In a media interview, Chair Paul Atkins pledged to empower businesses to innovate through tokenization. The US Securities and Exchange Commission (SEC) now sees tokenization as an “innovation” to be encouraged in the marketplace, according to Chair Paul Atkins, who pointed to a clear regulatory shift since former SEC Chair Gary Gensler’s tenure ended. “Tokenization is an innovation,” Atkins said in a CNBC interview on Wednesday. “And we at the SEC should be focused on how do we advance innovation in the marketplace.” Atkins contrasted his approach to crypto regulation with his predecessors, saying the SEC had previously hindered innovation through vague laws and “regulation through enforcement.” Read more
BNB Smart Chain’s Maxwell upgrade has ignited the bulls, opening the door for a rally toward new year-to-date highs. Key point: BNB Smart Chain’s Maxwell upgrade has acted as a catalyst in starting an uptrend toward $719. BNB Smart Chain’s Maxwell upgrade, which, according to the BNB Chain team, is “a technical leap forward for faster blocks, better validator coordination, and smoother network performance,” went live on Monday. Read more
The dEURO is overcollateralized by other digital assets such as Bitcoin, Ether and Monero. Cake Wallet added the decentralized stablecoin dEURO to its offerings on Tuesday, expanding its stable of euro-denominated digital assets for users. The decentralized stablecoin is overcollateralized by other digital assets, including Bitcoin (BTC), Ether (ETH) and Monero (XMR), meaning that to mint the dEURO stablecoin, users must first deposit other cryptocurrencies as collateral. Overcollateralizing, or depositing cryptocurrency worth more than the value of the asset being borrowed, acts as a shield against de-pegging events, the dEURO team told Cointelegraph. The dEURO offering also features automatic liquidations, which occur when loan-to-value ratios drop below a certain threshold. Read more
Traders say Bitcoin will benefit from the proposed $5 trillion increase to the US debt ceiling, but data could suggest otherwise. Key takeaways: Historical data fail to show a consistent link between Bitcoin price gains and US debt ceiling increases. Bitcoin’s resilience reflects investors’ belief that the US dollar will continue to lose value due to US domestic fiscal policy. Read more