In an unprecedented move, the U.S. SEC has classified a non-fungible token (NFT) as a security, underlining the regulatory complexities as crypto technologies evolve. The incident serves as a warning to crypto projects, revealing that despite the inherent freedom within the crypto landscape, invisible chains bound them when engaging in regulated activities.
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Ripple’s Bid for Crypto License in UK & Ireland: A Strategic Move or a Cause for Concern?
Ripple, the blockchain-based digital payment network, has applied for a crypto asset firm registration in the UK and a payment institution license in Ireland following its partial legal victory against the US Securities and Exchange Commission. Despite skepticism about the clarity of the ruling, Ripple continues growing in Europe.
An Unexpected Twist: XRP and XLM Outperform Bitcoin and Ether Amid Legal Uncertainties
“Despite regulatory uncertainties, altcoins XRP and XLM outperformed Bitcoin and Ether, rising by 6.8% and 18% respectively. This unexpected surge reflects the oscillatory nature of crypto markets and reveals increasing interest in altcoins. However, legal ambiguities surrounding crypto status could pose both opportunities and challenges for crypto organizations.”