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• U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler believes that proof-of-stake tokens could meet the definition of securities under the Howey Test, thus bringing them under his agency’s regulatory authority.
• Gensler argued that securities laws could be triggered because investors anticipate a return when they purchase tokens underpinned by a proof-of-stake consensus mechanism.
• The SEC is engaging in a “turf war” with the Commodity Futures Trading Commission (CFTC) to determine which agency has regulatory power over various crypto assets.

Gensler Suggests Proof-of-Stake Tokens Are Securities

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler suggested again that tokens created through proof-of stake consensus mechanisms may meet the definition of securities under the Howey Test, bringing them under his agency’s regulatory authority.

Investors Anticipate Return on Investment

Gensler argued that securities laws could be triggered because investors anticipate a return when they purchase tokens underpinned by a proof-of-stake consensus mechanism. He noted that this expectation of return implies an investment contract, which is one of the core criteria for determining if something is a security according to the Howey Test.

SEC vs CFTC Regulatory Power

The SEC’s suggestion comes as it engages in a “turf war” with the Commodity Futures Trading Commission (CFTC) to determine which agency has regulatory power over various crypto assets such as ether and bitcoin futures contracts on regulated exchanges like CME Group and Bakkt, respectively. This turf war has been ongoing since 2018 when both agencies declared their respective jurisdictions over cryptos based on their classifications as either securities or commodities respectively.

Ether Reclassified as Security

Gensler had previously argued that ether might be a security after Ethereum’s transition to proof-of-stake last year, though he later clarified he was not making any official determination at the time. However, regulators did label ether as security during their investigation into decentralized finance platform Uniswap earlier this year – indicating there could be legal repercussions for platforms listing certain tokens without registering with SEC first or obtaining appropriate exemptions from registration requirements..

Crypto Regulation Continues To Evolve

As cryptos continue to evolve, so too do regulations surrounding them – potentially leaving users subject to further restrictions or liabilities relating to their use of these digital assets in different jurisdictions around the world

Biden’s Budget Plan to Close Crypto Tax Loss Harvesting Loophole

• President Joe Biden is expected to unveil a budget proposal on Thursday that includes a provision to close the tax loss harvesting loophole for crypto transactions.
• The provision would be expected to raise $24 billion in revenue, by preventing investors from claiming losses on their taxes and then buying the same amount and type of cryptocurrencies again.
• The proposed budget also includes other measures intended to reduce the U.S. deficit by $3 trillion over the next 10 years.

What is Tax Loss Harvesting?

Tax loss harvesting is a technique used by investors to offset capital gains taxes by selling investments at a loss in order to claim the loss on their taxes. In the case of cryptocurrency, investors can sell any cryptocurrencies at a loss and then buy back the same amount and type of cryptocurrencies again, thereby reducing their overall tax burden.

Previous Efforts to Close this Loophole

Lawmakers have previously introduced legislation intended to prevent investors from using this loophole, including a bill in late 2021 that would similarly prevent investors from claiming a loss only to repurchase the same cryptocurrencies again. However, these efforts have not yet become law as they must pass through Congress and receive approval from President Biden before they are officially enacted.

Bipartisan Infrastructure Framework Includes Crypto Tax Provision

The Bipartisan Infrastructure Framework was passed into law in 2021 as part of the Infrastructure Investment and Jobs Act, which included a controversial tax provision that would impose certain reporting rules onto brokers facilitating crypto transactions. This definition of „broker“ was seen by many in the industry as overly broad, potentially encompassing miners who don’t directly facilitate transactions or collect personal data about customers during payments or transfers involving cryptocurrency.

Conclusion

President Joe Biden’s proposed budget will include provisions intended to close tax loopholes related to crypto trading and taxation while raising revenue for U.S government spending initiatives over the next 10 years. These proposals must pass Congress before becoming official policy, but if approved could significantly impact how individuals trade cryptocurrency going forward

• BridgeTower Capital announced on Wednesday a turnkey on-ramp for financial institutions to connect with Lido’s staking infrastructure and a security token that allows institutional investors to benefit from Avalanche’s staking rewards.
• BridgeTower’s integration with Lido’s system is automated and compliant with regulations, while their security token is issued through Securitize, a regulated platform.
• Through purchasing the security token, institutional investors can receive rewards associated with staked AVAX tokens.

BridgeTower Capital Offers Compliance-Focused Solutions

BridgeTower Capital has been making strides in the crypto industry by providing solutions that focus on regulatory compliance. The blockchain technology firm operates more than 8,000 validators running on 100% renewable energy and recently announced an on-ramp for financial institutions to access Lido’s staking infrastructure as well as a security token that allows investors to partake in Avalanche’s staking rewards.

On-Ramp for Financial Institutions

Through BridgeTower’s marketplace, institutional investors can complete their know-your-customer (KYC) process before having a delegated wallet that stakes ether (ETH) straight into Lido’s system. This integration is fully automated and helps ensure compliance with relevant regulations without diminishing the investor’s experience.

Security Token Offering

In addition, BridgeTower also offers a security token through its collaboration with Securitize – a regulated platform for issuing digital asset securities. When an institutional investor buys this security token, they will be able to receive rewards associated with the AVAX tokens that are being staked by them or another party. As such, this product provides an alternative way for investors to take advantage of layer 1 blockchain networks without needing to handle AVAX tokens directly.

Ensuring Regulatory Compliance

BridgeTower emphasizes regulatory compliance through its solutions and products – allowing it to stay ahead of the curve when it comes to blockchain technology innovation within the current legal framework set forth by regulators around the world. By integrating KYC processes into its marketplace and offering security tokens instead of direct access to AVAX tokens, it ensures that all participants are held accountable while still being able to benefit from network growth potential and returns associated with staking rewards.

Conclusion

BridgeTower Capital has become an important player in the crypto space due its emphasis on regulatory compliance while simultaneously offering innovative solutions such as its turnkey on-ramp for financial institutions and its security token offerings which allow institutional investors access layer 1 networks securely without needing direct access to AVAX tokens themselves

• The article is about the impact of technology on human life.
• It discusses how technology has changed our lives, both positively and negatively.
• It also looks at how people can use technology to improve their lives in the future.

Introduction

The impact of technology on human life is immense and ever-growing. Technology has changed our way of living drastically, from communication to entertainment, from health to education, from transportation to commerce – it has made a huge difference in all aspects of our lives. In this article we will explore how technology has impacted us and how we can use it for further improvement in the future.

Positive Impact of Technology

The most obvious benefit that technology gives us is convenience. We have access to information at our fingertips with just a few clicks or taps on our phones or computers. Communication has become easier and faster than ever before, with social media sites like Facebook, Twitter and Instagram allowing us to get instant updates about what’s happening around the world within seconds. With apps like Skype and Facetime, we can even communicate face-to-face with friends and family who are miles away without having to spend a lot of money on long distance calls. Technology also helps us stay healthy by providing us with access to medical information online as well as tools that help us track our fitness goals more efficiently. Finally, technological advances have made education more accessible by providing students with online courses that can be taken from anywhere in the world at any time of day or night.

Negative Impact of Technology

However, there are also some drawbacks associated with technology which cannot be ignored. Increased reliance on technology can lead to isolation as people become less likely to interact physically due to increased usage of digital communication methods such as texting or emailing instead of talking face-to-face or over the phone. Additionally, too much screen time can cause physical fatigue due to eye strain, headaches, neck pain and other issues related to prolonged exposure to blue light emissions from screens. Moreover, cyberbullying is another issue that arises out of excessive use of internet platforms such as social media sites where people may experience harassment or ridicule from anonymous users which could have serious repercussions on their mental health if left unchecked.

How To Use Technology For Improvement?

In order to make sure that we take maximum advantage out of technological advances while minimizing its negative effects on our lives, there are certain steps that should be taken: Firstly, set limits for yourself when using digital devices such as phones or laptops and stick with them; secondly make sure you take regular breaks away from screens whenever possible; thirdly don’t forget about spending quality time outdoors engaging in physical activities; fourthly create an environment conducive for productive work by setting up appropriate notifications settings so you don’t get distracted easily; finally look into resources available online for self improvement such as e-books/courses/webinars etc., which offer valuable knowledge without spending too much money or time travelling for them .

Conclusion

In conclusion it is evident that although there are both positive and negative impacts associated with technology its potential benefits far outweigh any disadvantages if used appropriately and responsibly . By recognizing its power we can use it not only effectively but also ethically so that everyone stands benefited out of this miraculous invention called ‘Technology’!

• The U.S. Securities and Exchange Commission (SEC) is introducing a proposal that would require investment advisers to use only „qualified custodians“ for their crypto assets.
• Coinbase’s Custody Trust Co. and BitGo are among the state-chartered trusts that may be able to qualify under this new rule.
• Anchorage Digital Bank, which holds a federal charter from the Office of the Comptroller of the Currency (OCC), is also poised to meet SEC standards as a qualified custodian.

SEC Proposal Could Complicate Advisers’ Use of Crypto Platforms

The U.S. Securities and Exchange Commission (SEC) has proposed a rule that could require investment advisers to make hard decisions about how they keep clients‘ crypto assets safe from theft or loss. The agency’s proposal states that SEC-registered investment advisers must put all of their clients‘ assets, including crypto assets, into “qualified custodians” — which must come from a narrow list of regulated financial institutions, not merely any crypto trading platform.

Coinbase and BitGo May Qualify Under Proposed Rule

State-chartered trusts such as Coinbase’s Custody Trust Co., and BitGo may still be able to qualify in this role according to the SEC’s proposal. Paul Grewal, Coinbase’s chief legal officer said in a statement that he is confident that Coinbase Custody Trust Co., which is chartered by New York, will remain as a qualified custodian following Wednesday’s proposal by the SEC. Similarly, Anchorage Digital Bank—which holds a federal charter from the Office of the Comptroller of the Currency (OCC)—has reassured investors it is well prepared to meet SEC standards as an approved qualified custodian for digital assets.

Risks May Lurk For Other Crypto Businesses

Despite these assurances from some crypto businesses, others may find themselves at risk due to this proposed rule change by the SEC because their services may not meet its requirements for being considered “qualified custodians.“ Furthermore, there have been questions raised about whether blockchain networks themselves can act as qualified custodians—but so far those questions remain unanswered pending further study by industry lawyers and lobbyists on exactly what qualifies according to this new rule released by the SEC earlier this week.

CoinDesk Deputy Managing Editor Weighs In

Jesse Hamilton CoinDesk’s deputy managing editor for global policy and regulation believes this proposed rule by the SEC could complicate advisors‘ use of crypto platforms depending on how it is interpreted when it comes into effect later this year or early next year if finalized after public comment period ends in April 2021.. He does however acknowledge that some crypto businesses like Coinbase and Anchorage Digital appear ready for whatever changes might come with this new ruling .

Conclusion

The proposed rule by US Securities & Exchange Commission will bring much needed clarity around who can legally store digital asset investments while ensuring they are kept safe from theft or loss; but at same time create complications for other non compliant businesses who do not fit within its definition of „qualified custody“. What remains certain however is companies like Coinbase and Anchorage Digital have taken steps necessary to ensure they are ready no matter what changes come with this new ruling when it goes into effect later 2021 or early 2022

• The article discusses the “golden cross”, a popular technical analysis indicator used by traders to indicate a potential bull market.
• It discusses how this indicator is being used in the context of Bitcoin and Ethereum, and its implications for trading strategies.
• It also examines the current state of asset prices across a range of markets, and how the Federal Reserve may factor into these trends.

What is a ‚Golden Cross‘?

A „golden cross“ is a technical analysis indicator that occurs when a shorter-term moving average crosses above a longer-term one. This crossover is viewed as an indication of the start of a new bull market. In crypto markets, traders are paying close attention to this phenomenon as Bitcoin (BTC) and Ethereum (ETH) approach possible golden crosses.

The Implications for Crypto Traders

When it comes to trading strategies, there are various considerations that come into play when looking at possible golden crosses on Bitcoin and Ethereum charts. Technical analysts such as myself take these crossovers into account when making decisions about entering or exiting positions in the market. However, it’s important to remember that this indicator only provides part of the picture – other factors need to be taken into consideration as well before any significant trades are made.

Wide Range Of Asset Prices

In addition to looking at crypto markets, we must also examine broader asset prices across different markets — from stocks and bonds to commodities and currencies — which have been quite bullish lately. This trend could be attributed in part to the Federal Reserve’s expansive monetary policies that have been implemented over the past year or so in response to the coronavirus pandemic.

The Bigger Picture

Ultimately, while indicators like golden crosses can provide useful information for traders, they don’t tell us everything we need to know about price movements in any given market – particularly when considering cryptocurrency assets with their volatile nature. Therefore, investors should always pay attention not just to technical analysis but also macroeconomic developments when making decisions about their portfolios.

Conclusion

In conclusion, traders should pay attention not only to technical analysis indicators like golden crosses but also macroeconomic trends when determining which positions they take in cryptocurrency markets or any other type of market for that matter. By keeping an eye on both aspects — short-term price movements and long-term economic conditions — investors can make more informed decisions about their investments overall.

• Aptos Labs, the newly launched blockchain built by former Diem developers, has issued a $50,000 grant to a Cornell University professor of computer science.
• The grant will be used to fund research in developing an approach to scale the performance of blockchains.
• Aptos Labs also announced that Stanford University Professor of Computer Science Dr. Dan Boneh has joined as an adviser.

Aptos Labs Issues Grant to Blockchain Lab at Cornell University

The newly launched blockchain built by former Diem developers has issued a $50,000 grant to a Cornell University professor of computer science. The grant will be used by the university to fund research in developing an approach to scale the performance of blockchains by building a secure, decentralized log on top of a Byzantine-tolerant database.

Layer 1 Blockchain Surges 400%

Aptos‘ native token has surged over 400% since the start of the year amid increased interest in NFT trading. Aptos Labs Co-Founder & CEO Mohammad Shaikh discusses the potential catalysts for the rally, the outlook for NFTs and layer 1 competition.

Stanford Professor Joins as Adviser

Aptos Labs also announced that Stanford University Professor of Computer Science Dr. Dan Boneh has joined as an adviser. Stan provides guidance on best practices for smart contract design and security audits on its blockchain platform and protocols.

CoinDesk Crypto Event

Join the most important conversation in crypto and Web3 taking place in Austin, Texas April 26-28 with Secure Your Seat event from CoinDesk where you can discuss about new developments and ideas related to cryptomarketplace .

About Oliver Knight

Oliver Knight is a CoinDesk reporter based between London and Lisbon who does not own any crypto but follows @OKnightCrypto on Twitter

• Injective, a Cosmos-based layer 1 blockchain, announced a $150 million ecosystem initiative with partners Pantera Capital, Kucoin Ventures, Jump Crypto and Delphi Labs.
• The fund will back projects that accelerate the adoption of interoperable infrastructure and decentralized finance (DeFi).
• The initiative will offer token and equity investments and operational support for development, cryptographic research, marketing and community growth.

Injective, a Cosmos-based layer 1 blockchain for building finance apps that can access other blockchains, recently announced an ambitious $150 million ecosystem initiative. Joining the initiative are several partners including crypto investment firms Pantera Capital and Kucoin Ventures, market maker Jump Crypto, and research and development hub Delphi Labs.

The fund will be used to back projects that accelerate the adoption of interoperable infrastructure and decentralized finance (DeFi). This means that the projects will make it easier to move value across different blockchains, allowing users to access financial services more easily. The initiative will offer both token and equity investments, as well as operational support through memberships in development, cryptographic research, marketing, and community growth.

Injective, based in New York, is also hosting a global virtual hackathon. This event provides developers with an opportunity to submit projects for potential venture funding. The hackathon is designed to foster innovation and new ideas, as well as to support the growth of the DeFi ecosystem.

In addition to the $150 million ecosystem initiative, Injective has also received investments from several venture capital firms. This includes investments from Binance Labs, Blockchain Capital, Coinbase Ventures, and Galaxy Digital.

The initiative is part of Injective’s larger mission of creating an open, interoperable, and decentralized financial infrastructure. This infrastructure is designed to provide users with access to a wide range of financial services, regardless of the underlying blockchain.

The team at Injective believes that the combination of the $150 million ecosystem initiative and the influx of venture capital will help to further accelerate the growth of the DeFi space. This could lead to more efficient, secure, and affordable financial services and products, allowing users to access the financial system without relying on traditional institutions.

• Blue, a DeFi-focused startup, has come out of stealth with $3.2M in funding from Blockchange Ventures, Fenbushi Capital, DoraHacks, Knollwood Investment Advisory, Gate.io and Wave Financial.
• The company offers products to help with know-your-customer and money-laundering checks.
• The funding will be used to complete security audits and expand Blue’s core team.

A DeFi-focused startup, Blue, has recently announced their emergence from stealth mode with an impressive $3.2 million in funding. This round was co-led by Blockchange Ventures and Fenbushi Capital, with additional support from DoraHacks, Knollwood Investment Advisory, Gate.io and Wave Financial.

Blue is a financial services provider that offers products to help with know-your-customer (KYC) and anti-money-laundering (AML) identity verification processes for traders on decentralized-finance (DeFi) protocols. As the decentralized finance sector has seen massive growth in the wake of centralized cryptocurrency exchange FTX’s collapse and a series of crypto exchange bankruptcies earlier in 2022, it is clear that the demand for such services is high.

The funding will be used to complete security audits from Halborn and Verilog Solutions. It will also be used to help expand Blue’s core team and bring their permissioned DeFi product to market in the first quarter. The company has already begun working on several proof-of-concepts with some of the leading DeFi companies and will soon deploy the product.

Blue is led by founders Casper Yonel and Paul Thomas, who are both experienced software engineers and entrepreneurs. Yonel has worked on a variety of software products in the past, including a blockchain-based certificate issuer, while Thomas has co-founded multiple startups.

The team at Blue has also been working to build a strong network of investors and advisors to help them navigate the complicated and everchanging DeFi landscape. With the combination of their strong network and the recent funding, Blue is poised to have a great impact on the decentralized finance sector.

Bullet Points:
• Yuga Labs has filed a trademark lawsuit against conceptual artist Ryder Ripps.
• Co-creators of Bored Ape Yacht Club NFT series, Wylie Aronow and Greg Solano, will be deposed as part of the lawsuit.
• Ryder Ripps has been waging a PR campaign to paint the Bored Apes and related intellectual property as covertly racist and pro-Nazi projects.

Yuga Labs, the corporate backer of Bored Ape Yacht Club (BAYC) non-fungible token (NFT) series, have recently filed a trademark lawsuit against conceptual artist Ryder Ripps. In a Jan. 5 court filing ahead of a hearing on Monday, Yuga argued that the co-founders of the series, Wylie Aronow and Greg Solano, were „apex witnesses“ and would need to be deposed as part of the lawsuit.

The case is focused particularly on the narrow legal issue of trademark infringement, however, Ryder Ripps has been waging a yearlong PR campaign to paint the Bored Apes and related intellectual property as covertly racist and pro-Nazi projects. Ripps has used social media platforms and interviews to spread his message, which has received significant attention in the media. As a result, Yuga Labs has had to mount a defense of its NFT series, which has become very popular in the crypto community.

Yuga Labs have argued that Ripps‘ accusations are baseless and that the Bored Apes series is not motivated by any political ideology. They have also argued that Ripps‘ campaign is an attempt to silence the damaging conspiracy theory he has been pushing. They believe that Ripps has been attempting to exploit the NFT series for his own personal gain, and that the lawsuit is necessary to protect the intellectual property of Yuga Labs.

The case is currently still ongoing, with the hearing scheduled for Monday. It remains to be seen how the case will turn out, but it is clear that Yuga Labs is taking the matter seriously and is determined to defend its intellectual property. Whatever the outcome of the case, it is likely that Ryder Ripps‘ PR campaign will continue to be a source of controversy.