A group of US blockchain companies, spearheaded by the Crypto Council for Innovation, is calling on the Securities and Exchange Commission (SEC) to offer clear regulatory guidelines for crypto staking. In an open letter, the firms requested the SEC treat staking with the same regulatory clarity afforded to proof-of-work mining. The goal is to provide a stable legal framework for the growing crypto staking industry.
Singapore Gulf Bank (SGB) has introduced SGB Net, a real-time clearing network focused on digital asset transactions for businesses in the Middle East and North Africa (MENA). This initiative aims to resolve challenges in global finance, specifically addressing delays and high costs associated with cross-border transactions. The SGB Net launch represents a move towards more efficient digital asset transfers.
Ethereum co-founder Vitalik Buterin detailed ambitious goals for the network’s 2025 roadmap, coinciding with increased user engagement. The plan emphasizes faster transaction finality, stateless client architecture, improved privacy, and enhanced decentralization. These advancements aim to strengthen Ethereum’s infrastructure and address key areas for future growth and scalability within the blockchain ecosystem.
FIFA, the global football governing body, is developing its own blockchain network compatible with the Ethereum Virtual Machine (EVM). This move involves migrating its NFT platform, FIFA Collect, from the Algorand network. The shift signifies FIFA’s continued investment in Web3 technologies and blockchain for its digital collectibles.
The SEC has postponed decisions on five crypto-related ETF applications, including those from Franklin Templeton, Grayscale, and Bitwise. Bloomberg analysts James Seyffart and Eric Balchunas anticipate final rulings by October. The delays pertain to spot ETFs for Solana (SOL), XRP, Hedera (HBAR), and Dogecoin (DOGE).
The Base layer-2 blockchain has achieved Stage 1 decentralization, becoming the tenth L2 network to do so. This milestone was reached through the implementation of fault proofs and a decentralized Security Council. Fault proofs enable anyone to propose or challenge claims about the network’s state, supported by open-source software and financial incentives for dispute resolution.
A cryptocurrency trader capitalized on recent market gains, turning a $135 investment into $1.2 million within 15 days through a significant return on Terminus (TMNS). Driven by this success, the trader is now seeking to replicate the profits by focusing on the cryptocurrencies MOODENG and RCO Finance, hoping to find the next high-yield investment opportunity in the volatile crypto market.
The UK government is introducing new regulations for the cryptocurrency market, detailed in a draft legislation released on April 29th. The rules, part of a broader “Plan for Change,” aim to bring crypto exchanges, dealers, and custodians, including services like staking and stablecoins, under the supervision of the Financial Conduct Authority (FCA). This move signals an effort to standardize and oversee the crypto industry within the UK, aligning with other financial service regulations.
A wallet associated with the official Donald Trump memecoin project has moved approximately $20 million worth of TRUMP tokens to major cryptocurrency exchanges. On-chain analysis indicates that the wallet transferred 1.346 million TRUMP tokens, potentially impacting the token’s price as it happened amid a trading frenzy. This action has drawn attention to the project’s token holdings and their market activity.
Ethereum developers have decided to remove the EVM Object Format (EOF) from the Fusaka network upgrade. This decision was made after community pushback and concerns regarding technical uncertainties. Tim Beiko, a lead at the Ethereum Foundation, confirmed the removal during a recent developers’ meeting. The change reflects the influence of community sentiment on development decisions within the Ethereum ecosystem.