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Forbes Legal Expert Is Optimistic About Crypto Regulations in the US


Forbes Legal Expert Is Optimistic About Crypto Regulations in the US
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Forbes contributor Joshua Ashley Klayman, who’s considered to be one of the most prominent lawyers in the cryptocurrency space in the US, has shared her take on a slew of eventful developments in the realm of regulations. She calls them ‘an ambitious step’, but there is a lot of work left to do, and it really matters what comes next.

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Baby steps  

In a little more than a week, the US federal regulators have stepped up their crypto game in order to bring clarity to the nascent market. As reported by U.Today, the Securities Exchange Commission (SEC) made a historic decision by issuing their very first crypto-related ‘No Action’ letter, confirming that the tokens issued by startup TurnKey Jets were not securities. The US regulatory watchdog also published its token framework. While there are still plenty of unanswered questions, the guidance was viewed as the first positive step for the US Blockchain industry.

On top of that all, the Token Taxonomy Act is heading to Congress again. If passed, it would clarify what a crypto token is and exempt those tokens that fir the definition from being treated as securities by the SEC, thus reducing uncertainty in the market.   

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Catching up

A lot of countries, such as Switzerland and Malta, are ‘more welcoming’ to non-security tokens than the US. The UK has also made more progress in that department than the US regulators. That channels Michael Arrington’s criticism of the SEC who claimed that the SEC had to act swift actions to regulate crypto businesses, or they would start fleeing to European and Asian markets.

Klayman is optimistic expectations about the ongoing regulatory developments:

‘While the quest for legislative perfection is admirable, so is the courage to listen to the blockchain community’s concerns and take action in response.  Blockchain literally requires collaboration, as does changing existing laws. The Bills themselves are likely to evolve.’

However, the real question is what comes next.

Cover image via u.today
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Crypto Wonders: Binance Coin (BNB) Hits Its New ATH, Surpassing Its January 2018's Peak

  • Alex Morris
    📰 News

    Binance Coin is so far the second cryptocurrency (after EOS) that managed to rebound after January 2018's drawdown


Crypto Wonders: Binance Coin (BNB) Hits Its New ATH, Surpassing Its January 2018's Peak
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After surging by more than 14 percent over the last 24 hours, Binance Coin has managed to surpass its previous ATH that was recorded during the peak of the bull market in January 2018, according to the data provided by CoinMarketCap (CMC). The historic rally was triggered by numerous recent developments inside the exchange’s ecosystem.  

Binance Coin, CoinMarketCap
Binance Coin continues to register double-digit gains, image by CoinMarketCap

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BNB makes history

At the time of writing this article, the price of the BNB token is at $24.65, rising above its previous ATH of $24.46 that was recorded on Jan. 12. Hence, Binance Coin, the seventh largest cryptocurrency by market capitalization, becomes only the second asset to reach a new price peak after the crash of the speculation-driven bull market. EOS, which is sitting one spot above BNB on CMC, achieved a similar feat in May 2018.

‘Binance Coin is outpacing the overall crypto market. While Bitcoin is off 75% from its all-time-high, Binance Coin has recovered. There is fundamental growth and synergy taking place that is contributing to the rising price of Binance Coin,’ says BitBull Capital CEO Joe DiPasquale.

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Pumping other coins

On Apr. 18, Binance launched the mainnet of its custom Blockchain Binance Chain. The migration of BNB tokens from Ethereum to Binance Chain is scheduled to take place on Apr. 23. This is going to be the second largest token swap in history.

Binance, which is now completed with Ethereum, has already on-boarded some Blockchain projects, including Mithril (MITH) that experienced a 70 percent price pump after its launch on Binance Chain.

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