SEC Chair Gary Gensler Grilled Over Agency’s Approach To Crypto – April 18

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$30,262

Bitcoin price has reclaimed the $30,000 level Tuesday, as price bounces strongly from the $29,000 mark.

Top-20 altcoins are also mostly in the green over the last day of trading, as Ether and BNB each gain 1%, XRP rises 2% and Chainlink leads with a 6% jump.

Top Stories for April 18, 2022 🔥

👉 SEC Chair Gary Gensler Grilled Over Agency’s Approach To Crypto

House Republicans have grilled Securities and Exchange Commission (SEC) Chair Gary Gensler on the lack of clarity over whether or not Ether is a security, stablecoins regulations, and the agency’s handling of FTX.

Gensler responded by saying that securities laws are clear, but that he had never seen a field so non-compliant with laws.

The status of Ether remains uncertain, with Gensler implying that Ether, and any other proof-of-stake cryptocurrency, could be considered a security – seeming to disagree with past views of senior commission officials on the world’s second-largest digital asset.

👉 Coinbase May Move Out Of US If Regulations Remain Unclear

Coinbase CEO Brian Armstrong has indicated that the company may consider relocating away from the US if the regulatory environment for the cryptocurrency industry does not become clearer.

He compared the UK’s regulatory environment, which is governed by a single regulator, the Financial Conduct Authority, with the US, where there are separate bodies for commodities and securities.

Armstrong also spoke of the potential for blockchain technology beyond cryptocurrency, particularly in decentralized identity and social media.

👉 Notice For Binance Users: ETH Deposit Addresses Are Changing

Binance, the world’s largest cryptocurrency exchange by trading volume, is retiring multiple old deposit addresses on several blockchains, including Ether, Tron, BNB, and Stellar.

Binance stated that this was a routine and part of its efforts to enhance security and efficiency for its users. Users of the impacted deposit blockchain addresses will be notified via email, and the exchange recommends obtaining a new address and memo upon receiving the notification.

The migration is scheduled for between April and June 2023, and Binance assured users that funds sent to expired addresses would not be lost.