Despite bearish market conditions, Bitcoin hash rate hits new highs thanks to advanced mining hardware. Meanwhile, DeFi is under threat. (Via CointelegraphCS)
As stablecoins provide safe ways for traders to take profits, this crackdown is a major threat to the industry. Many fear that Paxos will not remain the only target and that these actions will become widespread. Labeling stablecoins as securities is a surprising move by the SEC, given that there are no obvious expectations of profit from them.
It remains to be seen whether the SEC’s action will be followed up with similar steps against Tether and its USDT stablecoin, which is allegedly being used by North Korea and Venezuela to evade sanctions. Other key developments in this area can be found in the Regulation and DeFi sections of this month’s Investor Insights Report from Cointelegraph Research.Cointelegraph’s Research department comprises some of the best talents in the blockchain industry.
Demelza Hays, Ph.D., is the director of research at Cointelegraph. Hays has compiled a team of subject matter experts from finance, economics and technology to bring the premier source for industry reports and insightful analysis to the market. The team utilizes APIs from various sources to provide accurate, useful information and analyses.
With decades of combined experience in traditional finance, business, engineering, technology and research, theis perfectly positioned to put its combined talents to proper use with the latest Investor Insights Report. The opinions expressed in this article are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.
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