{"id":20179,"date":"2023-07-23T02:07:44","date_gmt":"2023-07-23T02:07:44","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/sec-reviews-ripple-ruling-us-bill-seeks-control-over-defi-and-more-hodlers-digest-july-16-22\/"},"modified":"2023-07-23T02:07:49","modified_gmt":"2023-07-23T02:07:49","slug":"sec-reviews-ripple-ruling-us-bill-seeks-control-over-defi-and-more-hodlers-digest-july-16-22","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/sec-reviews-ripple-ruling-us-bill-seeks-control-over-defi-and-more-hodlers-digest-july-16-22\/","title":{"rendered":"SEC reviews Ripple ruling, US bill seeks control over DeFi, and more: Hodler\u2019s Digest, July 16-22"},"content":{"rendered":"
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Top Stories This Week<\/strong><\/h2>\n
Chair Gensler says SEC reaction to Ripple decision is mixed, still under consideration<\/strong><\/strong><\/strong><\/strong><\/h2>\n
U.S. Securities and Exchange Commission Chair Gary Gensler has commented publicly about the recent ruling on the agency\u2019s suit against Ripple, saying the SEC is \u201cstill looking at it and assessing that opinion.\u201d Gensler declined to comment further on the case, but said the commission is pleased with the court\u2019s decision stating that XRP was a security when sold to institutional investors, but disappointed with the non-security ruling for retail investors and other XRP distributions. Comments made by the regulator on July 21 in a lawsuit hinted that it might appeal the decision. In the crypto community, however, some believe it is unlikely to happen as the SEC benefits from the \u201ccurrent confusion.\u201d<\/p>\n
Bipartisan bill to regulate DeFi, crypto security risks introduced into US Senate<\/strong><\/strong><\/strong><\/strong><\/h2>\n
A bipartisan bill was introduced into the U.S. Senate, tightening regulations and sanctions requirements for decentralized finance (DeFi). The bill would subject DeFi operations to the same requirements as \u201cother financial companies, including centralized crypto trading platforms, casinos, and even pawn shops.\u201d The proposal also makes \u201canyone who controls that project\u201d liable for the use of the DeFi service by sanctioned persons. The bill also set new requirements for operators of crypto kiosks (or ATMs) to prevent their use in money laundering. Kiosk operators would be required to verify the identities of both counterparties in a transaction.<\/p>\n
Altcoins \u2018bled\u2019 as Bitcoin gained dominance in Q2: CoinGecko<\/strong><\/h2>\n
The second quarter of the year has been a solid one for Bitcoin\u2019s performance as its market dominance gained against altcoins, which \u201cbled\u201d throughout the period, according to CoinGecko\u2019s industry report. Bitcoin (BTC) and Ether (ETH) continued to build their market share over the past months, while Binance Coin (BNB), XRP (XRP), and Cardano (ADA) suffered double-digit losses over the quarter. DeFi tokens were hit particularly hard during the quarter, with Uniswap (UNI), Chainlink (LINK) and Lido (LDO) taking double-digit losses as well. The top five metaverse and play-to-earn tokens by market cap also marked losses up to 40%.<\/p>\n\n