The cryptocurrency market is making a comeback , after closing out yesterday morning in the red. Crypto news was pretty slow last month, but it has selected a bit today. Today, CoinCenter released news which the SEC Chairman?confirmed that ETH just isn’t ruled being a security by regulator. In addition to this big news, Binance announced it has added XRP and credit card payment support for your Trust Wallet app.
Let’s get into it!
Jay Clayton Rules ETH a “Non-Security”
When investors began taking notice of digital currencies in mid-2019, the US Securities and Exchange Commission started researching and commenting within the industry too. The SEC’s main objective is to protect investors, facilitate capital formation, and gaze after fair, efficient, and orderly markets. Jay Claton, the SEC’s Commissioner, hasn’t been shy in voicing his take a look at digital currencies from the beginning.
The SEC was mostly concerned with Initial?Coin Offerings (ICOs) and made definitive decisions on whether coins offered in such a fundraising method were controlled by SEC rules and considered an official ‘security.’ Now it appears to be the official consensus on the SEC regarding other digital currencies was published on March 7th, when Clayton addressed US Representative Tedd Budd within a statement.
In the state statement, Clayton confirms that ETH and cryptocurrencies are pleased aren’t securities under US law. This is the win on your cryptocurrency community, nonetheless news is?not completely surprising, considering Clayton has held an identical stance for many years.
Binance Wallet Adds XRP and Bank card Purchase Support
Another little bit of large crypto news released today surrounds Binance, the world’s hottest cryptocurrency exchange by 24-hour trade volume.
Trust Wallet, the wallet with the crypto exchange, has recently added support for visa or mastercard purchases and XRP. Last July, Binance acquired Trust Wallet from the company’s first public acquisition. Currently, the Trust Wallet supports BTC, ETH, LTC, XRP, and BCH. Binance’s main wallet also holds support to get a ERC20, ERC223, and ERC721 tokens.
Users may now use their plastic card on the Trust Wallet app to purchase digital currencies. Adding this selection now makes it easier for investors to shop for and use digital currencies.