The +2B $SWEAT reallocation vote has reached over 350,000 votes 🚨
Don't forget the vote will end today, at 1PM UTC ⏰
Head to the Sweat Wallet app now to make your voice heard!
#CryptoNews: The Hong Kong Monetary Authority (HKMA) has completed a public consultation on #stablecoin regulations and aims to introduce clear regulatory guidelines for the stablecoin market by the end of 2024. 🇭🇰
After 12pm UTC today, #Binance will be swapping 750M USDT-TRX for USDT-ETH directly with the Tether team to ensure stablecoin liquidity across all chains for our users.
If you see any significant movements of USDT from our wallets today, that's why.
Funds are SAFU.
#US Senator Bill Hagerty hinted at some congressional action against Gary Gensler and the #SEC for "weaponizing" their roles to kill the #cryptocurrency industry. https://t.co/CmVUGIdVZ3
Important dates for the industry coming up, MiCA has now been published in the official journal of the EU: https://t.co/JlXR89CYnQ
This means crypto businesses now have firm timelines to implement and be compliant with MiCA's requirements. Stablecoin rules apply from June 30, 2024 and rules for exchanges from December 30, 2024.
We're already preparing and will be ready. Exciting oppportunities ahead for compliant businesses in Europe.
“I believe that deep inside everybody, there’s something inside you that knows what the fuck it is you’re supposed to do with your life and no matter what anyone tells you, if you keep lookin’ and you keep diggin’ you’re gonna find it”
Happy Birthday to the one and only Axl Rose
With respect to Binance, I'm reading through the SEC complaint. It's over 130 pages, but seems like the next in a series of steps to implement chokepoint 2.0 in the United States. The end goal is a agenda based CBDC partnered with a handful of massive banks and end-to-end control over every aspect of your financial life.
A regulatory event is where you have a debate about compliance with a law or guidance. This event seems to be a polticial philosophical disagreement with the very existence of cryptocurrencies and what they represent. An unelected group of people have decided that concepts like self-sovereign identity, owning your wallet, and the freedom to control your economic agency should be removed from the masses and given to the "enlightened" few.
Honestly, what is happening isn't anything new. It's always the same fight between freedom and authoritarianism just with different players, technology, and words. It does seem like this event is a perfect opportunity for the entire industry to set aside it's fragmented nature and unite for a common sense set of rules and guidelines that can prevent the United States from slipping into a distopia that would make 1984 look like a vacation.
I'll have more to say later, but will close with we are going to be fine. Everything's alright and the future is bright for the industry.
The #SEC's attack on #Binance not only undermines the freedom and innovation of cryptocurrencies but also raises concerns about its role as a tool wielded by traditional banks to suppress the growth of digital currencies.