Everything web3, crypto, defi, degen
In brief SEC Chair Paul Atkins announced a major shift in crypto strategy, stating the regulator will no longer pursue “regulation by enforcement” against crypto projects, and wants to “embrace innovation.” Atkins launched “Project Crypto,” an initiative to attract crypto businesses to the U.S. by offering tailored disclosures, exemptions, and safe harbors for various crypto…
In brief Sen. Tim Scott (R-SC) said Tuesday that fewer Senate Democrats might support the upcoming crypto market structure legislation than voted for the GENIUS Act earlier this year. The Senate Banking chair said Sen. Elizabeth Warren (D-MA) has been a key obstacle to getting more Democrats onboard for the far-reaching bill. Warren warned last…
In brief Wyoming’s Frontier Stable Token debuted on seven networks, including Ethereum, Solana, and Avalanche. The token could offer a yield in the future, while funding local education. It could theoretically be issued on more than 110 networks through LayerZero. Wyoming’s stablecoin debuted across seven blockchains on Tuesday, a new milestone for the Cowboy State…
In brief Powerful crypto companies including Coinbase, DCG, Kraken and Paradigm are teaming up with top lobbyists to introduce a new nonprofit focused on educating policymakers about decentralized technologies. As a 501(c)(3), the American Innovation Project (AIP) will enjoy key benefits including tax exempt status and limited liability for operators and participants. By law, however,…
In brief Hyperliquid (HYPE) and SUI led losses among major altcoins as Bitcoin’s correction from $118,000 to $115,000 triggered widespread liquidations. The selloff comes ahead of Thursday’s Jackson Hole Economic Symposium, with analysts noting funding rates had been “warning of trouble” and higher-than-expected PPI data forcing markets to scale back September rate-cut expectations. Analysts called…
For many years, the idea that publicly traded corporations might buy Bitcoin for their reserves was considered laughable. The top cryptocurrency was considered too volatile, too fringe to be embraced by any serious business.That taboo has been well and truly broken, with a number of major institutional investors buying up Bitcoin in recent years.The floodgates…
In brief New York State Assemblymember Phil Steck proposed a 0.2% excise tax on cryptocurrency transactions. He estimates that the tax would generate $158 million annually, based on Chainalysis data from 2022 to 2023 and recent GDP statistics. The revenue would help combat substance abuse in upstate New York. New York Assemblymember Phil Steck introduced…
In brief The Uniswap Foundation published a proposal for Uniswap Governance to become a Wyoming Decentralized Unincorporated Nonprofit Association (DUNA). The Cowboy State enacted the legal framework for DAOs last year. It would allow Uniswap Governance to operate with greater legal clarity, Uniswap Foundation General Counsel Brian Nistler said. The Uniswap Foundation published a proposal…
In brief The Wyoming Stable Token (WYST) won’t initially offer a yield, but there is support for enabling the feature later, Wyoming State Senator Chris Rothfuss said. Wyoming’s Select Committee on Blockchain urged the Commission issuing WYST to “resist pressure to act as a political or financial gatekeeper.” The GENIUS Act’s passage could increase crypto…
In brief Three states have passed laws enabling Bitcoin reserves to date. Several efforts in other states have failed over concerns about volatility and public fund safety. Proposals are still pending in 17 more states as crypto advocates push for wider adoption. As random companies snap up Bitcoin and Donald Trump hails the creation of…
