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US SEC Chair Gensler reaffirms Bitcoin (BTC) is not a security under SEC rules

  • US SEC Chair Gensler reaffirms Bitcoin (BTC) is not a security under current regulations.
  • SEC plans new regulations for DeFi and trading systems to protect investors.
  • Crypto firms, including Coinbase, push back against expanding regulatory scope.

In recent statements, SEC Chairman Gary Gensler has firmly reiterated that Bitcoin is classified as a non-security under existing SEC regulations. His comments came during an interview on CNBC’s “Squawk Box.”

Gensler emphasized the importance of regulatory clarity, insisting that while many firms have benefitted from the public’s growing interest in cryptocurrencies, they often resist the regulations designed to ensure market integrity.

In the interview, Gensler noted that the SEC’s role is to foster trust in the market, stating, “Innovations do not develop in the long term unless they also build trust.” He referenced the significant losses and bankruptcies that have occurred in the crypto space, underscoring the necessity of having regulations in place to protect investors.

Despite Gensler’s reaffirmation regarding Bitcoin, he acknowledged the discontent among crypto firms concerning regulatory frameworks. He highlighted that many industry stakeholders argue against the existence of such regulations, which he attributes to their discomfort with the enforcement actions taken by the SEC.

Notably, Gensler’s remarks follow the recent eToro settlement, which confirmed that Bitcoin (BTC), along with Bitcoin Cash (BCH) and Ethereum (ETH), are not considered securities.

SEC’s trading systems proposal

Earlier Gary Gensler while testifying before the US House Financial Services Committee discussed the SEC’s proposal to mandate alternative trading systems to choose whether to register as national securities exchanges or to register as broker-dealers and comply with additional requirements under proposed Regulation ATS depending on their activities and trading volume. This proposal aims to close regulatory gaps among trading platforms, ensuring compliance with rules intended to prevent unfair trading practices.

However, the proposed regulations have met significant push-back from digital-asset firms, including Coinbase, which argue that the definition of an exchange could inadvertently include DeFi platforms, complicating their compliance.

As the SEC continues to navigate the complex landscape of cryptocurrency regulation, Gensler reiterated the agency’s commitment to fostering a transparent market.

With no timeline set for final decisions on the trading systems proposal, the SEC remains open to considering applications from exchanges seeking to offer central clearing for the US Treasury market, which is projected to expand significantly under new rules.

The post US SEC Chair Gensler reaffirms Bitcoin (BTC) is not a security under SEC rules appeared first on CoinJournal.

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Cryptocurrency: Top 2 Coins to Buy Today if You Missed Out on Shiba Inu (SHIB) and Dogecoin (DOGE)

Those who missed out on Shiba Inu and Dogecoin coins when there was a quick surge may have felt as though the likelihood of such riches in the market has come and gone. However, do not fret because the market never disappoints and it is always open for business. Two projects (Rexas Finance (RXS), and Toncoin (TON)) in the crypto market are emerging as the ones to watch and make the most of the next big surge. Let’s see how these two coins might be the ones to keep your eyes on and purchase today.

Rexas Finance (RXS): An Innovative Approach to Tokenize Real-Life Assets

Rexas Finance (RXS) is consistently ranked among the top projects in the decentralized finance (DeFi) and tokenization spaces. Rexas was established on the principle of the Real-world Asset (RWA) token and sought to transform the sectors of the economy involved in finance and blockchain into one seamless system. This platform will enable the easy and fast conversion of physical assets such as real estate, works of art, and commodities, as well as intellectual property rights into digital assets.At present, Rexas Finance is in the third stage of presale where tokens are offered at $0.05 per token, this being stage 3 after successfully raising $1.25 million in stage 2 presale. The presale has gained more publicity on account of its previous sales. Those who bought into Stage 1 at $0.03 have already made a return of 66% and that price is set to increase further as the project picks up.

Why Invest in Rexas Finance?

Real World Asset Tokenization: Rexas Finance is allowing new market opportunities for the physical and nonphysical assets being tokenized. With fractional ownership at the most minimal level, many investors may invest in areas that have been considered difficult to invest in such as real estate or art as the assets can be represented by blockchain-based digital coins.

Decentralized and Transparent: The application of blockchain enhances security and transparency levels that conventional financial institutions could hardly encore. A Stating Smart contract creates a situation where a transaction is carried out only in the manner that it was envisioned which lowers the fraud risks associated with it and makes asset movement simpler.

Broad Use Cases: Rexas Finance is multi-purpose in this regard. It caters to fundraising for new projects, community-governed tokens, event organization, and management in addition to partial ownership to mention but a few of its applications. This ability to be multi-functional helps it distinguish itself from most single-use tokens.Rexas’ presale shows signs of strengthening the cornerstone of the project. Intercontinental Exchange now thinks it will launch at $ 0.20. Meaning, those who buy into this early stage may watch their investments grow by 500x making this attractive for anyone looking to ride the next wave.

Toncoin (TON): Future blockchain model

Toncoin (TON) is another token that’s steadily establishing itself in the global cryptocurrency market with new functionalities coming into play thanks to the concept of scalability. For the reader’s orientation, Toncoin is a native currency supporting The Open Network (TON), a blockchain seeking to provide high-speed transactions, decentralized apps, and other services.TON is a reasonable blockchain network since it does not have a high proneness to solve problems of network cost and scalability that are typical of many blockchains today, most especially Ethereum. Due to its design that incorporates multi-layer consensus, the network can support several million transactions per second (TPS), thus ranking as one of the most effective and fastest-accessed blockchain-based platforms.

Why Invest in Toncoin?

Telegram Support: Although Telegram was unable to pursue the project due to regulatory constraints, Toncoin bears the trademark and has managed to obtain popularity inside the Telegram community and even more. It even has a base on social networking since it has a messaging app installed compulsorily to help its members which are 500 million in number.

Scalability and Speed: This is why it is a multi-paper scalable blockchain platform emerging as a promise for dApps, payments, and DeFi projects. It is great against giants such as Ethereum because of the faster transaction Ls and low fees.

DeFi and NFTs: Not only is TON looking at scalability, but it is also intending to play an active role in the DeFi and NFT ecosystems. Toncoin is emerging as a threat to ETH, Solana, and other major players with quick transactions and less expensive gas fees.

Although, Toncoin has been gaining equal steam with regards to the likes of Bitcoin Cash that say they can lower transaction speed and cost, which is a beefy sell point for people who want to keep an investment without utilizing it for the distractive purposes of a repository.

Conclusion

If you regret missing out on Shiba Inu and Dogecoin then don’t stress—you still have another opportunity to grab the next turning point in the cryptocurrency space. 

Rexas Finance (RXS) and Toncoin (TON) are two projects that are set to grow tremendously on the launch day. Rexas is at the presale 3 stage at $0.05 with a great likelihood of surging once it’s launched owing to its unique platform that helps in tokenizing real-world assets. On the other hand, Toncoin is aiming to become one of the leaders in the DeFi and blockchain industry with its highly extensible network.

These two projects are in the very early stages so you have an opportunity to get in them at the beginning and be among the beneficiaries when the projects mature. As always, be prudent and conduct research and analysis of risks, but Rexas Finance and Toncoin are good options for those who want to enter the world of cryptocurrency.

For more information about Rexas Finance (RXS) visit the links below:

Website: https://rexas.com

Win $1 Million Giveaway: https://bit.ly/Rexas1M

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

Twitter/X: https://x.com/rexasfinance

Telegram: https://t.me/rexasfinance

The post Cryptocurrency: Top 2 Coins to Buy Today if You Missed Out on Shiba Inu (SHIB) and Dogecoin (DOGE) appeared first on CoinJournal.

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Bitcoin surges past $65k to push 90% of holders into profit

  • BTC price rose to $65,500 on major exchanges, a 7-week high.
  • The upside sees most Bitcoin holders in profit, which IntoTheBlock puts at over 90%

Bitcoin has spiked past $65,000, reaching the highest price level since early August 2024. The surge to the $65k level, with BTC hitting $65,500 on Coinbase, has put more than 90% of Bitcoin holders into profit.

Notably, the surge has other coins looking to break higher. Ethereum has strengthened above $2,600, BNB is above $600 and Solana has jumped to $157.

BTC/USD price chart. Source: TradingView

BTC hits 7-week high

In recent weeks, Bitcoin had struggled to breach resistance at $60k.

However, once bulls did, the flagship cryptocurrency has run to a seven-week high last seen on August 2, 2024. The coin’s price hit the $65.5k area on most major crypto exchanges to see it retest a level likely to be key for both bulls and bears.

Earlier in the day, on-chain analytics platform IntoTheBlock noted that more than 90% of BTC holders would swing profitable if Bitcoin crossed the $65k.

This has happened and with recent profit taking deals in mind, bulls may need further strengthening to continue higher. Short term, the key levels are at $68k and $70k – which could include a potential retest of the all-time high of $73k reached in March.

Alternatively, bears may take advantage and return prices lower – a scenario witnessed in July/early August as BTC declined from highs of $70k.

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Uphold’s Topper integrates with Ledger hardware wallet

  • Uphold’s Topper integrates with Ledger hardware wallet’s Ledger Live software for seamless fiat-to-crypto transactions.
  • The Integration aims to challenge traditional banking and improve crypto accessibility.
  • Following the integration, Ledger hardware now offers 14 on-ramps but only one off-ramp, enhancing user options.

In a significant move to enhance cryptocurrency accessibility, Uphold’s fiat-to-crypto on-ramp, Topper, has officially integrated with Ledger Wallet, a leading hardware wallet.

This integration is set to transform the way users engage with digital assets, allowing for seamless fiat-to-crypto transactions directly through the Ledger Live application.

The integration of Topper expands the purchasing options available within Ledger Live, which now supports over 200 digital assets. Users can now buy cryptocurrencies like Bitcoin using fiat currencies such as the US dollar, facilitating a more straightforward entry into the crypto market.

Ledger Wallet expanding its on-ramp options

Ledger has long been regarded as the gold standard in hardware wallets, having sold over 7 million devices since its inception in 2014.

Ledger’s Vice President of International Development, Jean-François Rochet, highlighted the importance of this partnership, stating, “This integration creates a balanced mix of localized and global offerings for our users.”

Currently, Ledger features 14 on-ramp solutions, significantly outpacing its one off-ramp option. This disparity highlights the company’s ongoing efforts to enhance user experience by expanding fiat, crypto, and geographical coverage.

The integration also aims to challenge conventional banking services, a sentiment echoed by Topper CEO Robin O’Connell, who noted that the partnership aligns with Uphold’s mission to provide modern alternatives to traditional banking. With Topper, users can enjoy higher approval rates and a simplified payment process, further encouraging crypto adoption.

Uphold’s commitment to transparency and security has earned it a reputation as one of the most compliant platforms in the industry. The company uniquely routes orders across 30 trading venues, ensuring optimal execution and liquidity while maintaining 100% reserved assets. This approach not only enhances user trust but also distinguishes Uphold in an increasingly competitive landscape.

While Ledger’s hardware wallets do not require KYC (Know Your Customer) identification for transactions, the integration necessitates KYC checks for on-ramp services provided by Topper. O’Connell emphasized the importance of a streamlined onboarding experience, aiming to validate users efficiently without burdening them with extensive requirements.

As the digital asset landscape continues to evolve, the integration of Uphold’s Topper with Ledger Live represents a pivotal step toward making cryptocurrency more accessible and user-friendly. With ongoing advancements in financial technology, both companies are poised to reshape how individuals interact with money, providing secure and innovative alternatives to traditional banking systems.

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