Types of cryptocurrency
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Many crypto fans supported Trump over Harris for several reasons. Trump spoke glowingly about crypto this year on the campaign trail, despite casting skepticism upon it for years. At the Bitcoin conference in Nashville in July, Trump floated the idea of establishing a federal Bitcoin reserve, and stressed the importance of bringing more Bitcoin mining operations to the U.S.
While viewed by supporters as a ticket to big returns and financial freedom, Bitcoin and other cryptocurrencies are known for their volatility and have faced government crackdowns in several parts of the world.
Cryptocurrency invest1now.com
According to Hoskinson, decentralized finance on Bitcoin has the potential to “dwarf” the Ethereum and Solana DeFi ecosystems. The Cardano founder also highlighted the potential for hybrid applications that leverage both Cardano and Bitcoin.
In a post on X (formerly known as Twitter), Christensen outlined the next steps for the Sky project. This includes the Sky Aave Force partnership with DeFi lending protocol Aave, in which USDS holders will be able to receive both the USDS Savings Rate and the regular Aave interest rates.
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According to Sky co-founder Rune Christensen, the project is looking to position USDS as a stablecoin for users who are already familiar with Tether, but would like to access a straightforward way of earning rewards on their holdings. Currently, USDS holders are earning a 6.25% APY, and the yield is sourced from the revenue generasted by the Sky protocol.
The first step of the partnership will be the integration of the Bitcoin OS Grail bridge with Cardano, which will allow BTC and other assets on the Bitcoin blockchain to be trustlessly bridged over to Cardano. The Grail bridge employs zero-knowledge cryptography to enable Bitcoin users to transfer their BTC to other blockchains without relying on intermediaries.
Sky was founded under the name Maker in 2014, and the platform’s stablecoin was first launched in late 2017 under the name Dai. Initially, the protocol only supported ETH as collateral. With the launch of Multi-Collateral Dai in 2019, it also became possible to use other forms of collateral. Today, Sky’s stablecoin USDS is backed by a diverse range of assets.
Cryptocurrency regulation sec
The meteoric rise of blockchain technology and its associated digital assets has significantly reshaped the financial landscape across the globe. But, this new and exciting area of untapped economic potential also brings new challenges for regulating crypto currency and crypto exchanges. Regulatory and compliance bodies are struggling to understand the unique features of cryptocurrencies and the risks they bring.
A new administration may advocate for less regulation. When Donald Trump was president, he initially displayed skepticism toward digital assets, branding them a “scam.” Trump appointed Jay Clayton as SEC Chair, and Clayton then took a cautious approach toward crypto asset securities. Clayton oversaw critical regulatory actions, including the SEC’s lawsuit against Ripple Labs over its XRP tokens.
Advisors can address compliance requirements by becoming familiar with the circumstances of these actions and the cases we discuss further below. Below are just some of the recent cases the SEC has brought involving crypto assets and companies:
Multiple financial regulators have developed existing regulations that may apply to crypto assets and allow them to be analogized to traditional assets. Each has a specific focus, set of responsibilities, and jurisdiction.
More seriously, they’ve called the SEC’s standards for classifying crypto as securities “opaque and arbitrary,” arguing that this creates an “untenable” environment for crypto assets. They contend that the commission’s actions haven’t protected investors but instead “intimidated innovators and entrepreneurs.”
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