After a six year hiatus, Stripe is returning to crypto, allowing merchants to accept stablecoins for online payments.
Block gets one percent of every conversion.
Bitcoin bulls tend to celebrate when BTC’s funding rate is negative, but is it really a “generational buying opportunity?”
Morgan Creek Capital CEO Mark Yusko believes the full impact of Bitcoin ETF adoption has yet to be realized, as boomers will continue to gain more exposure to digital assets.
Web provider GoDaddy has introduced a smaller point-of-sale (POS) tool for small businesses that is designed to fit inside an apron pocket.
The post Consensys Sues SEC To Protect Ethereum, Claims ETH Not A Security appeared first on Coinpedia Fintech News ConsenSys has taken on the U.S. Securities and Exchange Commission (SEC) by filing a lawsuit in Texas federal court. The case focuses on the classification of Ethereum’s Ether as a security. ConsenSys argues this designation could harm the entire Ethereum network, posing significant risks to its functionality and innovation. This lawsuit not only challenges regulatory overreach but also aims to protect the foundational areas of the Ethereum ecosystem. Consensys Comes Amid Ethereum ETF Battle Software development firm ConsenSys has initiated a lawsuit against the U.S. Securities and Exchange Commission (SEC) and its five commissioners, accusing them of attempting to regulate Ether (ETH) as a security. Consensys is suing the SEC!Where? Texas Federal court.Why? To prevent an impending lawsuit over MetaMask wallet features being an labeled as an unlicensed broker dealer AND to argue that $ETH is not a security. @Consensys might just be the hero we need. pic.twitter.com/Y8ZxWzPci2— Ariel Givner, Esq. (@GivnerAriel) April 25, 2024 In a legal filing dated April 25 in the U.S. District Court for the Northern District of Texas, ConsenSys claims that the SEC is leading a concerted effort to dominate the future of cryptocurrencies through enforcement actions that would classify Ether as a security. The company pointed to past statements by SEC Chair Gary Gensler and the agency’s previous acknowledgements in 2018 that ETH was not a security, highlighting the severe implications for businesses that have been established based on this regulatory understanding. The filing said, “The SEC’s unlawful seizure of authority over ETH would spell disaster for the Ethereum network, and for Consensys. Every holder of ETH, including Consensys, would fear violating the securities laws if he or she were to transfer ETH on the network. And the ability of anyone new to acquire ETH to use Ethereum’s repository of decentralized applications and services would be extinguished. This would bring use of the Ethereum blockchain in the United States to a halt, crippling one of the internet’s greatest innovations.” Consensys founder said, “They are trying to regulate a technology on its merits, which the SEC shouldn’t be doing. They’re trying to stifle certain kinds of innovation. And they’re trying to do that because probably they see Ether spot ETFs as a floodgate that’s going to bring a lot of capital into our ecosystem.” SEC’s Aggressive Actions On Crypto The recent lawsuit emerges in the context of an intensified enforcement drive by SEC Chairman Gary Gensler against major players in the cryptocurrency industry, such as Coinbase and Uniswap. Over the past few weeks, this initiative has seen a flurry of subpoenas directed at various companies and developers. These subpoenas demand documents concerning their interactions with the nonprofit Ethereum Foundation, which plays a crucial role in the development of the blockchain. The lawsuit filed by Consensys on Thursday disclosed that earlier in the month, the SEC had sent them a Wells Notice, a formal notification indicating the agency’s intent to initiate legal action, which typically precedes a settlement. In a subsequent phone conversation, the SEC accused MetaMask, operated by Consensys, of functioning as an unlicensed broker-dealer. Consensys also noted that the SEC’s concerns came from MetaMask enabling users to stake Ethereum.
Consumer spending slowed and charge-offs rose during the first quarter, but Bread Financial said a pending late-fee rule may not be as devastating to its revenue as the Columbus, Ohio-based firm initially feared.
The post Ripple Price Drops As Bearish Clouds Gather! XRP To Test $0.48 Soon? appeared first on Coinpedia Fintech News The crypto market displays significant price volatility as top tokens record increased price action post-Bitcoin Halving. Top altcoins witness a pullback toward their support levels, indicating a mixed sentiment in the crypto space. However, the XRP price continues to experience a bearish price action, indicating a rise in the investor’s disinterest. Despite the altcoin recording a jump of over 6% past week, it has experienced a strong bearish price movement this week. Ripple Token Records A Strong Bearish Trend: The XRP price has displayed a volatile price movement since the year started, indicating an increase in the price action for this altcoin. Despite a bullish start to the year, Ripple’s price has a YTD of -14% in valuation, highlighting a bearish outlook for the altcoin in the long-term perspective. TradingView: XRP/USDT The XRP token has corrected roughly 2% within the past 24 hours. Moreover, the Cross EMA 50/200-day has displayed a Death Cross in the 1D time frame, suggesting the price will continue losing value this week. The Relative Strength Index (RSI) shows a bearish price action in the chart, highlighting increased selling-over-buying pressure in the cryptocurrency industry. Moreover, the averages display a constant downtrend, indicating a weak price action for the altcoin in the coming time. Will XRP Price Ever Go Up? If the market displays a bullish reversal, the XRP price will test its resistance level of $0.56 by the coming weekend. Maintaining the price at that level will set the stage for the Ripple token to attempt to test its upper resistance level of $0.64 during the coming month. Negatively, bearish price action could result in Ripple’s XRP token testing its support level of $0.4790. Moreover, if the bulls fail to regain momentum at that point, the XRP token could further fall and test its new lows this year.