United States President Joe Biden has vetoed a resolution aimed at overturning the U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin (SAB) No. 121.
This controversial decision has drawn immediate criticism from the cryptocurrency industry.
“We’re disappointed that the admin chose to overrule bipartisan majorities in both Houses of Congress who recognized the harm created by SAB 121,” stated the Blockchain Association in a May 31 X post, following Biden’s argument that opposing the guidelines would undermine the SEC’s authority.
“This reversal of the considered judgment of SEC staff in this way risks undercutting the SEC’s broader authorities regarding accounting practices,” Biden wrote in an official May 31 letter.
The letter was in response to Congress’s vote to repeal the cryptocurrency accounting guidelines, which require institutions that custody crypto assets to record these holdings as liabilities on their balance sheets.
“My Administration will not support measures that jeopardize the well-being of consumers and investors,” Biden added.
READ MORE: PayPal Expands Stablecoin to Solana, Introduces Confidential Transfers
Lawmakers in the House of Representatives voted to repeal the SEC’s guidance by a margin of 228 to 182, subsequently passing the bill to the Senate.
Senators echoed the House’s sentiment, voting to repeal SAB-121 with a significant margin of 60-38 votes.
The broader crypto community expressed frustration on social media, arguing that the decision stifles innovation and hinders the industry’s progress during a critical time.
“This is a slap in the face to innovation and financial freedom,” stated Digital Chamber chief policy officer Cody Carbone in a May 31 X post.
“To say that this is incredibly disappointing from this White House – at an incredibly pivotal time – is an understatement,” Ripple CEO Brad Garlinghouse added.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Eminem’s Spaghetti could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Eminem’s Spaghetti (EMINSPAG), a new Solana memecoin that was launched today, is poised to explode over 14,000% in price in the coming days.
This is because EMINSPAG has announced its first centralized exchange listing, which will be on KuCoin.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Eminem’s Spaghetti can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Eminem’s Spaghetti could become the next viral memecoin.
Eminem’s Spaghetti launched with over $6,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Eminem’s Spaghetti on Raydium or Jupiter ahead of the KuCoin listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Eminem’s Spaghetti by entering its contract address – 2ZWPydBxNByXx8D7m2h8CiFkMpjgMWTsrztXLhw1bohd – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like EMINSPAG.
Bitcoin drawing inspiration from another blockchain may seem unlikely since it was the pioneer. Bitcoin inspired Litecoin, Dogecoin, Monero, and Ethereum, among others.
However, over the past 15 years, the industry has evolved significantly.
While Bitcoin’s dominance remains, the focus has shifted from simple “buy and hold” strategies to various methods of deploying digital assets for yield, revenue, and entertainment.
Most of this innovation has come from Ethereum and its multi-token, multi-chain ecosystem. Now, the trend is swinging back to Bitcoin.
With the introduction of layer-2 solutions, native tokens, nonfungible tokens (NFTs), and decentralized finance (DeFi) protocols, Bitcoin has the potential to see significant growth in active users, total value locked (TVL), and active wallets.
Can Bitcoin replicate the growth Ethereum saw in 2017 and 2020, driven by initial coin offerings and DeFi? By adopting certain features of Ethereum, Bitcoin could experience exponential growth.
A key feature is interoperability. Ethereum’s success with multi-tokenism is partly due to universal standards like ERC-20s, which are easily transferable between EVM chains.
Bitcoin, however, faces issues with competing token standards and inscription methods, making its ecosystem more complex.
Bitcoin has several competing token issuance standards and a complex L2 ecosystem. Stacks is the largest Bitcoin L2, followed by the Lightning Network, among many others.
For Bitcoin to become a hub for DeFi, NFTs, real-world assets (RWAs), and other on-chain uses, it needs to adopt universal standards that facilitate seamless value transfer between chains.
If Bitcoin developers collaborate instead of working in isolation, its ecosystem could grow significantly across metrics like daily active users and TVL.
Bitcoin’s TVL of $1.15 billion is far behind Ethereum’s $65 billion.
READ MORE: Robinhood Approaches Settlement with Investors Over 2021 Meme Stock Trading Halt
However, Bitcoin’s current TVL is similar to Ethereum’s just before “DeFi summer,” suggesting potential for rapid growth.
In 2016, Ethereum’s ICO craze began, and by 2017, over 75% of crypto assets were based on Ethereum. By 2020, Ethereum shifted focus to DeFi and NFTs.
Although Ethereum’s NFT sector has declined, Bitcoin Ordinals have gained traction, indicating a rebranding rather than a decline in NFTs.
The rise in BRC-20 tokens and network activity suggests Bitcoin could see similar growth patterns to Ethereum in 2018. With over 14,000 tokens built on Bitcoin, user perception of BTC’s value increases.
Bitcoin might be on the verge of a parabolic breakout, with BRC-20 tokens’ market cap exceeding $2 trillion and significant growth in inscriptions.
Bitcoin developers should learn from Ethereum’s innovations to foster exponential growth. Despite potential regulatory challenges, even modest growth could significantly increase Bitcoin’s value.
By adopting successful strategies from Ethereum, Bitcoin could transform into the world’s largest multi-token ecosystem by 2025.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Early investors in memecoins like Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) made astronomical returns, and Putin Boss (PUTINBO) presents a similar opportunity for a limited time.
Putin Boss (PUTINBO), a newly launched Solana memecoin, is poised to explode over 14,000% in a matter of days, as former Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) investors pour funds into this new token.
PUTINBO will be listed on KuCoin, one of the largest centralized exchanges in the world, within a few days – and this is a massively bullish development for the token, as millions of new investors will easily be able to buy Putin Boss.
Currently, Putin Boss can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy PUTINBO on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Putin Boss by entering its contract address – 34bBAvQ8kkQrP3LPVcmhLQKY9UJNUkK3dtq42m7DD7Ru – in the receiving field.
PUTINBO currently has a market cap of just under $10,000, with over $4,000 in locked liquidity, meaning it has huge upside potential.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB), Dogecoin (DOGE) and Bonk (BONK) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
Early investors in memecoins like Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) made astronomical returns, and Black Doge (BLADOGE) presents a similar opportunity for a limited time.
Black Doge (BLADOGE), a newly launched Solana memecoin, is poised to explode over 14,000% in a matter of days, as former Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) investors pour funds into this new token.
BLADOGE will be listed on KuCoin, one of the largest centralized exchanges in the world, within a few days – and this is a massively bullish development for the token, as millions of new investors will easily be able to buy Black Doge.
Currently, Black Doge can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy BLADOGE on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Black Doge by entering its contract address – 2PE8dLsJa64vymp3RU35wdFYataxZC6dA2rx162CF7pu – in the receiving field.
BLADOGE currently has a market cap of just under $10,000, with over $4,000 in locked liquidity, meaning it has huge upside potential.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB), Dogecoin (DOGE) and Bonk (BONK) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
Financial innovators are taking a long-term approach with the United States Securities and Exchange Commission (SEC), which Franklin Templeton’s head of digital assets, Roger Bayston, deems appropriate.
“The SEC, like a lot of regulatory bodies, likes to rely on legal precedents. […] Those precedents are being set in courts of law oftentimes, so this is just the process we’re engaged in,” Bayston told Cointelegraph’s Turner Wright at the Consensus event.
Despite skepticism about the SEC’s “open door” policy, Bayston viewed the agency’s actions as protecting the economy and manageable:
“We wouldn’t be in the business for 76 years — the business of trust — if we didn’t have some discipline and persistence and collaborative behavior with the global regulators we face.”
Bayston noted that things are evolving at the SEC, comparing this year to last. “We’ve been pleasantly engaged with the SEC […] and we’re excited as they shift and change their tone,” he said.
Franklin Templeton launched its Franklin OnChain U.S. Government Money Fund (the “Benji”) in 2023, but the journey took nearly five years, involving educating the SEC on blockchain technology’s role in mutual funds.
Bayston likened tokenized money funds to stablecoins.
The saver provides money to the operator, who invests it and returns the principal while keeping the profit from the investments.
“Banks and money funds have existed side-by-side for multiple decades.
“I think this is the same construct that is likely to move forward,” Bayston said.
Franklin Templeton is optimistic about cryptocurrency, according to Bayston:
“We believe in the technologies and therefore we believe that the [crypto] tokens, properly structured, represent value for these technologies.”
He compared crypto’s significance to investment portfolios to that of technology stocks 30 years ago.
Franklin Templeton filed its application with the SEC for a spot Ether exchange-traded fund later than others.
Initially, the SEC delayed a decision on the application until June 11 but approved it along with others on May 23.
Bayston was not surprised by the timing. They were “not trying to give anybody an advantage in this nascent marketplace,” he said.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Devil Biden (DEVBIDEN), a new Solana memecoin that was launched this week, is poised to explode over 14,000% in price in the coming days.
Currently, Devil Biden can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Devil Biden could become the next viral memecoin.
In fact, many early Shiba Inu and Dogecoin investors have been pouring funds into this new Solana memecoin.
Devil Biden launched with over $6,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Devil Biden on Raydium or Jupiter ahead of the KuCoin listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Devil Biden by entering its contract address – Hu1cFazfpaEFyJ3ETdotpTSBModCC4pJoCvVyLNiTKm7 – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like DEVBIDEN.
Early investors in memecoins like Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) made astronomical returns, and Black Doge (BLADOGE) presents a similar opportunity for a limited time.
Black Doge (BLADOGE), a newly launched Solana memecoin, is poised to explode over 14,000% in a matter of days, as former Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) investors pour funds into this new token.
BLADOGE will be listed on KuCoin, one of the largest centralized exchanges in the world, within a few days – and this is a massively bullish development for the token, as millions of new investors will easily be able to buy Black Doge.
Currently, Black Doge can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy BLADOGE on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Black Doge by entering its contract address – 2PE8dLsJa64vymp3RU35wdFYataxZC6dA2rx162CF7pu – in the receiving field.
BLADOGE currently has a market cap of just under $10,000, with over $4,000 in locked liquidity, meaning it has huge upside potential.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB), Dogecoin (DOGE) and Bonk (BONK) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
This summer, crypto scammers are aggressively targeting Canadians on dating apps and websites.
Unfortunately, many people looking for love are suffering significant financial losses.
The Canadian Anti-Fraud Centre (CAFC) has identified a surge in two specific types of crypto scams targeting Canadians: romance scams, also known as pig butchering, and investment scams.
In response, the CAFC and the Canadian Investment Regulatory Organization (CIRO) issued a joint warning about these sophisticated scams, “particularly those involving extended online communication.”
Scammers typically approach potential victims on dating platforms, convincing them to switch to private messaging services.
Authorities caution Canadians to be suspicious of individuals who discuss crypto trading or investments.
“Fraudsters may try to befriend the victim, develop an online romance, or pose as legitimate investment advisers.
“Over time, the scammer will suggest investing in an opportunity, often involving crypto assets,” the warning states.
Victims are often lured into crypto investment schemes promising unrealistic returns.
They are directed to sign up on fraudulent investment platforms created by scammers.
Initially, victims can withdraw small amounts to make the scheme appear legitimate, but eventually, their funds are locked out once their identity is compromised.
READ MORE: AI Project Worldcoin Faces Scrutiny Over Biometric Data Collection Amid Privacy Concerns
Canadians are encouraged to report such fraud incidents to the CIRO, CAFC, and local police.
In 2023, Canadians lost $309.4 million to known investment frauds, with $172 million stemming from social media-related scams alone.
Canada is preparing to implement the international Crypto-Asset Reporting Framework (CARF) for taxation by 2026, as outlined in a supplement to the 2024 annual budget.
The CARF will introduce new reporting requirements for crypto asset service providers (CASPs), such as cryptocurrency exchanges, brokers, dealers, and automated teller machine operators, whether they are individuals or business entities.
The report lists “stablecoins, derivatives issued in the form of a crypto-asset, and certain nonfungible tokens” as examples of crypto assets.
“Crypto-asset service providers would be required to obtain and report information on each of their customers, including name, address, date of birth, jurisdiction(s) of residence, and taxpayer identification numbers for each jurisdiction of residence,” the report states.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Devil Biden (DEVBIDEN), a new Solana memecoin that was launched this week, is poised to explode over 14,000% in price in the coming days.
Currently, Devil Biden can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Devil Biden could become the next viral memecoin.
In fact, many early Shiba Inu and Dogecoin investors have been pouring funds into this new Solana memecoin.
Devil Biden launched with over $6,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Devil Biden on Raydium or Jupiter ahead of the KuCoin listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Devil Biden by entering its contract address – Hu1cFazfpaEFyJ3ETdotpTSBModCC4pJoCvVyLNiTKm7 – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like DEVBIDEN.