SEC Chair Revealed to be The Driving Force Behind BTC Rally 0 347

SEC Chair Revealed to be The Driving Force Behind BTC Rally

The current chairman of the Securities and Exchange Commission (SEC) is Jay Clayton, but he will be stepping down from his position at the end of the year. Within his tenure, Clayton saw a total of nine Bitcoin Exchange-Traded Funds (ETFs) get rejected. He went on record with CBDC regarding the inefficiencies of the current payment system, which caused BTC’s popularity to surge. He made an appearance on CNBC’s Squawk Box, where he shed some light on the assessment his agency had been regarding Bitcoin. The chairman said that the SEC doesn’t consider Bitcoin to be a security. 

Instead, the regulator regards it as a payment mechanism and as a store of value. As expected, the negative perception of cryptocurrencies that has been taken by the SEC, along with its Chairman, has drawn a lot of criticism from the crypto community as a whole. During Clayton’s time as the chair of the financial regulator, the SEC did keep the crypto industry of a short leash and continued their crackdown, but it appears that Clayton himself is not explicitly against these digital assets, especially when it comes to Bitcoin. As a matter of fact, the man was only concerned about the risks that were associated with Bitcoin ETFs for the average investors, when they decide to make investments in them.

This perceived risk is mostly because the SEC considers some of the notable Bitcoin exchanges in the industry as unregulated. Therefore, it is possible to manipulate the price of Bitcoin within these exchanges, which can inflict a lot of damage on the investors of these exchanges. However, not that Clayton will finally be stepping down from his position as the Chairman of the SEC, there are some in the Bitcoin community who are hoping that the agency will issue their approval for a Bitcoin ETF in the future. 

In fact, even Clayton commented about it and said that Bitcoin would continue to grow and the regulations surrounding it would have to evolve in order to keep up. He explained that there were inefficiencies in the domestic and international payment mechanisms that exist in the US, which has made Bitcoin a popular alternative. He expects to see a continued surge in Bitcoin’s popularity, as the market will mature and regulations relating to digital payments will increase. The Chairman himself was the first member of the SEC to begin issuing warnings about ICO investing and the various pitfalls, which he had done so during the ICO bubble back in 2017. 

He warned the public that these offerings were generally regarded as securities, which meant that they had to be subject to the regulations that accompany them. Bearing this in mind, Clayton said that Bitcoin really wasn’t a security and it was valued more as a payment mechanism and store of value. The difference is simply in the way these crypto-assets are used. Since the SEC is responsible for regulating securities, they have to regulate crypto as well when it is used as securities for raising venture capital. 

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MELT, GTC, PAL, and more Cryptocurrencies among Highest Gainers in Past 24-hours 0 16

In the list of highest gaining cryptocurrencies, the cryptocurrency on the top is Defrost Finance (MELT). In the past 24-hours, MELT has observed a 192.83% surge in its price, surging it all the way up to $11.97 per MELT. Similar to the price surge in the past 24-hours, MELT’s trading volume in the past 24-hours has increased to $1,177,520. MELT is currently the 3220th largest cryptocurrency in the crypto-verse in terms of its $1,401,512 market valuation.

The next cryptocurrency coming after Defrost Finance is Gitcoin (GTC). In the past 24-hours, GTC has observed a 171.08% surge in its price, surging it all the way up to $25.56 per GTC. Similar to the price surge in the past 24-hours, GTC’s trading volume in the past 24-hours has increased to $1,199,791,917. GTC is currently the 264th largest cryptocurrency in the crypto-verse in terms of its $363,625,405 market valuation.

The next cryptocurrency coming after Gitcoin is PlayAndLike (PAL). In the past 24-hours, PAL has observed a 168.43% surge in its price, surging it all the way up to $0.0000016 per PAL. Similar to the price surge in the past 24-hours, PAL’s trading volume in the past 24-hours has increased to $52,540. PAL is currently the 4780th largest cryptocurrency in the crypto-verse in terms of its $144,015,382,197 market valuation.

The next cryptocurrency coming after PlayAndLike is Elonomics ($ELONOM). In the past 24-hours, $ELONOM has observed a 131.06% surge in its price, surging it all the way up to $0.02629 per $ELONOM. Similar to the price surge in the past 24-hours, $ELONOM’s trading volume in the past 24-hours has increased to $212,424. $ELONOM is currently the 3934th largest cryptocurrency in the crypto-verse in terms of its $26,633 market valuation.

The next cryptocurrency coming after Elonomics is ICE ROCK MINING (ROCK2). In the past 24-hours, ROCK2 has observed an 85.68% surge in its price, surging it all the way up to $0.01744 per ROCK2. Similar to the price surge in the past 24-hours, ROCK2’s trading volume in the past 24-hours has increased to $67,982. ROCK2 is currently the 2229th largest cryptocurrency in the crypto-verse in terms of its $274,300 market valuation.

The next cryptocurrency coming after ICE ROCK MINING is India Coin (INDIA). In the past 24-hours, INDIA has observed a 128.93% surge in its price, surging it all the way up to $0.0000006419 per INDIA. Similar to the price surge in the past 24-hours, INDIA’s trading volume in the past 24-hours has increased to $452,332. INDIA is currently the 3571st largest cryptocurrency in the crypto-verse in terms of its $3,975,380 market valuation.

Even more cryptocurrencies are joining the ranks of top gainers and among these cryptocurrencies are KING, ALLBI, HIKO, and many more.

Crypto.com is Now First-Ever Exchange that is now Adhering to SOC 2 Standards 0 17

As per the latest reports, Crypto.com has made an announcement in regards to acquiring a new certification. Crypto.com, one of the most popular cryptocurrency exchanges has announced that it is now in full compliance with the SOC 2 standards. Crypto.com is based in Singapore and it has a global user base.

The exchange has announced that it has successfully acquired the SOC 2 certification after a successful audit. The exchange has announced that it had Deloitte carry out the audit prior to granting certification.

Deloitte is a global consulting firm that has been around since 2015, is based in the United Kingdom. It is spread all over the world, currently providing its services in over 150 countries.

The SOC is reportedly a traditional finance standard that is known all over the world. With the acquisition of the SOC 2 certification, Crypto.com has become the first-ever cryptocurrency exchange to have acquired this recognition.

The SOC 2 certification is granted to traditional financial institutions that are considered highly trustworthy in the financial sector. Prior to the granting of the certification, the operations, policies, and information practices of the company are audited and attested. If the particular company is able to pass all the audits successfully, it is granted the SOC 2 certification.

After the acquisition of the SOC 2 certification, Crypto.com has now become the securest and most trustworthy trading platform or cryptocurrencies. The exchange has even earned the title of being the only cryptocurrency exchange that is now SOC 2 certified.

With the acquisition of the SOC 2 certification, Crypto.com has set a new standard that every major exchange would want to achieve. This will increase the standards of the regulatory framework within the cryptocurrency industry. Now, the major exchanges will be competing with each other in order to acquire the SOC 2 certification.

It is being expected that with the acquisition of the SOC 2 certification, Crypto.com will be able to attract a tremendous number of users.

With the SOC 2 standard in its grasp, the exchange can confidently claim to be offering the most reliable services to users. The exchange can offer high regulatory compliance, privacy, and security to the users.

The CEO and co-founder of Crypto.com, Kris Marszalek, talked about the recent achievement of their company. He stated that with the acquisition of the SOC 2 certification, they are able to prove to the world how well their exchange has been working.

Their exchange has finally achieved a new goal, which is going to increase the competition within the crypto-verse. With the new certification, they are now able to offer a lot more to the users than any other exchange.

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