SEC to deregulate cryptocurrencies with ‘Project Crypto’
qz.com
SEC chair Paul Atkins called the project a “defining moment for American leadership in the crypto asset markets.”

In a Thursday speech, U.S. Securities and Exchange Commission (SEC) chairman Paul S. Atkins announced “Project Crypto,” an initiative to modernize the country’s securities rules and regulations to move financial markets on-chain.

“Under my leadership, the SEC will not stand idly by and watch innovations develop overseas while our capital markets remain stagnant,” he said at an America First Policy Institute event in Washington D.C. His plan includes measures to reshore crypto businesses that have left the country and to ensure that “archaic rules and regulations do not smother innovation and entrepreneurship in America.”

  • UnderpantsWeevil@lemmy.worldEnglish
    2·
    1 year ago

    Other blockchains have continued moving on

    Sure. But they’re relegated to the realm of highly sketchy pre-mining schemes and pump-and-dump market gambits. There’s no serious third party mining community for these boutique coins.

    I expect its obsolescence will catch up with it and overcome that inertia.

    We still have people digging yellow rocks out of the ground and shoving them in big vaults to store fiscal value.

    If that’s not obsolete, I’m not holding my breath on Bitcoin.

    • FaceDeer@fedia.io
      41·
      1 year ago

      Ether has a market cap of $450 billion, and that doesn’t count all the other tokens running on the Ethereum blockchain. It’s been running since 2013. If you call that a “boutique coin” based on “pump-and-dump” then clearly you’ve either got a highly biased or highly ignorant view of cryptocurrency.

      If that’s not obsolete, I’m not holding my breath on Bitcoin.

      There are technical flaws in Bitcoin that could literally crash it if they aren’t patched out before they become exploitable, as in it’s at zero value and will never recover. That’s not something that can happen to gold.