Germany's BaFin suspends Ethena's new USDe token issuance business, citing significant compliance flaws

JUST IN: 🇺🇸 President Trump's Executive Director of Digital Assets says "Bitcoin is digital gold and should be treated as such."

According to BlockBeats, on March 22nd, at the first cryptocurrency industry roundtable meeting held by the US Securities and Exchange Commission (SEC), former director of the SEC's Office of Cyber Enforcement, John Reed Stark, strongly opposed amending existing securities regulations for digital assets. He stated that there was no need to compromise on cryptocurrency under the Securities Laws of 1933 and 1934, and digital assets should continue to be considered securities. People who buy cryptocurrencies are not collectors, they are investors. The SEC's responsibility is to protect investors Stark said. He pointed out that cryptocurrency companies have hired top global law firms in an attempt to delay the enforcement process, but have lost almost all cases. Stark also claims that compared to past technological revolutions such as the iPhone, he has not seen any real innovation in digital assets. Stark has long been a staunch critic of the cryptocurrency industry, describing the collaboration between NBA team Dallas Mavericks and cryptocurrency company Voyager as "working with a heroin manufacturer. He supports former SEC Chairman Gensler's "enforcement style regulation" and insists that the cryptocurrency industry must comply with current laws, rather than demanding that the law make way for it.

The price of Binance AUCTION/USDT has reached a historic high, currently trading at $57.6, up 21.54% in 24 hours, with a turnover of $85.36 million. After reaching a new high in price, there is a high probability of a price correction. (AiCoin Research Institute)

Decentralized social media protocol Farcaster has launched the mainnet for its “blockchain-like” data layer called Snapchain.The launch coincided with the debut of Farcaster’s “Airdrop Offers” program, which rewards active use of the decentralized social media platform.

The SEC’s approach to crypto wasn’t working, said a16z crypto General Counsel Miles Jennings at the roundtable. The SEC has a new beginning and a “restart of the Commission’s approach to crypto regulation,” Commissioner Hester Peirce said on Friday.