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SEN. WARREN ADVISES 75BPS FED CUT ON RECESSION FEARS

Despite rhetoric about a strong U.S. economy, three Democratic Senators urged the Federal Reserve to implement an aggressive monetary policy shift.

Crypto-skeptic U.S. Senator Elizabeth Warren of Massachusetts called on the Federal Reserve and its chair, Jerome Powell, to slash interest rates by 75 basis points to curtail recession risks. Warren’s letter, co-signed by fellow Senators Sheldon Whitehouse and John Hickenlooper, warned of potential economic declines that smaller funding cuts may usher in.

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LAWMAKER CALLS ON CFTC TO REGULATE ELECTION MARKETS AS POLYMARKET ACTIVITY FALTERS AMID UNCERTAINTY

Lawmaker warns that banning election betting could fuel illegal platforms, threatens election integrity.

Congressman Ritchie Torres has called on the Commodity Futures Trading Commission (CFTC) to regulate election-related prediction markets rather than blocking them.

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RIPPLE NEWS:  SEC’s Decision on Crypto Classification Ends XRP Lawsuit Appeal

In a major win for Ripple and the crypto industry, the SEC has officially decided not to appeal the XRP ruling, according to WallStreetBulls. This move marks the end of the highly publicized legal battle that’s loomed over Ripple’s future since December 2020.

The case, which revolved around whether XRP was an unregistered security, cast a shadow over Ripple and its market operations for nearly three years. However, with the SEC backing down, Ripple can now move forward without fear of further legal challenges.

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Russia All Out For Crypto Regulation, US Dollar Dominance Under Threat?

In order to combat strain in international trade, Russia has plans to complete crypto regulation and to properly combat USD dominance

▪️Russia is pushing forth in its crypto regulation and adoption agenda

▪️The country aims to finalize its crypto regulation push by November

▪️The aim is to use these assets for international trade settlement

Russia is making big plans for crypto regulation in the region by November. Notably, the process has already commenced but will be finalized in the next few months. 

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BREAKING: RIPPLE CLO CONFIRMS XRP VS. SEC CASE IS FINALLY OVER-$5 NEXT?

▪️Ripple’s legal battle with the SEC concludes, marking a significant moment for the cryptocurrency industry.

▪️Future SEC cases involving digital assets may take into account the fair notice defense that Ripple used.

Stuart Alderoty, Ripple’s Chief Legal Officer, has officially declared the end of the company’s long-running legal battle with the United States Securities and Exchange Commission (SEC), as has been highlighted by blockchain researcher Collin Brown.

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XRP Ledger Set for Upgrades as Amendments Secure Majority

XRP Ledger (XRPL) might be poised for significant upgrades in the days ahead as key amendments have recently gained majority support from the network's validators.

On XRP Ledger, fully functional transaction process changes are introduced as amendments and validators vote on them. According to Vet, an XRPL dUNL validator, two XRP Ledger amendments just gained the majority and are now in the two-week activation period. These two amendments are fixPreviousTxnID and fixEmptyDID, a crucial amendment required before the DID amendment.

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Positioning for growth in Hong Kong’s evolving digital assets markets

Hong Kong has evolved rapidly into a global beacon for the issuance and trade of digital assets, with investors attracted to the city’s growing liquidity and to incentives and guardrails provided by a proactive regulator.

Innovation within the space has seen not only crypto spot and futures ETFs flourish, but also the issuance of the world’s first blockchain-based, multi-currency green bond. 

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Legal Experts React as SEC Regrets Confusion Over Its Crypto Asset Security Claim

The U.S. SEC expresses regret for any confusion it may have created through the use of its invented term, “crypto asset securities.”

In an interesting development, Coinbase’s Chief Legal Officer (CLO) Paul Grewal called the public’s attention to the SEC’s recent efforts to backtrack on its claim that crypto assets themselves constitute securities.

SEC Regrets Confusion Over Its Crypto Asset Security Definition

Per Grewal, the SEC made this move in footnote six of the amended complaint in the Binance lawsuit.

Notably, the SEC said it regrets any confusion it may have invited by repeatedly using the term “crypto asset securities.”

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Legal Experts React as SEC Regrets Confusion Over Its Crypto Asset Security Claim

The U.S. SEC expresses regret for any confusion it may have created through the use of its invented term, “crypto asset securities.”

In an interesting development, Coinbase’s Chief Legal Officer (CLO) Paul Grewal called the public’s attention to the SEC’s recent efforts to backtrack on its claim that crypto assets themselves constitute securities.

SEC Regrets Confusion Over Its Crypto Asset Security Definition

Per Grewal, the SEC made this move in footnote six of the amended complaint in the Binance lawsuit.

Notably, the SEC said it regrets any confusion it may have invited by repeatedly using the term “crypto asset securities.”

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New Bill Seeks To Reconcile Regulatory Division Between SEC and CFTC

The bill would establish a 20-person committee of independent stakeholders tasked with advising both the SEC and CFTC.

A new bill introduced to Congress aims to bridge the regulatory divide between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) concerning cryptocurrency.

On Sept. 10, Republican Congressman John Rose, a member of the House Financial Services Committee, proposed the BRIDGE Digital Assets Act, which seeks to establish a Joint Asset Advisory Committee on digital assets.

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IOTA NEWS: DON’T MISS OUT – IOTA’S EUROPEAN BLOCKCHAIN PCP SUCCESS SIGNALS BULLISH Q4

▪️IOTA completed the final phase of the European Blockchain PCP as one of the three finalists, setting the network up for a defining fourth quarter of 2024.

▪️The network has been pushing to make a mark in DeFi, where TVL hit $5 million this month, with a prospective integration with Uniswap’s DeFi network a potentiaal gamechanger.

It’s been a great year for IOTA. In the recent months, it has completed its final phase of the European Blockchain Pre-Commercial Procurement pilot while its DeFi TVL hit a new record this month, setting it up for a bullish fourth quarter of the year.