Coinbase claimed that it had "no duty" to enable compliance with the SEC's rules and that it believed the commission's rules were "sufficiently enforceable," so it took legal action against several companies in the industry for violating them.
The exchange also reminded the court of the SEC's stance that it has stymied the digital assets industry and #SEC members hope the new technology will die out.
đŽ Joe Biden vetoed congress that did not approve the SEC's controversial SAB 121 crypto rule, which required financial institutions to include customers' digital assets on their balance sheets.
đ Why is it important:
Crypto Custody Costs: Repeal of SAB 121 will reduce the costs for banks to offer crypto custody services
Market Reaction: Veto could scare the market, repeal could boost #kripto investment and confidence
Political Drama: A veto could lead Congress to attempt an override, increasing legislative tensions as FIT 21 comes into play.
đŽ 1 Billion Tokens Will Be Unlocked Today at #XRP âïž
Within the escrow system, 1 billion XRP was unlocked from the wallet addresses 'Ripple (24)' and 'Ripple (25)' on May 1. After this, Ripple covered the company's expenses in order to sell the company, 200 million tokens were not locked again. The remaining 800 million tokens were locked again to be opened in September 2027.
â ïž So, the real question is will XRP decline?
Since it will receive 1 billion Token sales, it may cause a decrease in the price of XRP. It would be good for you to be careful.
đŽ Following the incident where Bybit users received their #Notcoin tokens late, making it impossible to sell them at will, many Bybit executives "voluntarily resigned." The exchange is now hiring new technical and spot managers.
These communication and technical issues affected 320,000 users and resulted in $23 million in damages.
đŽ Innopolis Tech will build a mining farm in Tatarstan with a budget of approximately 100 million dollars. The project will be the largest in Russia with a total hashrate of 3 EH/s.
đ #Blockchain According to the report of security firm Immunefi dated May 30, #kripto losses due to fraud and hacks decreased by 12 percent compared to last year.
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