged over the past two years.
On the 23rd (local time), the on-chain analysis platform Santiment reported on X (formerly Twitter) that “the number of cryptocurrency holders has significantly increased over the past two years. The number of non-empty wallets for the top 4 cryptocurrencies by market capitalization has generally increased.”
Specifically, Bitcoin (BTC) has 54.7 million wallets (a 27% increase), Ethereum (ETH) 134.9 million wallets (a 47% increase), Tether (USDT) 657 million wallets (a 66% increase), and Ripple 575 million wallets (a 28% increase).
Crypto
Blockchain Revolution: How Cryptocurrency is Transforming Global Logistics – theafricalogistics.com
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The global logistics industry is undergoing a seismic shift, driven by the integration of blockchain technology and cryptocurrency.
These innovations promise to enhance transparency, efficiency, and security across the supply chain. From tracking shipments to streamlining cross-border payments, the synergy between blockchain and cryptocurrency is setting new benchmarks for the logistics sector.
1. Blockchain’s Role in Logistics
Blockchain technology, essentially a decentralized ledger system, enables secure and transparent recording of transactions. For logistics, this translates into the ability to track goods in real-time, authenticate the origin of products, and mitigate fraud. Key benefits include:
- Enhanced Traceability: Every transaction, from the manufacturing stage to delivery, is recorded on an immutable ledger. This ensures that stakeholders have a comprehensive view of the supply chain.
- Reduced Paperwork: By digitizing documents such as bills of lading and certificates of origin, blockchain eliminates the inefficiencies of manual processes.
- Improved Trust: Smart contracts, self-executing agreements coded on the blockchain, reduce disputes and enhance trust between parties.
2. Cryptocurrency in Cross-Border Transactions
Traditional cross-border payments in logistics are often marred by high fees, long processing times, and currency exchange risks. Cryptocurrencies, like Bitcoin and stablecoins, are addressing these challenges by:
- Lowering Transaction Costs: Cryptocurrency transactions bypass intermediaries, significantly reducing fees.
- Speeding Up Payments: Transactions settle in minutes, eliminating delays common with traditional banking systems.
- Enhancing Financial Inclusion: For businesses in emerging markets, cryptocurrencies provide access to global trade without reliance on conventional banking infrastructure.
3. Use Cases Transforming the Sector
Several real-world applications highlight the impact of blockchain and cryptocurrency in logistics:
- Walmart’s Blockchain Initiative: Walmart leverages blockchain to track the origin of produce, ensuring food safety and traceability within its supply chain.
- Maersk’s TradeLens Platform: Developed in collaboration with IBM, TradeLens uses blockchain to digitize and streamline global shipping documentation, reducing inefficiencies.
- Cryptocurrency-Powered Freight Payments: Startups like Slync.io enable shippers to pay carriers using digital currencies, enhancing payment speed and reliability.
4. Challenges to Adoption
Despite its potential, the adoption of blockchain and cryptocurrency in logistics is not without hurdles:
- Regulatory Ambiguities: The legal status of cryptocurrencies varies across countries, complicating implementation.
- Scalability Concerns: Processing thousands of transactions per second remains a challenge for blockchain networks.
- Skill Gaps: The logistics workforce often lacks the technical expertise to deploy and manage blockchain systems.
5. The Road Ahead
The integration of blockchain and cryptocurrency in logistics is still in its nascent stages but holds immense promise.
Industry players are investing in pilot projects to explore scalability and operational viability. The convergence of these technologies with artificial intelligence and IoT will further revolutionize the sector, enabling predictive analytics, autonomous supply chains, and more.
Conclusion
Blockchain and cryptocurrency are not just buzzwords but transformative tools reshaping the logistics landscape.
By fostering transparency, reducing costs, and expediting processes, these technologies are addressing long-standing inefficiencies in the supply chain.
As adoption accelerates, businesses that embrace this revolution stand to gain a significant competitive edge in an increasingly digital and globalized economy.
Also Read
How cryptocurrency works: A step by step guide
Exploring the potential use cases of Pi Coins post-launch
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