SEC to appeal Ripple’s victory, Binance aims for growth, PayPal launches stablecoin

Amid ongoing regulatory efforts, the U.S. Securities and Exchange Commission (SEC) is poised to contest Ripple’s recent victory. Binance captures attention with ambitious growth moves, while PayPal introduces its very own stablecoin.

Greater scrutiny in the U.S.

This week, government agencies sought to establish clarity. The Federal Reserve introduced an innovative endeavor aimed at overseeing cryptocurrency operations within banking institutions.

The Novel Activities Supervision program will diligently track activities pertaining to cryptocurrencies, encompassing trading and lending, with a particular emphasis on enhancing the security of stablecoins.

The SEC deferred its decision on the Bitcoin ETF proposal put forth by Ark Invest and 21Shares, with the intention to gather insights from the general populace. The agency chose not to approve nor reject the proposal.

The recent actions undertaken by the SEC garnered considerable public interest, as the commission initiated formal procedures for a definitive verdict. Furthermore, the solicited public input could contribute to the extension of the duration of the ongoing deliberative phase.

Bitstamp and Bittrex reach distinct compromises

Amid the sustained regulatory efforts, crypto exchanges Bitstamp and Bittrex had to reach certain compromises with the SEC.

Luxembourg-based Bitstamp revealed plans to cease trading for seven prominent altcoins in the U.S., effective from Aug. 29.

The altcoins affected by this measure include Axie Infinity (AXS), Chiliz (CHZ), Decentraland (MANA), Polygon (MATIC), Near (NEAR), Sandbox (SAND), and Solana (SOL).

While trading activities are set to undergo temporary suspension, users will still be able to hold and withdraw these assets on Bitstamp. This move is in response to recent assertions raised by the SEC regarding the unregistered securities status attributed to these tokens.

Bittrex and its former CEO William Shihara agreed to pay a $24 million settlement in response to a cas

Go to Source to See Full Article
Author: Wahid Pessarlay

Did you like this?
Tip BTC Newswire with Cryptocurrency