SEC’s "Crypto Mom" demands innovation, says you can’t prosecute an algorithm
The commissioner of the SEC, Hester Peirce, told an audience at CFC 2021 that crypto regulation should be focused on innovation, and that the U.S should be number one. SEC Commissioner Hester Peirce spoke at the CFC 2021 virtual blockchain conference on Jan. 20, where she discussed the prospect of working with a new Biden-appointed chairman, and touched on her hopes of providing the cryptocurrency space with some “safe harbor”.Known affectionately by cryptocurrency enthusiasts as “Crypto Mom”, Peirce addressed the changeover at the SEC that saw former chairman Jay Clayton depart his post....
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Firstly, let me start out by saying that we fully support the X11 Algorithm and that we do believe it is the future for many coins out there. Especially considering that Scrypt ASICs have already been spotted in the wild, and that there are new ASICs of an expected 250 MH/s! The X11 Algorithm has its flaws though (cons), but do they outweigh all of the pros? Without further ado, let's take a look at the pros and cons of the X11 Algorithm. Litecoin's supposed X11 Logo. Pros. First Pro of the X11 Algorithm? Security: The algorithm uses eleven hashing functions from the Blake algorithm to the....
U.S. Senator Margaret Hassan has requested that government agencies take “additional targeted steps to prevent and prosecute the use of cryptocurrency for criminal purposes.” She expressed her concern over “the rise in the use of cryptocurrency for criminal purposes.”
US Senator Requests Agencies Take Steps to Prevent and Prosecute Use of Crypto for Criminal Purposes
U.S. Senator Maggie Hassan wrote a letter to Attorney General Merrick Garland expressing her concern about the criminal use of cryptocurrencies Thursday. Garland is the 86th U.S. attorney....
The U.S. has launched the National Cryptocurrency Enforcement Team, an initiative of the Department of Justice (DOJ), to tackle and prosecute “criminal misuses of cryptocurrency, particularly crimes committed by virtual currency exchanges, mixing and tumbling services, and money laundering.” U.S. Deputy Attorney General Lisa Monaco said, “The point is to protect consumers.” DOJ’s New Crypto Enforcement Initiative U.S. Deputy Attorney General Lisa Monaco announced the creation of a National Cryptocurrency Enforcement Team (NCET) during a virtual speech at....
Quantum Economics founder Mati Greenspan has sounded the alarm over the damage the SEC’s case against LBRY could do to crypto. Quantum Economics founder Mati Greenspan has warned the SEC’s latest action against decentralized content platform LBRY could threaten the future of all cryptocurrencies. According to the complaint filed by the SEC on March 29, LBRY is alleged to have offered and sold millions worth of unregistered securities through LBRY Credit tokens since 2016. The company has disputed the SEC’s accusations, as they state their tokens are utility-focused and not for speculation.....
The cryptocurrency world has been adapting to the current demands and generating new consensus algorithms with better functionalities. The first consensus algorithm was the Proof of Work algorithm, but today there are various protocols such as Proof of Stake and Proof of Space. Specific consensus algorithms offer certain advantages over others. For example, the Proof of Stake algorithm is a more secure, faster and cheaper consensus protocol than Proof of Work. LaneAxis, the world’s freight brokerless direct freight network, utilizes a Proof of Stake algorithm to ensure quick transactions....