DeFI News by Thebittimes.Com

Hester Pierce, the United States Securities and Exchange Commissioner, popularly known in the crypto space as “Crypto Mom,” continues advocating for agendas related to non-fungible tokens within the crypto regulatory commission. In her latest crypto push, the SEC commissioner has advocated that non-fungible tokens, especially those designed to compensate their digital art creators over time, should not be considered as securities. Most NFTs Are Not Securities In a May 19 blog post, Hester Pierce, the commissioner at the United States Securities and Exchange Commission, shared her thoughts on crypto and non-fungible token products. Before starting, Pierce has put a disclaimer that her views are her own as a commissioner and do not necessarily coincide with those of the Commission or her fellow Securities and Exchange Commissioners. Here's what the Crypto Task Force has been doing and some things we're thinking about: https://t.co/YHXAYhr23P — Hester Peirce (@Hester...

Friend.tech, the first popular app on Coinbase’s corporate Ethereum roll-up Base , allows users to purchase ‘shares’ in X (formerly Twitter) influencers. It also allows them to buy access to a special chat wherein other speculators deposit ETH and trade to increase or decrease their allocation to the influencer. Basically, Friend.tech is similar to BitClout, or its predecessor Income Sharing Agreements. However, given the millions of dollars at stake, attorneys are already questioning whether the app’s founders or influencers actually offered these shares as SEC urities without registering their offering with the Securities and Exchange Commission ( SEC ), as required by law. Friend.tech shares (now called ‘keys’) represent fractional ownership of Friend.tech influencers’ X profiles and most people bought them in the hopes of making money. Keys also grant users the opportunity to chat with other keyholders. In these chats, users may discuss any topic b...

The claim was made by the US SEC in the recent charges filed against Binance Exchange and cryptocurrencies it listed including Binance Coin (BNB), Binance USD (BUSD), Solana (SOL), Cardano (ADA), Polygon (MATIC), Filecoin (FIL), Cosmos (ATOM), The Sandbox (SAND), Decentraland (MANA), Algorand (ALGO), Axie Infinity (AXS) and COTI. advertisement Many hypotheses are ongoing in the industry following Binance crackdown and declaration with speculations of lawsuits similar to that of Ripple Lawsuit likely.  In a similar way, US SEC filed a lawsuit against Ripple calling XRP token an unregistered security. While, the main intention of SEC remains hidden, it is possible SEC may target parent companies holding these tokens similar to Ripple. While this assumption is hard to predict, here are three other possible aftermaths of this move by the SEC on the named assets. Crypto Exchange Delisting in US This is arguably one of the most troubling possible aftermath of th...