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Throughout the year so far, the rise of digital assets has shown a notable shift in the financial markets. However, this is not expected to be limited to just cryptocurrencies. Indeed, Robinhood CEO Vlad Tenev has recently said that tokenization may be critical to the United States’ continued financial dominance. In a recent opinion piece authored for The Washington Post, Tenev discussed the growing tokenization trends. Moreover, he shared his belief that the US will lose any competitive edge in financial markets without first establishing clear rules and regulations for tokenized securities. Source: Watcher Guru Also Read: Robinhood and Revolut Consider Launching Their Own Stablecoins Robinhood CEO Says US Will Lost Financial Edge Without Tokenization Clarity The last month has seen a massive shift take place in the United States. With the arrival of US President Donald Trump, the country has shifted its crypto policy. Moreover, Trump has recently said the country will stand as t...

During a recent speech, deputy Treasury secretary Wally Adeyemo urged Congress to support the Biden administration’s efforts to tackle the illicit use of crypto . Adeyemo’s latest call to action comes in the wake of concerns that militant groups like Hamas are exploiting digital currencies to fund their activities. At the Securities Industry and Financial Markets Association’s annual event in Washington, Adeyemo articulated Congress’s need to empower the administration with greater regulatory authority over the crypto sector. He underscored the urgency of this matter by referencing the alleged use of crypto currencies by Hamas, particularly following the Oct. 7 attack on Israel. Adeyemo’s remarks signal a clear intent for legislative action, as he noted, “There are places where we think Congress needs to act.” He further highlighted the ongoing efforts of the Treasury Department to work in tandem with legislators. He called upon the crypt...

Gary Gensler, Chair of the SEC, testified before a Senate Committee regarding his view on crypto and the regulator’s general oversight. On Sep. 12, the US Securities and Exchange Commission (SEC) Chair Gary Gensler appeared before a Senate Banking Committee chaired by Senator Sherrod Brown to testify on his commission’s regulatory oversight and Gensler’s stand on the crypto industry. Sen. Brown opened with scorching remarks about the crypto industry, noting that there are a few millions in losses every day caused by fraudsters and a lack of transparency. “The problems we saw at FTX are everywhere in crypto”, said Brown, referring to FTX’s $8 billion implosion in November 2022 due to risky bets and commingling of customer funds. When asked by the Senate Banking Committee Chair whether compliance with existing financial laws could save American investors from billions lost to crypto fraud, Gensler replied saying:  “If they were to live up to the investor protection b...

Also Read: MicroStrategy Wins Bitcoin Fair Value Vote; XRP Lawyer Sceptical advertisement XRP Donations Along With SpaceX Partner Ripple had officially announced it was joining Isaacman in the XRP and crypto donations project for the Maui Emergency Response Fund. Accordingly, XRP has been added as one of the crypto donations options to charities on The Giving Block, a crypto donation solution provider. The company said, “Ripple will be joining Shift4 CEO Jared Isaacman and the next $50K USD in any crypto donations made to the Maui Relief Fund will be matched 200%.” The partnership involves Donation Matching, which means one party matches the contribution of another party. In this case, Ripple had pledged to match along with Isaacman in contributing double the crypto donations received upto $50,000. Recommended Articles Crypto Presale Projects For ...

Also Read: Curve Finance Says it Will Refund Affected Users in Post-Hack Update advertisement Gemini Co-founder Slams Gary Gensler Reacting to the occasion of the token relisting on the platform, the Gemini co-founder Tyler Winklevoss heavily criticized Gensler for resorting to the anti-crypto enforcement actions. He remarked that clear rules were not provided at a time when the SEC was suing everyone. “$XRP is now available on Gemini. It is important to note how we got here. Instead of creating clear rules for crypto, the SEC has resorted to suing everyone. It lost its case against Ripple and a judge provided clarity when Gary Gensler wouldn’t. America deserves better.” XRP is available for trading with as many as seven fiat currencies USD, GBP, EUR, CAD, SGD, HKD, and AUD. Meanwhile, the XRP price is on a steady downward curve compared to the recent highs it reached following the Ripple lawsuit Summary Judgment on July 13, 2023, when...

Also Read: Binance Announces Support To Terra LUNA Mainnet Upgrade, Price Shoots 10% advertisement Interestingly, this will be the SEC Chair’s public talk just before his appearance before the Senate Appropriations Committee on Wednesday, July 19, 2023. He will be answering on the committee’s review of the fiscal year 2024 budget for the SEC. Gary Gensler Vs Crypto Gensler is popular for his strong anti-crypto stance and his persistence on the ‘come forward and comply’ approach of the US SEC. He is popular among crypto traders for his comments on all cryptocurrencies expect XRP being securities. Yet, the recent Ripple lawsuit judgment that had Judge Torres announcing that XRP was not a security could change a huge deal for the officials at the US SEC. Yahoo Finance journalist Jennifer Schonberger will be exclusively interviewing Gensler later on Monday. Meanwhile, the US SEC will be dealing with the series of spot Bitcoin ETF appl...

Also Read: Elon Musk For US President?: Bitcoin Maxi Balaji Srinivasan Explains Chances advertisement While the Bitcoin price hovers around $31,000 mark, analysts expect the crypto Market to slow down a bit in the next two months before taking off in the last quarter of 2023. The XRP holders have again intensified the demand for having the token back on US exchanges, with the ‘Relist XRP ’ hashtag trending on Twitter. “Another Motive” Behind Not Relisting XRP? Bill Morgan, a crypto enthusiast, said Coinbase had different motives behind not relisting XRP token, while continuing to allow trading of other assets the SEC recognized as Securities. He targeted Paul Grewal, the chief legal officer at Coinbase about the inconsistency in treating the crypto assets. Morgan said Coinbase had ‘another motive’. “Coinbase continues the halt on XRP trading on its exchange while not pausing the trading of other coins and your ow...

The U.S. House Committee explores blockchain and Web3’s future as industry leaders testify on democratizing the internet and regulatory challenges. The United States House of Representatives Energy and Commerce Committee’s Subcommittee on Innovation, Data and Commerce gathered to discuss blockchain technology and the future of Web3 on June 7. Crypto industry members, including Polygon Labs president Ryan Wyatt and several legal experts, appeared before the committee to engage in what transpired to be a constructive dialogue.  This meeting was held just after the SEC announced back-to-back lawsuits against major crypto exchanges Binance and Coinbase. In Wyatt’s testimony, he discussed the potential of blockchain technology and its value to users, and the benefits of building a healthy and well-regulated blockchain ecosystem in the United States. Wyatt began by addressing the fundamental problem blockchains solve — the “value extraction” problem on the internet. He explained that in...

Also Read: Coinbase Derivatives Exchange To Launch BTC, ETH Futures On June 5 advertisement The Summary Judgement in the lawsuit is awaited from Judge Analisa Torres while June 13, 2023 is by when the Hinman speech documents are to be publicly released. XRP Delisting Has No Legal Precedent In the context of Uphold being one of the rare US crypto exchanges to still offer XRP trade, Nancy Beaton, the Chief Revenue and Marketing Officer at the crypto exchange, said there was no legal precedent to follow when it comes to not listing the token. In the recent times, the XRP token holder community has also pushed the same argument while demanding that the exchange list the cryptocurrency on its platform. She added that Uphold would follow it if and when there is a legal precedent. However, she affirmed that there is no legal precedent currently and that they feel comfortable listing the token. “We are highly regulated so we do take compliance incredibl...