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3 Latest Blockchain and Crypto-Related Announcements That You Should Know

April 9, 2021 by Blockchain Consultants

3 Latest Blockchain and Crypto-Related Announcements That You Should Know

This article talks about the 3 latest announcements related to Blockchain and crypto space that every Blockchain enthusiast must know. 

Table of Contents 

  • Overview
  • Latest News and Announcements This Week
  • New Kind of Network(NKN) Price Rallied to a New All-Time High 
  • Indian Tech Giant’ Tech Mahindra’ to Launch Stablecoin Tool for Banks
  • India’s Largest Cryptocurrency Exchange, WazirX Launches NFT Marketplace
  • Concluding Lines 

Overview

The uncertainties in 2020 have resulted in a cryptocurrency boom. Blockchain technology has proven to be distributed, transparent, safe, and reliable. Right from its use-cases in finance to supply chain and healthcare, Blockchain has its use-cases in every domain. 

As this sector is booming and shows no sign of slowing down, Blockchain and crypto always remain in the limelight. Let’s talk about top announcements related to this domain.

Latest News and Announcements This Week

In this section, let’s talk about the latest news and accomplishments in the crypto and blockchain domain.

  • New Kind of Network(NKN) Price Rallied to a New All-Time High 

Backed by Blockchain Technology, a New Kind of Network, also known as NKN, is a new type of peer-to-peer(P2P) network connectivity protocol that uses economic incentives to promote users on the internet to share and distribute their network connections and employ unused bandwidth.   

This network has risen 1,400 percent from a low of $0.052 on March 8 to a new all-time peak of $0.779 within two days on April 6, making it one of the month’s unexpected risers.

According to its official website, since its launch in starting in 2018, the project has steadily expanded its active population to become the “world’s largest blockchain network in terms of full consensus nodes,” with 67,266 nodes already running on the network with the capacity to host millions of full consensus nodes. Following Binance’s announcement on March 11 that NKN holders could gain 20% APY on their assets if they deposited them into their Binance savings account, the NKN price began to rise.

  • Indian Tech Giant’ Tech Mahindra’ to Launch Stablecoin Tool for Banks

Indian tech firm Tech Mahindra is revealing and developing a new stablecoin service targeting financial institutions and banks. The tech giant has collaborated with Dutch blockchain application incubator Quantoz to launch a “stablecoin-as-a-service” tool to lessen transaction fees and processing rates.

As a part of the announcement, Rajesh Dhuddu, Blockchain and cybersecurity leader at Tech Mahindra, expressed his views and stated that the recent OCC statement promoting the use of stablecoins for the settlement of financial transactions by banks would drive demand and accelerate innovation in global payments.”

Tech Mahindra’s collaboration will help users integrate Quantoz’s Nexus transaction processing platform into their legacy infrastructure. 

  • India’s Largest Cryptocurrency Exchange, WazirX Launches NFT Marketplace

Another big announcement related to Blockchain and crypto space came from one of the leading largest crypto exchanges, WazirX. Recently, the Indian-based crypto exchange platform announced that it is launching the NFT marketplace for the exchange of digital art, assets, intellectual property, and more. This announcement comes after a strong month for the exchange’s in-house WRX token.

WazirX founder Nischal Shetty believes that it is the first of its kind in India. He further expressed his views regarding the launch and stated that his entire team is delighted to launch India’s first Non-Fungible Token marketplace. As a part of the launch, he explained that creating and listing NFTs will be free on the platform, and work is apparently underway to repeal the bedrock gas fees that increase when minting NFTs on multiple Blockchains. He further stated that, at present, his team is working around certain basics to make NFTs more profitable for their customers.

Concluding Lines 

Apart from these announcements, the XRP price surges 55%, as it has renewed its aim on the creation of a cross-border payment network. The number of crypto projects has also risen, according to Cointelegraph. It says that a new benchmark has been achieved, with the market capitalization of 100 cryptocurrencies reaching $1 billion.

If the domain of crypto and Blockchain interests you, you can get enrolled in Blockchain Council and become a Certified Blockchain Expert. 

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council.  

3 Latest Blockchain and Crypto-Related Announcements That You Should Know

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Filed Under: blockchain technology, cryptocurrency Tagged With: art, article, Banks, Binance, blockchain, Blockchain and Crypto, blockchain council, blockchain news, blockchains, crypto, crypto exchange, Crypto Exchanges, Cryptocurrencies, cryptocurrency, cryptocurrency exchange, cryptocurrency news, cybersecurity, Digital, digital-art, exchange, Exchanges, Fees, finance, founder, healthcare, India, Infrastructure, Internet, Market, market capitalization, marketplace, news, nft, NFTs, p2p, payments, Space, stablecoin, Stablecoins, supply chain, tech, Technology, token, transaction fees, WazirX, xrp

DeFi’s money markets are finally luring in institutional investors

April 8, 2021 by Blockchain Consultants

Bitcoin’s bull run from last year has caused even some of its biggest skeptics to soften their stance. From economists to hedge fund managers, the world is opening itself up to technology, and at the center of this movement is decentralized finance, or DeFi. While the market capitalization of all cryptocurrencies has hit $2 trillion, worth as much as Apple, it’s the promise of DeFi — a small corner of the blockchain industry today — that’s grabbing the attention of institutional investors.

As Bitcoin’s (BTC) bullish trend persists, interest-bearing crypto products have become all the rage. Some services offer up to 8% returns on Bitcoin holdings. For investors who are already expecting a rise in value, this can be incredibly useful for maintaining cash flow without selling any assets.

The three main factors solidifying institutional interest in Bitcoin are the current historically low interest rates, the inflation rate and geopolitical instability. With near-zero interest rates expected for the foreseeable future, investors are gearing up to move their funds into alternative locations for securing wealth.

The United States Federal Reserve’s 2% inflation target has incited concern in investors fearing devaluation, and with tensions between the U.S. and China on a precarious edge, portfolios denominated in U.S. dollars are becoming riskier by the day.

A market for money

Buying, storing and using cryptocurrencies securely is still quite a complex ordeal — far more involved than setting up a bank account. However, according to Larry Fink, the CEO of BlackRock — a global investment management fund with nearly $9 trillion in assets under management — Bitcoin could evolve into a global market asset and achieve new highs in the upcoming years.

In the traditional financial system, money markets are parts of the economy that issue short-term funds. They usually deal with loans for periods of a year or less, and offer services like borrowing and lending, buying and selling, with wholesale trading taking place over the counter. Money markets are composed of short-term, highly liquid assets and are part of the broader financial markets system.

Money markets are traditionally very complicated, with expensive overheads and hidden fees pushing most investors to hire a fund manager. However, their existence is paramount to operating a modern financial economy. They incentivize people to lend money in the short term and allocate capital toward productive use. This improves the overall market’s efficiency while helping financial institutions meet their goals. Basically, anyone with extra cash on hand can earn interest on deposits.

Money markets are composed of different kinds of securities, such as short-term treasuries, certificates of deposits, repurchase agreements and mutual funds, among others. These funds generally consist of shares that cost $1.

On the other hand, capital markets are dedicated to the trade of long-term debt and equity instruments, and point to the entire stock and bond market. Using a computer, anyone can purchase or sell assets in mere seconds, but companies issuing the stock do so to raise funds for more long-term operations. These stocks fluctuate, and unlike money market products, they have no expiration date.

Since money market investments are virtually risk-free, they often come with meager interest rates as well. This means that they will not produce huge gains or display substantial growth, compared with riskier assets like stocks and bonds.

DeFi vs. the world?

To hedge against currency risk, institutions have started using Bitcoin, and retail investors are following their lead. More than 60% of Bitcoin’s circulating supply hasn’t moved since 2018, and BTC is predicted to push well above $100,000 in the next 24 months.

If the current trend carries forward, investors will continue to stockpile BTC. However, while much of the supply of the world’s first cryptocurrency remains in storage, the DeFi industry is constantly producing alternative platforms for interest-bearing payments through smart contracts, which increases transparency by allowing investors to view and track on-chain funds.

The average return for DeFi products is also much higher than in traditional money markets, with some platforms even offering double-digit annual percentage yields on deposits. From asset management to auditing smart contracts, the DeFi space is creating decentralized infrastructure for scalable money markets.

According to Stani Kulechov, co-founder of the Aave DeFi protocol, rates are high during bull markets because the funds are used to leverage more capital, with the cost of margin pushing up the yield. “New innovation in DeFi is consuming more stablecoins, which further increases the yield. Unless there is a new capital injection — these rates might stick for a while,” he said.

The Ethereum network currently hosts most of the DeFi applications, and this has barred tokens that aren’t available on the network from participating in decentralized finance. Bitcoin, for example, despite being the largest cryptocurrency by market capitalization, has only recently found its way onto DeFi platforms.

Related: DeFi yield farming, explained

With Kava’s Hard Protocol, investors can yield farm using Bitcoin and other non-ERC-20 tokens like XRP and Binance Coin (BNB). Backed by some prominent names (Ripple, Arrington XRP Capital and Digital Asset Capital Management, among others), the platforms allow users to stake their cryptocurrencies into a pool of assets, which is lent out to borrowers to generate interest.

The team also plans to add support for Ethereum-based tokens in the near future. The network’s upgrade to Kava 5.1, which was postponed to April 8 after failing to reach the required quorum, will also introduce the Hard Protocol V2, bringing powerful incentivization schemes and enhancements to its governance model.

Most loans in DeFi are overcollateralized, meaning the pool always has more money than it lends out. In case the value of the issued token drops, funds in the pool are liquidated to compensate.

According to Anton Bukov, co-founder of decentralized exchange aggregator 1inch, blockchains are the first-ever unbiased executors in human history — very limited, but ultimately fair — and could deliver new services and new flows of interactions in future. “Developers are doing their best to solve potential dishonesty issues of existing flows and invent new flows by replacing intermediaries,” he said.

By creating an automated platform to borrow and lend assets, decentralized finance enables money markets without intermediaries, custodians or the high fees that stem from high infrastructural costs.

Honest work

Of the many trends DeFi has set into motion over the last few years, yield farming has attracted quite a lot of attention. Yield farming is when the network rewards liquidity providers with tokens that can be further invested into other platforms to generate more liquidity tokens.

Simple in concept, yield farmers are some of the most vigilant traders out there, constantly switching up their strategies to maximize their yield and tracking rates across all platforms to ensure they’re getting the sweetest deal. The potential rate of return can become obscenely high, but it’s still unclear whether yield farming is just a fad or a phenomenon in the making. Kulechov added:

“Yield farming is simply a way to distribute governance power to users and stakeholders. What actually matters is whether the product itself would find protocol market/fit. Most successful governance power distributions with yield farming have been with protocols that have found protocol market/fit before such programs.”

Yield farming has an incredibly positive feedback loop, with an increase in participation pushing the value of its governance token up, driving further growth. According to Kava CEO Brian Kerr, while this feedback loop can produce very positive results in bull markets, it can have entirely the opposite effects in falling markets:

“It will be up to the governance groups of the various projects to navigate bear markets effectively, by ratcheting back rewards before a full-on death spiral occurs. Regardless of bull or bear markets, yield farming will be a mainstay in blockchain projects for years to come.”

Money markets are the pillars of our global financial system, but most of its transactions occur between financial institutions like banks and other companies in time deposit markets. However, some of these transactions do find their way to consumers through money market mutual funds and other investment vehicles.

Decentralization is the next frontier for finance, and as prominent investors continue to engage with the DeFi space, a decentralized economy seems all but inevitable. Participating in the burgeoning environment may be a risky bet today, but what decentralized finance platforms learn now will be the foundation of the robust DeFi applications of the future. According to Bukov, the higher interest rates of DeFi platforms are “absolutely sustainable.” He added:

“Higher profits are usually involved with higher risks. So the risk-profit model of all these opportunities is always nearly balanced. Normalizing risks would decrease profits because more participants will join to share the rewards.”

From smart contract malfunctions to the unauthorized withdrawal of community funds, the DeFi space is a place of both miracles and nightmares. DeFi-based yield farming platforms are still in their very early stages, and while the numbers can be all too tempting at times, it’s crucial to do your own research before investing in any platform or asset.

DeFi’s money markets are finally luring in institutional investors

Source

Filed Under: blockchain technology Tagged With: 1inch, aave, Adoption, Bank, Banks, Binance, Binance Coin, Bitcoin, blockchain, blockchains, bond, Bonds, btc, Capital Markets, Cash, ceo, China, Co-founder, Companies, crypto, Cryptocurrencies, cryptocurrency, Currency, debt, decentralized, Decentralized Exchange, Decentralized Finance, DeFi, DEX, Digital, economy, Environment, equity, ethereum, Ethereum network, exchange, Fees, finance, Fund Manager, hedge fund, Inflation, Infrastructure, Interest Rates, Investing, investment, Investment Management, Investments, loans, Market, market capitalization, Markets, Model, money, Mutual Funds, other, payments, ripple, smart contract, smart contracts, Space, Stablecoins, Stocks, storage, Technology, token, Tokens, Trading, trends, u.s., United States, view, Wealth, world, xrp, yield farming

Ethereum Price Prediction: ETH/USD Triggers A Fresh Increase; Price May Head For $2100

April 8, 2021 by Blockchain Consultants

ETH Price Prediction – April 8

ETH/USD bullish action is breaking above the $200 barrier as the coin currently focuses on a $2100 resistance level.

ETH/USD Market

Key Levels:

Resistance levels: $2200, $2300, $2400

Support levels: $1800, $1700, $1600

ETHUSD – Daily Chart

ETH/USD begins to refresh above the 9-day and 21-day moving averages in order to remain above the $2000 resistance level as the coin currently trades at $2063 with a bullish crossover in the intraday. At the time of writing, ETH/USD touches the daily high of $2077. Higher support at $1950 is expected to be a stepping stone for a comeback below $2000 but the majestic rally could eye $2100 resistance level.

What to Expect from Ethereum (ETH)

Looking at the daily chart, parallel trade can only take over in the ETH trading if the $2000 subsidy is maintained at all costs. At the moment, the technical indicator RSI (14) is about to cross above the 60-level by sending the bullish signals to the upside and this may encourage more buyers to enter the market.

Meanwhile, the coin may continue to do well and the price could hit the resistance levels at $2200, $2300, and $2400 in as much as the 9-day MA stays above the 21-day MA, More so, if the technical indicator decides to make a quick turn back to the lower side, then, there may be a quick bearish drop within the channel and this may likely roll the market down to the support levels of $1800, $1700, and $1600.

Against BTC, Ethereum is trading above the 9-day and 21-day moving averages as the price is now hovering at 0.035 SAT as the technical indicator RSI (14) moves above the 60-level. Meanwhile, for the fact that the market follows the descending channel, the pair seems to be moving towards the upper boundary of the channel to cross into the upside.

ETHBTC – Daily chart

However, if this comes to pass, the resistance levels to be reached are located at 3900 SAT and 4000 SAT. On the other hand, a higher sustainable move below the moving averages may likely cancel the bullish pattern and could attract new sellers coming into the market with the next focus on 3300 SAT and 3200 SAT support levels.

Ethereum Price Prediction: ETH/USD Triggers A Fresh Increase; Price May Head For $2100

Source

Filed Under: blockchain Tagged With: analysis, btc, data, ETH, ethereum, Ethereum Price, ETHUSD, head, Market, opinion, other, Price Prediction, Technical Analysis, Trading

Top NFT Projects You Must Know in 2021

April 8, 2021 by Blockchain Consultants

Top NFT Projects You Must Know in 2021

Wondering what NFTs are? Want to know some of the top-rated NFTs? Well, we have got you covered! 

Table of Contents 

  • What are NFTs?
  • Top-Rated NFT Projects on the Rise 
  • Concluding Lines 

What are NFTs?

NFTs stand for Non-fungible tokens, which means that they are unique and can’t be replaced with something else. If we talk about a fungible asset, it is something with units of data that can be interchanged easily and quickly – for instance, money. 

In the digital world, most technocrats define non-fungible tokens as “one-of-a-kind” assets that can be bought and sold like any other property but have no tangible form of their own.

Here it is important to note that although NFTs can be anything digital, for instance, drawings, music, etc., but at present, excitement is around using the technology to sell digital art.

In most simple words, NFT is a unit of data on a digital ledger called Blockchain, where each can represent a unique digital item.

Want to gain an in-depth understanding of Blockchain Technology and become a Certified Blockchain Expert? Get started today!

Top-Rated NFT Projects on the Rise 

CryptoPunks 

It is one of the high-grossing NFT projects and is considered to be one of the most simplified art forms for NFTs. Blockchain Experts and technocrats believe that it is a project that inspired the modern CryptoArt movement. CryptoPunks project enables its users to trade and store 10000 unique collectible characters generated uniquely using Proof-of-Ownership stored on the Ethereum Blockchain. By providing art ownership that can be transferred smoothly and continuously between users, this project is creating a decentralized digital art market. Its website describes itself as the first “NFT” on the Ethereum Blockchain network and an inspiration for the ERC-721 standard, powering most digital artworks and collectibles.

Are you a beginner in the Blockchain space? Get started today as a Certified Blockchain Expert with Blockchain Council!

SuperRare

Founded in 2017, it is a marketplace for single-edition digital artworks that uses an ERC-721 token that is traceable and cryptographically secured to represent each digital artwork. 

What happens is artists upload their digital artwork, and the platform certifies the digital artworks on the Ethereum blockchain network in order to prevent forgery and offers to trace. In addition to this, SuperRare charges artists a percentage of commission to upload artworks on the platform. As the platform is among the top-ranking NFT-art marketplaces, it has reached an all-time trading volume of around $7.5 million, and also more than 12 000 pieces of digital art have been sold. 

Pascal Boyart 

The OpenSea storefront of Pascal Boyart has sold digital artworks of approximately 400 ETH, with new offerings prices above 75ETH. As the name of the project suggests, Boyart is a skillful artist based in Paris who creates Digital Collectibles from his street art frescoes and has sold some of his artworks in a tokenized form in the past.

Talking about the new mural paintings, these are encased in newly minted non-fungible tokens and are sold at an auction, indicating that the crypto domain can build an art market easily within months. According to reports, Boyart’s murals also got featured in the digital Museum of Crypto Art.

To have a look at the recently added artworks by Pascal Boyart, you can visit: 

https://opensea.io/collection/pascal-boyart?ref=hackernoon.com

The SandBox

Sandbox’s website describes itself as a community-driven platform where producers can monetize voxel assets and gaming experiences on the peer-to-peer, decentralized, Blockchain platform. The Sandbox is powered by SAND (ERC-20) token and ERC-1155 tokens: LAND and FUND. The platform features three sub platforms, namely:

  • VoxEdit enables users to create and animate voxel art and export them worldwide.
  • A marketplace that provides a place to sell and collect the most beneficial assets. 
  • Game Maker allows consumers to make and play any game of their choice that they ever imagined. 

This platform partners with Atari, Square Enix, Care Bears, The Smurfs, and other leading brands. Although it has entered the crypto space recently, the project is the seventh valuable NFT protocol. 

Lil Moon Rocket

Unlike other NFT projects that are built on Ethereum Blockchain, Lil Moon Rocket is an NFT project that uses the Binance Chain to issue NFTs and subsequent “name rockets” tokens. The project follows the latest trends in the Combination of vector art and algorithm generation. Each customer can obtain their own moon rocket picture after the initial selling of the digital artwork. Lil Moon Rockets uses its own “blind auction” model to keep project managers and early competitors from purchasing the most desirable artwork first. At the completion of the smart contract, all artwork will be revealed. The best part is that owners can co-create uniqueness by renaming the artworks with full ownership, and the first collectible with determined consumer traits are offered in vector graphics.

Concluding Lines 

NFTs have the potential to transform digital exclusivity and offer a new definition to digital property rights. As celebrities have begun collaborating with NFT projects, projects have started gaining momentum, with projects reaching record-breaking sales. As a result, we will foresee NFT growth in 2021 and beyond, as well as deeper integration between decentralized finance(DeFi) and NFTs to make them more liquid and valuable. To sum up, combining art and collectable characteristics seems to be one of the most effective ways to draw new buyers.

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council.  

Top NFT Projects You Must Know in 2021

Source

Filed Under: blockchain, blockchain technology Tagged With: 10000, art, Artists, Auction, Binance, blockchain, blockchain expert, celebrities, crypto, data, decentralized, DeFi, Digital, digital-art, ETH, ethereum, Ethereum Blockchain, Gaming, Ledger, maker, Market, marketplace, Model, money, Moon, music, nft, NFTs, opensea, other, Paris, rockets, smart contract, Space, Square, Technology, token, Tokens, Trading, trends, world

UAE minister of economy: Crypto & tokenization “key” to doubling GDP

April 7, 2021 by Blockchain Consultants

At a panel for the World Economic Forum’s Global Technology Governance Summit today, United Arab Emirates minister of economy Abdulla Bin Touq Al Marri said that cryptocurrency and asset tokenization will be key to the country’s plans to double its economy — currently estimated to be the 34th largest in the world — in ten years. 

Al Marri was joined on the panel, titled the “Arrival of the token economy, from art to real estate,” by artist Harry Yeff and WEF executive Sheila Warren. While much of the conversation centered on the current NFT craze, Al Marri’s comments centered largely on forthcoming tokenization use cases and their regulation.

According to Al Marri, the country has ambitions to grow its GDP by 7% yearly, which would put it on track to double the size of its economy by 2030. Tokenization will be a key cog in this effort, as “tokenization compliments information-based economies.”

Perhaps most exciting from an adoption standpoint, the minister said that the country has several ambitious projects underway, including a study underway being conducted along with the WEF on funding small and medium sized enterprises with a government-run token platform, possibly as part of a “regional token exchange” which is “in our agenda,” Al Marri said.

When asked about how the government — which by nature is deeply embedded in a pre-token economy — will interact with these new models and the need to regulate them Al Marri said the goal is to protect investors as well as the larger financial system without stifling innovation.

“We’re a government, we’re good at regulation,” he joked.

He highlighted two pain points in particular: Lack of “harmonized regulation,” and lack of sufficient regulation. He noted that jurisdiction and regional regulations need to work together in order to prevent cloistered bubbles of innovation, and to ensure that new asset models, such as fractionalized ownership, benefit all.

“How can we bring fractionalization to a level where everyone can benefit?” He asked.

He also noted that fractionalized ownership can lead to real world-meets-blockchain bugaboos: if an apartment has fractionalized ownership, who pays the upkeep fees? If there’s a fractionalized painting, what happens when the painting gets stolen?

Ultimately, the country is eager to lead the world in facing these questions head-on.

“We understand the challenges as such, but we are experimenting, and allowing the UAE to be a site of experimentation.” 

UAE minister of economy: Crypto & tokenization “key” to doubling GDP

Source

Filed Under: blockchain technology Tagged With: Adoption, art, asset tokenization, crypto, cryptocurrency, economy, exchange, executive, Fees, funding, government, nft, NFTs, pain, Regulation, Study, Technology, token, Tokenization, UAE, united arab emirates, WEF, world

Ripple Vs SEC: Discussions Opened For Defining Crypto As Securities

April 7, 2021 by Blockchain Consultants

The US Securities and Exchange Commission (SEC) and Ripple Labs have had a very long, very interesting relationship. Recently, however, Ripple Labs has been granted access to the documents of the SEC that express the interpretations and views of the SEC when it comes to crypto assets.

Playing The Technical Game

Law360 showed that one Sarah Netburn, a US Magistrate Judge, had granted Ripple Labs the motion “in large part.” The Judge had concluded that the memos and minutes of the SEC regarding cryptocurrencies are likely discoverable but asserted that staff-to-staff email communications are not to be produced. Another detail Netburn allowed is for either RIpple or the SEC to raise disputes with the ruling if they wished.

It was back in December of last year when the SEC filed its lawsuit against Ripple. In this lawsuit, the regulator accused Ripple Labs, including Christian Larson, the Chairman, and Brand Garlinghouse, the CEO, of raising a total of $1.38 billion by way of an unlicensed security offering, which they did all the way back in 2013.

A Crack Legal Team Is Severely Versatile

Not to give the jig up just yet, Ripple promptly challenged the SEC’s lawsuit, claiming that an asset expressly used for online settlements is more akin to Ether or Bitcoin. Both of these assets have been declared commodities by the SEC. Another important factor Ripple hammers home about is the 8-year time gap the agency took in terms of filing a complaint against RIpple as a whole.

Matthew Solomon stands as the Counsel of Garlinghouse, with Law360 reporting that Matthew Solomon is convinced that the SEC’s lawsuit could be “game over” should they manage to find any evidence that the regulator had compared XRP to ETH or BTC. Through this technicality, XRP would be classified as a commodity instead of security, and thus be outside of the jurisdiction of the SEC.

The Legal System Is Always Complex

Another point lawyers are hammering home on, is the fact that the SEC has taken a whole of 8 years to file the complaint. As such, the law firm is doing its best to undermine the claims of the regulator should they find any documentation that is counterintuitive to the official classification of XRP by the SEC.

Solomon declared that this sort of discovery is needed in order to defend the client in question

Time will tell how successful this antic will be. Many in the crypto space already see RXRP as a security and are simply waiting for them to be caught out for it

Ripple Vs SEC: Discussions Opened For Defining Crypto As Securities

Source

Filed Under: blockchain, cryptocurrency Tagged With: Bitcoin, btc, ceo, chairman, commodity, crypto, Cryptocurrencies, cryptocurrency, data, ETH, ether, exchange, Law, lawsuit, Market, ripple, ripple labs, SEC, Securities and Exchange Commission, security, Space, Trading, us, xrp

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