CryptoSlate Wrapped Daily: Ethereum could be considered a security post-Merge, Whitehouse releases crypto regulatory framework

2 years ago

The biggest quality successful the cryptoverse for Sept 16 includes the crypto assemblage arguing that ETH could beryllium considered a information post-merge, the Whitehouse releasing a model for crypto regulation, U.S. banks pausing crypto lending plans amid challenging SEC guidelines, Celsius seeking support to merchantability $23M worthy of stablecoin assets.

CryptoSlate Top Stories

Debate rages implicit whether Ethereum should beryllium considered a information post-Merge

SEC president Gary Gensler said that cryptocurrencies that let for staking mightiness beryllium classified arsenic securities based connected the Howey test.

With Ethereum’s palmy modulation to a PoS network, immoderate crypto assemblage members expressed interest that ETH could beryllium considered a information and pull undue regulatory attention.

Others argued that the technological quality betwixt PoW and PoS is not a crushed to classify ETH differently.

White House releases inaugural model for crypto regulation

The long-anticipated model released contiguous proffered recommendations connected issues relating to cryptocurrency regulation, cracking down connected crypto fraud, and decoupling the broader system from aboriginal contagion successful the crypto market.

The White House besides hinted astatine the feasibility of processing a Digital Dollar to make a much businesslike outgo strategy that volition bring the fiscal work manufacture up to standard.

With the Merge done, it’s each eyes connected Cardano’s Vasil upgrade

Cardano’s Input Output (I.O.) published an ecosystem readiness update reiterating that the web is acceptable for the Vasil hard fork to instrumentality spot connected Sept 22.

The Vasil hard fork volition heighten Cardano’s web show by expanding its throughput and publication ratio and reducing latency successful artifact transmission.

Reuters reports cardinal U.S. banks are pausing crypto lending plans amid challenging SEC guidelines.

According to a caller SEC guideline, crypto assets held successful custody by nationalist companies indispensable beryllium accounted for arsenic liabilities.

To this end, cardinal U.S. banks similar Bancorp and State Street are slowing done connected their crypto custody services owed to the request to clasp much currency to screen their crypto liabilities.

Celsius seeks tribunal support to merchantability $23M worthy of stablecoin assets

Celsius Network holds astir $23 cardinal successful eleven antithetic forms of stablecoins. The bankrupt crypto lender asked the tribunal to let it to merchantability the stablecoins for U.S. dollars.

Celsius opted to merchantability the stablecoins to make much liquidity to money its concern operations.

Research Highlight

Bitcoin falls beneath each cardinal moving averages for the 5th clip ever

According to information analyzed by CryptoSlate, Bitcoin has fallen beneath the 60-day, 120-day, 200-day, 360-day, and 720-day moving averages for the 5th time.

By implication, the existent BTC terms is astatine the carnivore circle’s low. For galore analysts, this presents a “generational buy” opportunity.

btc moving averages

News from astir the Cryptoverse

ECB sets the signifier to motorboat integer euro

The European Central Bank (ECB) chose Amazon, CaixaBank, Worldline, EPI, and Nexi to make a prototype for its integer euro.

The prototype volition assistance the ECB make idiosyncratic interfaces that suit antithetic segments of its people users.

GrayScale Investment moves to merchantability ETHPOW tokens

Two funds owned by Grayscale Investments received 3,100,629 ETHPoW tokens arsenic an airdrop. The steadfast announced its volition to merchantability the tokens arsenic soon arsenic trading liquidity is developed for ETHW.

Binance misallocates $20m Helium’s HNT tokens.

Binance mistakenly sent 4,8 cardinal HNT tokens successful spot of Helium’s secondary token, MOBILE. The accounting mistake has outgo the crypto speech astir $20 million.

Osmosis co-founder questions the effectiveness of ETH staking post-merge

Osmosis Co-Founder Sunny Aggarwal said that Ethereum’s staking plan model, which limits withdrawals, is not practical.

He added that the inability of users to retreat staked ETH has contributed to the increasing deviation of Lido’s stETH terms from the underlying ETH.

Crypto Market

Bitcoin was level today, Sept 16, trading down just -0.01% successful the past 24 hours. Bitcoin terms sat astir $19,700 passim the day, portion Ethereum traded astatine $1,438.41, a alteration of -2.7%.