WASHINGTON, June 7 (Reuters) – A bipartisan pair of U.S. senators unveiled a invoice on Tuesday that might set up new guidelines for cryptocurrency, and hand the majority of their oversight to the Commodity Futures Buying and selling Fee (CFTC).
The invoice, launched by Republican Senator Cynthia Lummis, one in every of Congress’ most vocal cryptocurrency advocates, and Democratic Senator Kirsten Gillibrand, marks one of the vital formidable efforts but by lawmakers to position clear guard rails round quickly rising and controversial cryptocurrency markets.
The measure would stipulate that the CFTC, not the Securities and Trade Fee, play the first function in regulating crypto merchandise, most of which the senators stated function extra like commodities than securities. The smaller CFTC is usually seen as a friendlier regulator for cryptocurrency, because the SEC has sometimes discovered that crypto merchandise should adhere to a number of securities necessities.
The invoice just isn’t anticipated to turn into regulation within the present session of Congress, with the midterm elections simply months away, however its framework might function a place to begin for future debates about how finest to supervise these markets.
“We anticipate this invoice would be the place to begin for debate subsequent yr no matter which social gathering controls the Home or the Senate,” wrote Jaret Seiberg, an analyst with Cowen Washington Analysis Group. “What does matter is that there’s a bipartisan effort to deliver crypto into the prevailing regulatory regime even when the main points are more likely to change.”
The senators stated the invoice is aimed toward offering certainty and readability to crypto markets, alongside client protections.
Amongst different objects, the invoice would set up new guidelines for “stablecoins,” that are tokens supposed to have their worth pegged to a conventional asset just like the U.S. greenback. These merchandise have been underneath important stress currently after a crash within the worth of a high-profile stablecoin, TerraUSD. learn extra
The brand new invoice would require stablecoin issuers to take care of high-quality liquid belongings equal to the worth of all excellent stablecoins, and public disclosures of these holdings.
Reporting by Pete Schroeder in Washington Modifying by Matthew Lewis
Disclaimer: The views expressed on this article are these of the writer and should not mirror these of Kitco Metals Inc. The writer has made each effort to make sure accuracy of knowledge supplied; nonetheless, neither Kitco Metals Inc. nor the writer can assure such accuracy. This text is strictly for informational functions solely. It isn’t a solicitation to make any alternate in commodities, securities or different monetary devices. Kitco Metals Inc. and the writer of this text don’t settle for culpability for losses and/ or damages arising from using this publication.
With just over two weeks left until Donald Trump takes office, there are prospects that the relationship between the cryptocurrency industry and the banking sector, which has been at odds, could change positively.
According to The Block, a cryptocurrency-focused media outlet, TD Cowen predicts that under the Trump administration, banks may see an improvement in their relationship with the cryptocurrency industry.
Jaret Seiberg and the Washington Research Group stated in a report, “Banks have the responsibility to comply with Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) regulations and manage risks such as liquidity and concentration,” adding, “If the Trump administration takes power, it is inevitable that the relationship between traditional finance and the cryptocurrency industry will change positively.”
However, they also mentioned that some banks may still take a cautious stance. They said, “Some banks may still see risks in increasing relationships with cryptocurrencies,” and “this could be targeted by new banks.” Additionally, stablecoins (assets linked to the value of fiat currency) were highlighted as the cryptocurrency sector that banks would be most interested in, as banks hold cash, making them advantageous for issuing stablecoins.
In the U.S., there has been ongoing conflict between the cryptocurrency industry and the traditional financial sector, particularly banks. There have been conspiracy theories suggesting that banks have implicitly enforced cryptocurrency-related sanctions, known as Operation Chokepoint 2.0. Some cryptocurrency figures have claimed that banks have tried to restrict access to traditional financial services for the cryptocurrency industry.
Brian Armstrong, the founder of Coinbase, commented on Operation Chokepoint 2.0, saying, “It actually happened. Unethical and un-American actions occurred under the Biden administration,” and “We are currently gathering evidence from victims through the Freedom of Information Act (FOIA).”
N Rotteveel/iStock Editorial via Getty Images
Bitcoin (BTC-USD) fell back to below the $100K mark on Tuesday after stronger-than-expected U.S. economic data led investors to further scale back their expectations for interest-rate reductions by the Federal Reserve.
The cryptocurrency gapped down 5.8% to $96.2K, a day after
Looking to make a life-changing investment in crypto? With the market booming and countless opportunities on the horizon, finding high-growth crypto coins can be your ticket to massive returns. But what if you could get in early on projects that are not only groundbreaking but also promise enormous potential for 200x ROI or more?
In this article, we’re diving into the seven best cryptocurrency to buy now that are primed for explosive growth. Among them, 5thScape (5SCAPE) stands out with its revolutionary VR ecosystem that blends gaming, education, healthcare, and real estate—creating a vast metaverse for users to explore. As the virtual world expands, 5thScape’s token offers a unique opportunity for investors to get in early and reap the rewards.
Another project that’s capturing attention is LuckHunter (LHUNT), a casino and gaming platform that merges the excitement of online gaming with blockchain rewards. LuckHunter offers exclusive play-to-earn opportunities and staking rewards, allowing investors to capitalize on the rapidly growing sector of crypto gaming.
Don’t miss out on these groundbreaking tokens—your 200x ROI could be closer than you think!
Here is the list of the seven best cryptocurrencies to buy now and build a future-proof portfolio:
Let’s now review each of these best cryptocurrencies to buy now and reap colossal returns in the upcoming new year.
5thScape (5SCAPE) is an innovative cryptocurrency that aims to revolutionize the virtual reality (VR) industry by integrating VR with blockchain technology. The project is building a decentralized metaverse that merges gaming, education, healthcare, and real estate. Through its immersive ecosystem, 5thScape offers users the chance to engage in groundbreaking VR experiences, making it a standout project in the crypto space.
Invest in the 5thScape VR project before its official listing >>
Key Features: 5thScape offers a multi-sector approach, allowing its token holders to enjoy real-world utility in various industries. Its decentralized platform includes applications for VR gaming, educational tools, and healthcare solutions, expanding its use beyond just gaming. The 5SCAPE token holders can earn staking rewards and influence decisions through decentralized voting, giving them a direct stake in the platform’s development. Upcoming VR games, including “Immersive Kick-Off” and “Epic Arena,” promise to attract a wide audience, further enhancing its value.
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Presale Prices and Token Details: Currently in its presale phase, 5SCAPE tokens are priced at $0.00438 per token. As the token is slated to list at a higher price, early investors stand to make a substantial return on their investment, with projections of up to 100% gains at launch. The presale provides a unique opportunity to secure tokens before the full-scale launch of the platform this month.
Market Potential and Future Outlook: With the metaverse expected to reach $947 billion by 2030, 5thScape is well-positioned to capture a significant share of this growing market. Its expansion into multiple industries, alongside its innovative VR offerings, positions it as a top contender for future growth, making it an exciting investment opportunity. Invest in the 5SCAPE tokens now before their price skyrockets on market debut. This is the only chance.
LuckHunter is an innovative Metaverse casino that merges blockchain technology with immersive virtual gaming experiences. By combining the transparency and security of blockchain with the limitless possibilities of the Metaverse, LuckHunter offers players the chance to interact in dynamic virtual spaces, play traditional casino games, and experience futuristic gaming. Through its native LHUNT token, users can stake rewards and participate in a decentralized ecosystem.
Visit the LuckHunter presale page now >>
Key Features: The LuckHunter platform allows users to rent, lease, or purchase customizable casino tables and properties, creating an interactive environment that enables both play and passive income generation. Blockchain transparency ensures secure, fraud-free gameplay, while the Metaverse integration provides players with an engaging, immersive experience that traditional online casinos cannot match.
Presale Details: LuckHunter’s presale provides an exciting opportunity for early investors. LHUNT tokens are being sold at $0.00138 and early investors can earn up to 400%. Token holders gain early access to a groundbreaking platform within the rapidly growing online casino gaming space.
Market Potential and Future Outlook: With the global online gambling market projected to reach $227 billion by 2028, LuckHunter is well-positioned to capture a significant share by leveraging Metaverse and blockchain innovations. Its focus on DeFi, secure gaming, and immersive experiences places it at the forefront of this industry’s transformation.
Ethereum (ETH) is a decentralized platform that enables smart contracts and decentralized applications to run without the risk of fraud or downtime. As the second-largest cryptocurrency by market capitalization, Ethereum has been at the forefront of the decentralized finance (DeFi) revolution and continues to play a central role in the development of blockchain-based solutions.
Key Features: Ethereum’s smart contract functionality enables the development of decentralized applications that can execute automatically when certain conditions are met. This has made Ethereum the go-to blockchain for DeFi, NFTs, and other blockchain-based solutions. Ethereum 2.0, which is set to improve scalability and reduce energy consumption, adds further value to the network.
Market Potential and Future Outlook: Ethereum has established itself as the leader in the smart contract and dApp space, with a large and diverse ecosystem. The ongoing transition to Ethereum 2.0 and its expansion into Layer 2 solutions ensures that Ethereum will maintain its leadership in the blockchain space. Its continued growth in DeFi and NFTs makes it an essential token for any crypto portfolio.
Polkadot (DOT) is a multi-chain blockchain platform designed to enable interoperability between different blockchains. The project focuses on creating a decentralized web where different blockchains can interact and share information, solving one of the biggest challenges in the blockchain space—interoperability.
Key Features: Polkadot allows different blockchains to connect and communicate via its relay chain and parachains. This interoperability makes it easier for developers to build decentralized applications that work across different platforms. Polkadot’s scalability and flexibility allow for the creation of customized blockchains tailored to specific needs.
Market Potential and Future Outlook: Polkadot’s ability to provide seamless interoperability between blockchains is highly valued in the growing blockchain ecosystem. As the DeFi and NFT sectors expand, Polkadot’s unique position to link various blockchains will likely drive its adoption. The platform’s innovations in scalability and cross-chain compatibility make it a strong contender for long-term growth.
Solana (SOL) is a high-speed blockchain platform designed for decentralized applications and crypto projects. Known for its fast transaction processing and low fees, Solana is one of the most popular blockchains in the DeFi and NFT spaces, offering scalability without sacrificing decentralization.
Key Features: Solana’s Proof-of-History consensus mechanism allows it to process thousands of transactions per second, making it one of the fastest blockchains in the world. Its low fees and high throughput have made it a preferred platform for DeFi applications, NFT marketplaces, and other decentralized services.
Market Potential and Future Outlook: As the demand for decentralized applications continues to rise, Solana is well-positioned to capture a significant share of the market. Its scalability, speed, and low transaction costs make it a strong competitor to Ethereum and other blockchain platforms. With ongoing developments and partnerships, Solana is expected to continue expanding its reach in the crypto ecosystem.
Race to a Billion (BDJ) is a gamified crypto platform that allows users to predict Formula 1 race outcomes and earn rewards. The token leverages the global appeal of motorsports and the growing interest in crypto betting platforms, offering fans a unique way to engage with their favorite sport while earning tokens for their predictions.
Key Features: The BDJ token is integrated into a prediction market where users can stake tokens and predict race outcomes. Winners receive rewards, which can be redeemed for other cryptocurrencies or used within the platform for future betting opportunities. The tokenomics of BDJ are designed to create a sustainable reward ecosystem, with high potential for growth as the platform attracts a larger audience of both crypto enthusiasts and sports fans.
Market Potential and Future Outlook: With Formula 1’s immense global following, Race to a Billion is poised to attract a large number of users who are passionate about the sport. The combination of sports fandom and cryptocurrency creates a compelling use case for BDJ, positioning it as a top pick for investors looking for exposure to the emerging sector of sports-related crypto platforms. The platform’s gamified approach also offers a unique twist that sets it apart from other crypto projects.
Bitcoin (BTC) is the world’s first cryptocurrency, created by an anonymous figure known as Satoshi Nakamoto in 2009. As the most valuable cryptocurrency by market capitalization, Bitcoin revolutionized the way we view money and transactions. It operates on a decentralized network, making it immune to central authority control, and offers a secure, transparent way to transfer funds globally.
Key Features: Bitcoin’s main feature is its decentralized nature, supported by a proof-of-work consensus mechanism. This ensures that transactions are verified by miners and recorded on the blockchain, making it resistant to fraud. Bitcoin also offers low transaction fees compared to traditional banking systems and has a capped supply of 21 million coins, creating scarcity and increasing its potential value over time. As a store of value, Bitcoin has often been referred to as “digital gold.”
Market Potential and Future Outlook: Bitcoin continues to lead the crypto market and has gained mainstream adoption as a hedge against inflation. With increasing institutional investments and adoption by large companies, Bitcoin’s future looks promising. As a pioneering cryptocurrency, it remains a core asset in any crypto portfolio and a key player in the financial ecosystem.
In conclusion, these seven best cryptocurrency to buy now are primed for significant growth, with each offering unique features and groundbreaking potential. From 5thScape’s immersive VR ecosystem to LuckHunter’s innovative Metaverse casino, these tokens present opportunities for investors seeking substantial returns. Whether you’re looking for DeFi innovations, gaming transformations, or next-gen financial solutions, these projects stand at the forefront of the crypto revolution. Don’t miss out on these high-potential investments—act now and secure your place in the future of cryptocurrency. Invest today and position yourself for massive gains in 2025!
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