Ethereum could be considered a security post-Merge, Whitehouse releases crypto regulatory framework
The biggest news in the cryptoverse on Sept. 16 included the crypto community arguing that ETH could be considered post-integration security, the White House releasing a framework for crypto regulation, and US banks issuing SEC guidelines. This includes pausing your crypto lending plans in the midst of challenging yourself. Celsius is seeking approval to sell $23 million worth of stablecoin assets.
CryptoSlate Top Stories
Debate rages on whether Ethereum should be considered post-integration security
SEC Chairman Gary Gensler said cryptocurrencies that allow staking are: howie test.
Ethereum’s successful move to a PoS network has raised concerns among some members of the cryptocurrency community that ETH could be seen as a security and attract undue regulatory attention.
Others argued that technical differences between PoW and PoS are no reason to classify ETH differently.
The White House Announces First Framework For Crypto Regulation
long awaited framework release Today, we made recommendations on issues related to regulating cryptocurrencies, cracking down on cryptocurrency fraud, and isolating the broader economy from future contagion in cryptocurrency markets.
The White House also hinted at the feasibility of developing a digital dollar to create a more efficient payment system that brings the financial services industry closer to par.
Once the merge is complete, all eyes will be on Cardano’s Vasil upgrade
Cardano’s Input Output (IO) has released an ecosystem readiness update that reaffirms that the network is ready for the Vasil hard fork on September 22nd.
The Vasil hard fork improves Cardano’s network performance by increasing throughput and script efficiency and reducing block transfer latency.
Reuters reports that the U.S. Central Bank is suspending plans to lend cryptocurrencies as it challenges SEC guidelines.
According to recent SEC guidelines, crypto assets held by public companies must be accounted for as liabilities.
To this end, central U.S. banks such as Bancorp and State Street are delaying the completion of crypto custody services as they need to hold more cash to cover their crypto debt.
Celsius seeks court approval to sell $23 million worth of stablecoin assets
Celsius Network holds approximately $23 million in 11 stablecoins. A bankrupt cryptocurrency lender has asked a court to allow it to sell its stablecoins in US dollars.
Celsius chose to sell its stablecoin in order to generate more liquidity to fund its business operations.
research highlights
Bitcoin fell below major moving averages five times
Data analyzed by CryptoSlate shows that Bitcoin fell below the 60-, 120-, 200-, 360-, and 720-day moving averages five times.
Implicitly, the current BTC price is at a bearish low.
News around Cryptoverse
ECB Prepares to Launch Digital Euro
The European Central Bank (ECB) has selected Amazon, CaixaBank, Worldline, EPI and Nexi to develop a digital euro prototype.
This prototype will help ECB develop user interfaces suitable for different segments of target users.
Grayscale Investment Launches ETHPOW Token Sale
Two funds owned by Grayscale Investments received 3,100,629 ETHPoW tokens as an airdrop. The company has announced its intention to sell the token once trading liquidity for ETHW is developed.
Binance accidentally allocated $20 million in Helium HNT tokens.
Binance mistakenly sent 4.8 million HNT tokens instead of Helium’s secondary token, MOBILE. An accounting error cost the cryptocurrency exchange about $20 million.
Osmosis co-founder questions the effectiveness of ETH staking post-merger
Osmosis co-founder Sunny Aggarwal said Ethereum’s staking design model, which limits withdrawals, is impractical.
He added that the inability of users to withdraw their staked ETH contributes to the widening deviation of Lido’s stETH price from the underlying ETH.
crypto market
Bitcoin is flat today, Sept. 16, down just -0.01% over the past 24 hours. Bitcoin price hovered around $19,700 throughout the day, while Ethereum fell -2.7%, trading at $1,438.41.
