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Crypto Donate! MEXC Support Turkey After Earthquake With 1 Million Worth Lira

09 Feb 2023

Brian Armstrong, CEO of Coinbase, expressed concern about rumors that the U.S. Securities and Exchange Commission (SEC) may eliminate cryptocurrency staking for retail customers in the United States. Armstrong insisted that “staking is not a security” and that the trend allows users to “participate directly in running open crypto networks.”

Coinbase CEO Brian Armstrong said he has heard rumors that the U.S. Securities and Exchange Commission (SEC) plans to eliminate cryptocurrency staking for retail customers in the U.S. Armstrong shared his views on Twitter and stated that he doesn’t believe the top securities regulator should ban cryptocurrency staking in the country. “I hope that’s not the case,” Armstrong wrote, “as I believe it would be a terrible path for the U.S. if that were allowed to happen.”

Sharing a “primer” on the subject written by Paradigm, Armstrong stressed that staking is not a security. “Staking is a really important innovation in crypto,” the Coinbase CEO said. “It allows users to participate directly in running open crypto networks. Staking brings many positive improvements to the space, including scalability, increased security, and reduced carbon footprints.”

Coinbase CEO Brian Armstrong Expresses Concern Over Rumors of SEC Ban on Crypto Staking for Retail Customers

Armstrong argued that new technologies need to be fostered, not stifled, in the U.S. and that it is important for the country to have clear rules for financial services and Web3 industries for national security reasons. “Regulation by enforcement doesn’t work,” Armstrong said. “It encourages companies to operate offshore, as happened with FTX.” Not everyone agreed with Armstrong, as some quickly criticized staking and decentralized finance (defi). “It’s almost like defi and staking isn’t decentralized,” one person quipped in Armstrong’s Twitter thread.

Others poked fun at SEC Chairman Gary Gensler with a picture that included a quote that said: “Guess it’s time for more protection.” Another individual tweeted, “Realistically, the Howey test is so broad that pretty much everything is a security. The real test is whether the SEC wants to/feels like it can regulate the thing.” Armstrong hopes that the industry will work together to establish clear rules and “sensible solutions” that protect consumers while also “preserving innovation and national security interests” in the country.

What do you think about Brian Armstrong’s hearing rumors about the potential ban on cryptocurrency staking by the SEC? Share your thoughts in the comments below.

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.

Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework

Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)'s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.

Brian Armstrong, CEO of Coinbase, expressed concern about rumors that the U.S. Securities and Exchange Commission (SEC) may eliminate cryptocurrency staking for retail customers in the United States. Armstrong insisted that “staking is not a security” and that the trend allows users to “participate directly in running open crypto networks.”

Coinbase CEO Brian Armstrong said he has heard rumors that the U.S. Securities and Exchange Commission (SEC) plans to eliminate cryptocurrency staking for retail customers in the U.S. Armstrong shared his views on Twitter and stated that he doesn’t believe the top securities regulator should ban cryptocurrency staking in the country. “I hope that’s not the case,” Armstrong wrote, “as I believe it would be a terrible path for the U.S. if that were allowed to happen.”

Sharing a “primer” on the subject written by Paradigm, Armstrong stressed that staking is not a security. “Staking is a really important innovation in crypto,” the Coinbase CEO said. “It allows users to participate directly in running open crypto networks. Staking brings many positive improvements to the space, including scalability, increased security, and reduced carbon footprints.”

Coinbase CEO Brian Armstrong Expresses Concern Over Rumors of SEC Ban on Crypto Staking for Retail Customers

Armstrong argued that new technologies need to be fostered, not stifled, in the U.S. and that it is important for the country to have clear rules for financial services and Web3 industries for national security reasons. “Regulation by enforcement doesn’t work,” Armstrong said. “It encourages companies to operate offshore, as happened with FTX.” Not everyone agreed with Armstrong, as some quickly criticized staking and decentralized finance (defi). “It’s almost like defi and staking isn’t decentralized,” one person quipped in Armstrong’s Twitter thread.

Others poked fun at SEC Chairman Gary Gensler with a picture that included a quote that said: “Guess it’s time for more protection.” Another individual tweeted, “Realistically, the Howey test is so broad that pretty much everything is a security. The real test is whether the SEC wants to/feels like it can regulate the thing.” Armstrong hopes that the industry will work together to establish clear rules and “sensible solutions” that protect consumers while also “preserving innovation and national security interests” in the country.

What do you think about Brian Armstrong’s hearing rumors about the potential ban on cryptocurrency staking by the SEC? Share your thoughts in the comments below.

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.

Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework

Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)'s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.

Chainlink rallied to a three-month high during Thursday’s session, despite a red wave sweeping through cryptocurrency markets. Today’s surge came as the token broke out of a key resistance level. Dogecoin, on the other hand, was victim to today’s market sell-off, falling to a ten-day low in the process.

Chainlink (LINK) raced to a three-month high earlier in the day, as prices broke out of a key resistance level.

LINK/USD moved to a peak of $7.75 during Thursday’s session, which follows on from a bottom at $6.91 the day prior.

As a result of today’s surge, LINK jumped to its strongest point since November 8, when the token traded at a high of $9.48.

Looking at the chart, Thursday’s rally took place as bulls broke out of a ceiling at the $7.55 level.

The 14-day relative strength index (RSI) also broke out of a resistance of its own at 59.00, and is currently tracking at 61.58.

Should momentum continue in this direction, traders will likely be attempting to take profits closer to the 64.00 mark on the RSI indicator.

Whilst LINK hit a multi-month high, dogecoin (DOGE) fell victim to today’s crypto red wave, with prices falling by nearly 5%.

Following a high of $0.09226 on Wednesday, the meme coin slipped to an intraday low of $0.08635 earlier today.

This resulted in DOGE moving to its weakest point since January 30, nearing a recent price floor in the process.

The aforementioned point of support is at the $0.0850 mark, which has mostly held firm since mid-January.

Whilst the price floor attempted to stabilize, the support of 53.00 on the RSI indicator caved in, with the index now tracking at 50.00.

Despite this, bulls have moved to buy this dip, with overall market momentum still marginally bullish, as can be seen on the moving averages.

Register your email here to get weekly price analysis updates sent to your inbox:

Tags in this story
Analysis, Chainlink, Doge, dogecoin, LiNK, Meme Coin

Could dogecoin rebound higher as the week progresses? Let us know your thoughts in the comments.

Eliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

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.

Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days

Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.

Chainlink rallied to a three-month high during Thursday’s session, despite a red wave sweeping through cryptocurrency markets. Today’s surge came as the token broke out of a key resistance level. Dogecoin, on the other hand, was victim to today’s market sell-off, falling to a ten-day low in the process.

Chainlink (LINK) raced to a three-month high earlier in the day, as prices broke out of a key resistance level.

LINK/USD moved to a peak of $7.75 during Thursday’s session, which follows on from a bottom at $6.91 the day prior.

As a result of today’s surge, LINK jumped to its strongest point since November 8, when the token traded at a high of $9.48.

Looking at the chart, Thursday’s rally took place as bulls broke out of a ceiling at the $7.55 level.

The 14-day relative strength index (RSI) also broke out of a resistance of its own at 59.00, and is currently tracking at 61.58.

Should momentum continue in this direction, traders will likely be attempting to take profits closer to the 64.00 mark on the RSI indicator.

Whilst LINK hit a multi-month high, dogecoin (DOGE) fell victim to today’s crypto red wave, with prices falling by nearly 5%.

Following a high of $0.09226 on Wednesday, the meme coin slipped to an intraday low of $0.08635 earlier today.

This resulted in DOGE moving to its weakest point since January 30, nearing a recent price floor in the process.

The aforementioned point of support is at the $0.0850 mark, which has mostly held firm since mid-January.

Whilst the price floor attempted to stabilize, the support of 53.00 on the RSI indicator caved in, with the index now tracking at 50.00.

Despite this, bulls have moved to buy this dip, with overall market momentum still marginally bullish, as can be seen on the moving averages.

Register your email here to get weekly price analysis updates sent to your inbox:

Tags in this story
Analysis, Chainlink, Doge, dogecoin, LiNK, Meme Coin

Could dogecoin rebound higher as the week progresses? Let us know your thoughts in the comments.

Eliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

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.

Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days

Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.

PRESS RELEASE. Global crypto exchange LBank has registered as a Virtual Asset Provider with Italian regulator Organismo degli Agenti e dei Mediatori (OAM). The regulatory approval allows the exchange to offer a range of services and products to Italian users.

On the 1st of February 2023, LBank completed its registration with the OAM as a Virtual Asset Provider, as required by Italian legislation on crypto assets. The global crypto exchange with over 9 million users will now be able to offer services and products to Italian traders. The regulatory nod also allows LBank to open offices in Italy and expand its team.

By registering with the OAM, LBank joins a growing line-up of crypto exchanges who recently gained regulatory approval in Italy. After the official register of cryptocurrency traders was opened by the regulatory body on 18 May 2022, world’s largest crypto exchange Binance secured a spot just 9 days later. Other key industry players like Coinbase, Crypto.com, Bitstamp and BitMEX have also signed on since.

“We appreciate the efforts of the Ministry of Economy and Finance and the OAM in defining and enforcing industry standards in Italy to operate with full transparency. Which is an essential part of enforcing anti-money laundering rules and driving mainstream adoption of digital assets. This registration serves as a significant milestone in our journey to gain regulatory approval from jurisdictions around the globe,” said Eric He, co-founder and chairman of LBank.

LBank’s registration comes at a crucial time as European regulators prepare for the upcoming Markets in Crypto Assets (MiCA) regulatory framework. MiCA will define requirements for crypto issuers and service providers, such as exchanges like LBank. Bank of Italy Governor Ignazio Visco shared in a speech on the 4th of February that regulators in Italy are preparing a supervisory environment in anticipation of future EU crypto laws. Visco also added that the central bank found that about 2% of Italian households hold “modest amounts” of crypto.

 

 

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not 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 the press release.

Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days

Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.

PRESS RELEASE. Global crypto exchange LBank has registered as a Virtual Asset Provider with Italian regulator Organismo degli Agenti e dei Mediatori (OAM). The regulatory approval allows the exchange to offer a range of services and products to Italian users.

On the 1st of February 2023, LBank completed its registration with the OAM as a Virtual Asset Provider, as required by Italian legislation on crypto assets. The global crypto exchange with over 9 million users will now be able to offer services and products to Italian traders. The regulatory nod also allows LBank to open offices in Italy and expand its team.

By registering with the OAM, LBank joins a growing line-up of crypto exchanges who recently gained regulatory approval in Italy. After the official register of cryptocurrency traders was opened by the regulatory body on 18 May 2022, world’s largest crypto exchange Binance secured a spot just 9 days later. Other key industry players like Coinbase, Crypto.com, Bitstamp and BitMEX have also signed on since.

“We appreciate the efforts of the Ministry of Economy and Finance and the OAM in defining and enforcing industry standards in Italy to operate with full transparency. Which is an essential part of enforcing anti-money laundering rules and driving mainstream adoption of digital assets. This registration serves as a significant milestone in our journey to gain regulatory approval from jurisdictions around the globe,” said Eric He, co-founder and chairman of LBank.

LBank’s registration comes at a crucial time as European regulators prepare for the upcoming Markets in Crypto Assets (MiCA) regulatory framework. MiCA will define requirements for crypto issuers and service providers, such as exchanges like LBank. Bank of Italy Governor Ignazio Visco shared in a speech on the 4th of February that regulators in Italy are preparing a supervisory environment in anticipation of future EU crypto laws. Visco also added that the central bank found that about 2% of Italian households hold “modest amounts” of crypto.

 

 

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not 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 the press release.

Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days

Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.

PRESS RELEASE. MEXC, the fastest-growing crypto exchange in Turkey, has teamed up with its local staff to support the people who have been injured, providing temporary meals for first responders and affected families, and distributing clean-up supplies with other assistance.

The strong earthquake in south eastern Turkey near the Syrian border has tragically claimed the lives of at least 2,921 individuals. Countries around the world are sending support to help the rescue efforts, including specialist teams and equipment.

“More than 20,000 people have been affected by the powerful quake, some people had to face the pain of losing their families or friends,” said Andrew, VP of MEXC. “User First, MEXC’s changing for you” is not a commercially-slogan. At MEXC, we are always mindful of our responsibility to society, particularly to our users in the region here. We made quick responses to partner with our local staff, and ensure all donations will go to benefit people who need help. While we cannot replace what’s been lost, we hope to provide some relief during this challenging time.”

MEXC has been part of Turkey’s market since 2019 and has made incredible efforts into building local teams through its affiliate agents. Today, MEXC has become one of the most popular exchanges and reaching a user-favorable localization.

About MEXC

MEXC is the world’s leading cryptocurrency trading platform, providing one-stop cryptocurrency trading services for spot, ETF, futures, Staking, NFT Index, and more. MEXC currently serves more than 10 million users worldwide and embraces the philosophy of “Users first, MEXC’s Changing for you”. Visit the website and blog for more information, and follow MEXC Global and M-Ventures.

Contact:

Company Name: MEXC

Name: Antonio

Email: media@mexc.com

 

 

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not 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 the press release.

Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.

Image Credits: Shutterstock, Pixabay, Wiki Commons

NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales

Non-fungible token (NFT) sales saw a small uptick over the last week as $658.4 million in NFT sales were recorded, up 3.35% in seven days. Out of 15 blockchains, Polygon-based NFT sales saw the largest increase in volume, jumping 106.68% ... read more.

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