Category Archives: Cryptocurrency

Is there a cryptocurrency that has maintained a sustained surge in this bearish market? The answer is a yes but look beyond the main tokens.Quant (QNT/USD) is one of them and remains in a defiantly bullish mode.

Quant is an Ethereum-based token that powers the Quant Network. The network was launched to make global information exchange seamless. An overledger functionality on the protocol has helped address interoperability issues for other blockchains. The native token QNT allows digital access to applications and services on the network. Enterprises and developers pay access fees to the Quant Treasury based on the equivalence of the native token QNT.

While large cryptos have overshadowed QNT, it is making a statement with the latest gains. On CoinMarketCap, QNT has added 22.33% in the week, with an intraday gain of 16.56%. Ranked #31 by market cap, the cryptocurrency is the highest gainer among its predecessors. The cryptocurrency has been on a non-stop bullish move for the past one month. The bullish momentum, however, started way back in June. CoinJournal investigates why.

Well, the gains in QNT reflect positive developments. On June 30, Quant announced a tokenisation product tokenise. The product will let developers create digital assets and interoperable tokens on Polygon, Ethereum, and XDC. Again, on August 22, Quant announced a non-fungible token standard, QRC-721, in line with its tokenisation mission.

Lately, Quant issued an update on its Overledger product. The update improved transactions on Ethereum, as well as the functionality of the QRC-721 tokens. There are speculations that Quant could be enjoined in the development of Central Bank Digital Currencies.

eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.

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Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.

Buy QNT with Binance today

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On the weekly chart, QNT trends upwards. The cryptocurrency has overcome resistance at $152 and is pushing higher. The token has more room to move higher because QNTs next resistance lies at $197. An RSI reading of 66 also suggests room for upside

The bullish momentum of QNT makes it attractive in the bearcryptocurrency market. With the strong defiance of the ongoing macro concerns, QNT is a buy toward the $197 resistance. Nonetheless, an attractive entry lies lower, potentially at $152 or $129. Investors should buy the token on clear bullish signs at the mentioned zones.

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Why is Quant (QNT/USD) cryptocurrency rising, and how attractive is it? - CoinJournal

Though initially unthinkable due to high energy expenditure, cryptocurrencies are now trying to bridge the gap between climate and crypto. Climate optimists pulled together in an attempt to adapt new technologies to turn energy-sucking crypto into something more sustainable and green.

On the other hand, other projects are transitioning or have transitioned from a proof-of-work (PoW) into a proof-of-stake (PoS), which nets them the label of more sustainable crypto.

The following three could be deemed as the top 3 green crypto projects in the sea of various crypto projects.

The smart contract behemoth, the second largest crypto, is well known for its decentralized application (dApp) development environment, on top of which numerous other projects were built. With the recent Ethereum Merge, the project moved away from PoW into a PoS protocol, validating transactions by staking.

The Merge reduced the entire networks power draw by an amazing 99.95%, making the entire network low-carbon.

At press time, Ethereum was trading at $1,300.37, up by 1.32% on the day, but down by 3.32% across the previous week, as per CoinMarketCap data.

The branding and marketing for this crypto project focus on positively impacting the environment by utilizing a proof-of-space-and-time protocol. In essence, the protocol plots unused hard drive space used to validate the network.

The project created a green paper detailing their consensus protocol, highlighting that the network uses only 0.16% of Bitcoins (BTC) annual energy consumption.

At press time, XCH was trading at $31.80, up by 0.94% on the day but down by 6.71% in the last seven days, as per CoinMarketCap data.

VeChain is working on green initiatives to drive, among other things, more stakeholder involvement through projects like the one signed with the government of San Marino or delivering the future of safe and traceable food.

The current estimation models by the project see VeChain generating 4.58 metric tons of carbon emissions, equaling emissions generated for mining a single BTC.

At press time, VET was trading at $0.002289, up by 1.49% on the day but down by 2.95% in the last seven days, as per CoinMarketCap data.

Bridging the gap between green investments and crypto could be one of the avenues crypto investors take. The above three projects represent the ones that either reduce or will produce the least CO2 output and could provide a better future for crypto enthusiasts and the planet in general.

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Top 3 green cryptocurrency projects to keep an eye on - Finbold - Finance in Bold

On Thursday (October 13), Yevhen Karpenko, Community Manager for DeFi Investing Platform DEFIYIELD, explained why he believes that Cardano ($ADA) is the best cryptocurrency in the world.

In early February 2022, Kraken Intelligence, the research arm of crypto exchange Kraken, released a 42-page highly impressive researchreport titled Cardano: A new generation in smart contract platform design

Here were some key highlights from Krakens report:

Cardano initially took on notoriety among a class of ICO-craze-driven projects in 2017 following the networks launch. While the ICO-wave gained infamy from the number of overpriced assets that ultimately disappeared into crypto dust, Cardano finds itself among a subset of ICO Warriors that persisted the treacherous perils of a dark and quiet crypto winter bloody, beaten, yet hungry for more...

Importantly, Cardano is very much a value-driven project, emphasizing community governance, academic peer-review, and the importance of high assurance programming...

Cardanos values have noticeably directed the projects developments and design decisions, and as a result, the blockchain looks like it has been designed with the purpose and standards of providing decentralized, global, financial infrastructure rather than only focusing on providing a Web experience...

With ambitious goals, Cardano recognizes the necessity for their infrastructure to run correctly the first time it runs. This is in contrast to a launch now, fix as we go philosophy employed by many Silicon Valley development teams... Ironically, despite the Ethereum Killer label, Cardano is actually far more reminiscent of Bitcoin, particularly with respect to its tokenomics, consensus protocol, and accounting style...

Cardanos design is fundamentally unique among most of its peers particularly as its design closely reflects a PoS-based, smart contract-enabled version of Bitcoin, due to the design of its base protocol and accounting model, rather than an iteration on Ethereum... Cardano saw a massive uptick in adoption starting late 2020 and throughout the course of 2021 Cardano underwent exponential growth in nearly every adoption metric listed, both on-chain and off-chain. There are now nearly 3 million wallets (1348% annual growth) on the network and over I million delegated wallets (870% annual growth).

Yesterday, Karpenko explained why he believes that $DA is the best cryptocurrency:

1. A higher degree of decentralization. The network becomes increasingly decentralized because everyone can become a node validator in Ouroboros. At the moment, there are more than 1500 validator pools in Cardano 2. Faster transactions. Cardano can process more than 250 transactions per second (TPS), compared with around 4.6 TPS for bitcoin and between 15 and 45 TPS for Ethereum 1.0. This makes the Cardano network very scalable

3. More environmentally friendly. Cardano is one of the most environmentally friendly blockchain systems. In a 2021 interview with Forbes, Hoskinson claimed that #Cardano is 1.6 million times more energy-efficient than bitcoin 4. Peer-reviewed network. The Cardano team works closely with academics to generate peer-reviewed research to guide blockchain development. Its nature as an open-source and peer-reviewed blockchain helps ensure its survival and evolution beyond that of its parent organization

5. Cheap gas fees. Additionally, the PoS model allows Cardano to offer nominal transaction fees on its network. The average cost of a transaction on Cardano costs around 0.1 ADA, which equates to a couple of cents. Compare this to the price of Ethereum of $15 per transaction Passive income. finally, every Cardano holder has the opportunity to gain passive income by staking their $ADA coins. The procedure is as simple as purchasing $ADA tokens and locking them up in a wallet such as Yoroi.

On Tuesday (October 11), Charles Hoskinson, Co-Founder and CEO of Input Output Global (aka IOG), the blockchain technology firm behind Cardanos R&D,explained in an interview why he is very bullish on crypto in the long term.

His comments were made during aninterviewwithMaria Bartiromo, the anchor ofMornings with Maria,on American cable TV channel Fox Business Network (FBN).

When Bartiromo asked Hoskinson for his current assessment of the crypto market and how he expected crypto regulation in the U.S. to change, the IOG CEO replied:

Its a tough market. The stock markets are down nine trillion dollars, and the crypto markets dont seem to be immune to that, but, you know, Ive been through seven boom and bus cycles in the last eight years. So, weve gotten pretty used to it. Weve gotten used to volatility, but the fundamentals are still very strong.

All the infrastructure continues to be built. Theres a lot of great exchanges doing wonderful things. A lot of good protocols doing things. So, like all things, its businesses as usual, and most the major actors are still building and still doing interesting things. So, Im overall very optimistic in a long term, but its going to be a rough short term.

Then, when asked about Coinbase receiving regulatory approval to operate in Singapore, Hoskinson said:

Well, the United States has been very difficult, and as a result, a lot of crypto companies are going global and that ultimately it means theyre moving jobs and opportunities outside of the United States, and so unless and until that environment gets better, were going to continue to see this trend where American companies diversify, whether it be Ripple or Coinbase, and its just something that weve had to deal with. But overall, it shows you that the people at Coinbase and others in the industry are quite bullish and optimistic about global growth.

Mitch Roschelle, whois the founding partner of Macro Trends Advisors LLC and who appears regularly as a guest on Fox Business, asked Hoskinson how cryptoassets would be affected by the slowdown in the global economy.

The IOG CEO replied:

I used to believe that crypto would be counter cyclic and the place that people would put assets when they were fearful of the global economy, but so far they seem to be moving in parallel with tech stocks and some of the more standard equity markets. So thats kind of a problem. But all things considered, I think that long term the crypto markets are going to decouple from the traditional marketplaces and have their own economy and, you know, its probably going to occur in the next 24-36 months.

Bartiromo then wanted to know how major blockchain upgrades like the ones that Ethereum and Cardano have had recently improve the ecosystem.

Hoskinson told her:

Well, its just like many of the things that we do. We are a slow and methodical project. Everything we do is all about making things better, faster, and cheaper, and ultimately improving use and utility in the platform. So, Vasil was about 12 months of work, and we just got it out last month, and its really exciting to see that its caused a lot of great positive upgrades in our community.

But more broadly, when we look at the cryptocurrency space, this is the the case. Most people are building, and while the macro environment is not so positive, the individual environment of each cryptocurrency, whether it be Ethereum with the Merge or Cardano with Vasil, is looking better and better every day, and we keep getting more capabilities Theres great growth and everything from GameFi to metaverse to NFTs to DeFi. So, Im very bullish in the long term.

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$ADA: Yevhen Karpenko Explains 'Why Cardano Is the Best Cryptocurrency in the World' - CryptoGlobe

If you are invested in either Frax Share (FXS) or OAX (OAX), chances are you are worried about the recent big price drops.

A brand new token The Hideaways (HDWY) is stealing the limelight thanks to its real-world utility, small market cap and expected price increases during Stage 3 of the presale.

Our recommendation? Invest now before the HDWY token increases in price this Sunday at midnight.

Frax Share (FXS) was one of cryptolands top performing coins just three weeks ago. This is at a time when the market is still seeing some confidence in Terra (LUNA)s protocol, with Frax Share (FXS) playing a huge role in increasing the utility of the depegged Terra Luna UST stablecoins under the 4pool coalition.

Today, we can hardly see any glimpse of recovery for FXS. The token has declined 1.34% in the daily charts, down 7.33% in the last 7 days. With its current price of $4.09, investors who entered the token last month see their investments down by nearly 30%.

Leading todays market losers is OAX (OAX) down 9.32% to $0.34 in the last 24 hours. The token has not performed well for a week in a row, with a 7-day ROI down 13.45%.

Along with the souring sentiment, trading volume had declined to $8.89 million during the day which shows a 35.45% decline from the previous session.

The Hideaways (HDWY) is expected to be among the top-performing cryptocurrencies of 2023 for a number of reasons.

By midnight of Sunday (UTC) The Hideaways (HDWY) will increase its price. You should invest before then if you are interested in making an immediate gain on your investment.

We predict this will be the first of many price rises for this popular project. If it fulfils its potential, we think it could become a top 5 cryptocurrency in 2023, giving investors gains of nearly 11,000%.

Website: https://www.thehideaways.io

Pre-Sale: https://ticket.thehideaways.io/register

Telegram: https://t.me/thehideawayscrypto

Twitter: https://twitter.com/hdwycrypto

Always conduct proper research when dealing with pre-sales of currencies and tokens. The information above does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the website or its staff.

CryptoMode produces high quality content for cryptocurrency companies. We have provided brand exposure for dozens of companies to date, and you can be one of them. All of our clients appreciate our value/pricing ratio.Contact us if you have any questions: [emailprotected] None of the information on this website is investment or financial advice. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. No reviews should be taken at face value, always conduct your research before making financial commitments.

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The Hideaways projected to become Top 5 Cryptocurrency as Frax Share (FXS) and OAX (OAX) Tumble - Crypto Mode

As the cryptocurrency industry continues to expand, more countries and institutions are hopping on the bandwagon, and some of them even want to have their own official digital assets, including one Eastern Caribbean nation.

Indeed, the Commonwealth of Dominica is launching the Dominica Coin (DMC) in partnership with the TRON Protocol (TRX) after the nation passed the Virtual Asset Business Act in its Parliament earlier in 2022, according to TRONs press release on October 12.

The purpose of issuing the coin is to aid in promoting the country as a place with great tourist capacities and its rich natural heritage, driving its economic advancement. Commenting on this development, Dominicas Prime Minister Roosevelt Skerrit explained what it means for his country:

This is a historic step for Dominica in its drive to enhance economic growth by embracing digital innovation and appointing TRON Protocol as its designated national blockchain infrastructure.

Meanwhile, TRONs founder Justin Sun conveyed his teams excitement and optimism over the established partnership, stressing that:

The TRON team and myself are delighted that Prime Minister Roosevelt Skerrit trusts TRON to develop the blockchain infrastructure that will empower their participation in the decentralized financial future. () We hope it is the first of many technological partnerships with sovereign governments to come.

It is worth noting that the partnership between the blockchain and the Caribbean state has also brought the official approval of TRON-issued digital currencies as medium of exchange in Dominica.

As Justin Sun stated on Twitter, all digital assets issued on the TRON blockchain have been granted statutory status as authorized digital currency and medium of exchange in Dominica, also posting an official document that proves it.

In the meantime, the total number of transactions on the TRON blockchain has recently surpassed 4 billion after rumors started of its founder being the real buyer of crypto exchange Huobi, whereas Justin Sun himself announced his appointment as a member of the exchanges Global Advisory Board.

Originally posted here:
TRON selected to issue Dominica's national cryptocurrency - Finbold - Finance in Bold

Litecoin's LTC/USD price has decreased 3.95% over the past 24 hours to $50.18, continuing its downward trend over the past week of -9.0%, moving from $54.24 to its current price.

The chart below compares the price movement and volatility for Litecoin over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has climbed 31.0% over the past week, moving opposite, directionally, with the overall circulating supply of the coin, which has decreased 0.62%. This brings the circulating supply to 71.38 million, which makes up an estimated 84.97% of its max supply of 84.00 million. According to our data, the current market cap ranking for LTC is #22 at $3.58 billion.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Cryptocurrency Litecoin Down More Than 3% Within 24 hours - Litecoin (LTC/USD) - Benzinga

As Hong Kong gears up for the most awaited FinTech week, the citys government might reveal its stance on cryptocurrencies and thus, decide the future of the industry.

The officials are reportedly planning to introduce a new policy statement on cryptos to clarify and display its vision of developing Hong Kong into an international virtual assets hub.

The Fintech week, which will focus on Web3 and the metaverse, will be held from October 31 to November 4. During this event, the Securities and Futures Commission will provide a clear perspective to the global markets on virtual assets.

Christopher Hui Ching-yu, Secretary for Financial Services and the Treasury commented on the decision:

The Fintech Week will, for the first time, issue 2,000 NFTs with utilities to participants for claiming perks like ticket discounts for next years event.

As per organizers, some 20,000 physical and virtual attendees are expected in the upcoming event this year.

Notably, the Hong Kong FinTech Week collides with major events, namely, the Singapore FinTech Festival, which will take place from November 2 to 4, and the three-day-long Global Financial Leaders Investment Summit spearheaded by the Hong Kong Monetary Authority.

The significance of the move can be gauged by the governments relentless efforts to bring back fintech start-ups that have left Hong Kong because of the citys strict Covid-related travel control steps. The major exodus was undermining Hong Kongs position as a cryptocurrency industry hub, local investors said.

In September, the citys government revealed that more than a dozen potential companies are interested in security token offerings and the Fintech Week might be a great start for other firms too.

The post Hong Kong To Decide Future of Cryptocurrency in Fintech Week appeared first on Coin Edition.

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Hong Kong To Decide Future of Cryptocurrency in Fintech Week By CoinEdition - Investing.com

Supontis (PON) and Dogecoin (DOGE) are two very different coins.

One is a technical cryptocurrency created to improve the cross-chain transfer of various digital currencies like Ethereum, Binance, and Tron. The other is a meme coin that prides itself on seamless peer-to-peer transactions and a lively community.

Nonetheless, both have one thing in common. They are part of a growing change in the crypto economy that is not entirely focused on financial gain.

Because traditionally, investors immersed themselves in the crypto universe for the sole purpose of making a healthy return in the future.

And if you look at the trajectory of Bitcoin (BTC), the masses had a point. Less than one year ago, Bitcoin peaked at $67,549.74. This means that savvy investors who exchanged Bitcoin for fiat during this time walked away with a huge profit.

Indeed, the goal of making money from crypto is unlikely to cease. But its fair to say that not all crypto geeks are actively looking to withdraw their finances. In actuality, some people want a bit of crypto to remain in their wallet for trading or communal purposes.

The interesting predicament now is, which type of modern crypto will trend in the market for the longest time? Will investors continue to gravitate towards meme currencies or will more technical coins be better off in the long run?

Dogecoin is statistically the most popular meme coin of all time. At the time of writing, it is ranked number 10 on coinmarket and possesses a market cap of $7,915,648,509.

Its funny how Dogecoin started as just a meme. No one in the crypto world expected it to become so lucrative until an extremely rich and famous dude known as Elon Musk, decided to tweet about the coin in April 2019 and the rest is history.

Dogecoin undoubtedly gained a massive boost from the multi-billionaire. Nevertheless, the coin deserves credit for offering its users enough value from super fast and cheap transactions to keep them invested.

In contrast to Dogecoin, Supontis was not invented as a meme.

The cryptocurrency consists of a bridge platform that is built on the BNB Smart Chain and facilitates the cross-chain transfer of different assets. This is ideal for crypto nerds who like to seamlessly move their coins from one market to another.

But this is just the tip of the Supontis tsunami. Supontis also provides its users with a high level of security, extremely fast transactions, and low transaction costs.

Supontis quick transaction speeds are particularly notable as this allows it to compete with the likes of Dogecoin and Solana.

Final Thoughts

Supontis and Dogecoin both represent coins that deviate away from cryptocurrencys original concept.

You only need to look at Dogecoins market cap to see that it has no shortage of investors. However, the currency is experiencing a downward trend which could imply that individuals are moving away from meme coins.

Meanwhile, Supontis is still very new on the crypto scene and may have better potential. After all, with crypto on the rise, the need for easy and smooth exchange between different currencies is becoming more crucial.

If you would like further information about Supontis, check out the links below:

Presale: https://register.supontis.com

Website: http://supontis.com/

Telegram: https://t.me/SupontisTokenOfficial

Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.

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Supontis vs Dogecoin, Which Cryptocurrency Has Greater Longevity In The Market? - Coinpedia Fintech News

Russian users BANNED from top cryptocurrency platform and told to withdraw funds ASAP. Image: Production Perig/Shutterstock.com

Notifications from users of the cryptocurrency platform have been shared on social media on Friday, October 14, with the screenshots showing that all accounts will be blocked from October 28.

The notification reads: As a result of EU sanctions, Blockchain dot com is currently restricted from providing custodial and rewards services to Russian nationals.

Please withdraw your custodial funds (including rewards) by October 27, 2022, after which date your account will be locked. Effective immediately, rewards accruals are now blocked, but can still be withdrawn by October 27.

@Flash_news_ua shared the news alongside an image of a users notification.

Today, Blockchain coms cryptocurrency platform stopped working with Russian users,

Users of the exchange began to receive reports that the site could no longer provide storage and remuneration services due to new EU sanctions. All accounts will be blocked from the 28th.

Today, Blockchain coms cryptocurrency platform stopped working with Russian users.

Users of the exchange began to receive reports that the site could no longer provide storage and remuneration services due to new EU sanctions. All accounts will be blocked from the 28th. pic.twitter.com/Kn7TDlF9Os

FLASH (@Flash_news_ua) October 14, 2022

Earlier this year, US President Joe Biden signed an executive order to prevent Russia from using cryptocurrency to evade sanctions.

Thank you for taking the time to read this article, do remember to come back and checkThe Euro Weekly Newswebsite for all your up-to-date local and international news stories and remember, you can also follow us onFacebookandInstagram.

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Russian users BANNED from top cryptocurrency platform and told to withdraw funds ASAP - Euro Weekly News

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The Securities and Exchange Commission (SEC) and other U.S. market regulators are getting serious about reigning in the crypto market.

But there is one big unsettled question central to their goals: Is cryptocurrency a security?

The latter half of the crypto portmanteau belies the dilemma: currency, a deliberate choice by the movements founders, underscoring their ambition to supplant fiat currencies as both a store of value and a means of exchange.

Its fair to say that since Bitcoin (BTC) launched in January 2009, crypto has become the Wild West of financial markets. In the past, its decentralized nature kept it from the prying eyes of governments and other regulatory bodies.

Cryptos lack of oversight is the very thing thats so compelling for many enthusiasts. But with few regulations in place, the doors are wide open to nefarious actors who prey on naive investors.

The May crash of stablecoin TerraUSD wiped out more than $600 billion in value and caused a rash of insolvenciesnot to mention deepening the crypto winter. The Biden administration responded by outlining a framework for crypto development that included nods in the direction of crypto regulation.

Lets look at the state of play in crypto regulationand see if we get clarity on whether or not crypto is a security.

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SEC Chair Gary Gensler is on record voicing his displeasure with the current state of crypto regulation

Gensler famously said in June that crypto exchanges that dont cooperate with the SEC are operating outside of the law and may be at risk of enforcement action.

At the heart of Genslers pitch for making the SEC the sheriff of crypto is the argument that cryptocurrencies are securities.

But what are securities? The Securities Act of 1933 and the Securities Exchange Act of 1934 lay out the definition of a security in painful detail. But a more helpful guide can be found in the Howey Test.

The Howey Test comes from a 1946 Supreme Court ruling in the SEC v. W.J. Howey Co., which has been reaffirmed in the courts several times. Under the Howey Test, a transaction is considered to be a security if it meets the following four criteria:

Promoters are marketing and the investing public is buying most of these tokens, touting or anticipating profits based on the efforts of others, Gensler said in a Sept. 8 statement.

In a recent appearance on CNBC, he reiterated his case on crypto. The law is clear. I believe based on the facts and circumstances most of these tokens are securities, he said.

And that means those cryptos must be registered with the SEC under federal laws for securities.

The SEC announced in May that it was nearly doubling its Crypto Assets and Cyber Unit in May. Since then, the SEC, Commodity Futures Trading Commission (CFTC) and Department of Justice (DOJ) have become more active with crypto enforcement. Take a look at some of the laundry list of charges:

Bloomberg reported that the SEC was investigating popular crypto exchange Coinbase (COIN) for allowing users to trade unregistered securities. The SEC also filed an insider trading complaint against a former Coinbase product manager and identified nine cryptocurrencies as securities, and Coinbase insists it doesnt list securities.

Two additional cases have been particularly high-profile in the recent regulatory crypto enforcement actions.

In early October, reality TV star and social media influencer Kim Kardashian agreed to pay a $1.2 million settlement to the SEC tied to charges that she failed to disclose compensation she received for promoting crypto asset EthereumMax on Instagram in June 2021. The SEC fine was over four times more than what she made from the promotion.

Based on the penalty doled out to Kardashian, the SEC might be more interested in the visibility of its crypto crackdowns.

The other major ongoing cryptocurrency regulatory battle is in the courtroom between the SEC and Ripple (XRP) over the sale of its cryptocurrency XRP.

The SEC has brought charges against Ripple, alleging that the companys sales of XRP are illegal securities offerings and that they raised over $1.3 billion through an unregistered, ongoing digital asset securities offering.

Ripple counters the accusation, claiming XRP is a virtual currency, not an investment contract, and therefore not subject to SEC securities laws.

Gordon Allott, CEO of BroadPeak Partners, says the Ripple case should be settled soon and taking on the SEC is an uphill battle. What you do with your crypto can turn it into a security. If you use crypto issuance to fund your operations, it will get the SECs attention.

Attorney William Powers, a partner at Nossaman, said that the Stop Trading on Congressional Knowledge Act of 2012, otherwise known as the 2012 STOCK Act, could provide crypto investors with insight into where Congress stands on the issue.

The 2012 STOCK Act requires all members of Congress to publicly disclose transactions of stocks, bonds, commodities futures, and other forms of securities within 45 days on their websites.

The U.S. House and U.S. Senate ethics guidance explicitly calls for members of Congress to disclose cryptocurrency transactions, seemingly implying that they are classified under the STOCK Act as other forms of securities.

Several members of Congress have subsequently disclosed their crypto trades.

These disclosures demonstrate that there appears to be consensus that cryptocurrencies are considered a type of security covered under the STOCK Act, at least when it comes to trading by members of Congress, Powers said.

Currently, U.S. crypto regulations future remains in the air as regulators continue investigating the market and determining the best path forward.

The U.S. Treasury Dept. is expected to complete an illicit finance risk assessment on decentralized finance (DeFi) and non-fungible tokens (NFTs) in early 2023. Meanwhile, Gensler has asked SEC staff to fine-tune compliance for crypto security tokens.

But more regulations may not necessarily be bad for crypto investors, some experts say.

Having cryptocurrency regulations in place would mean that projects, exchanges, and all cryptocurrency-related businesses are held to a higher standard and as such, are beneficial to investors. Additionally, it protects investors interest, allowing for legal recourse against crypto scams and projects that breach these regulations, says Bobby Ong, co-founder and chief operating officer of CoinGecko.

But Jeremy Wagner, financial analyst at Trading Pedia, says crypto regulation will also cost crypto enthusiasts. More regulation could also lead to more restrictions on how cryptocurrencies can be bought, sold, and used. Additionally, more regulations could make it more difficult for innovative new projects to launch in the cryptocurrency space.

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SEC and Crypto: Is Cryptocurrency A Security? - Forbes