SEC Lowers Fine Against Decentralized Content Platform LBRY: Lessons for Companies

The United States Securities and Exchange Commission (SEC) has recently revised its punishment against LBRY, a decentralized content platform. The SEC has acknowledged that the company is unlikely to pay the original amount it was ordered to pay and has requested a lower fine. This case highlights the importance of companies understanding and complying with securities regulations to avoid legal and financial consequences. It also raises questions about the role of decentralized content platforms in the larger landscape of securities law.

The Legal Battle between LBRY and SEC:

The SEC filed a civil suit against LBRY in March 2021, alleging that the firm’s sale of its token LBRY Credits (LBC) constituted an unregistered securities offering. The SEC won the case in November 2022, and the preceding judge ruled that LBC was indeed a security. LBRY had claimed that the SEC’s request for $22 million was vastly overstated and failed to consider any of the firm’s legitimate business expenses.

SEC's Response and LBRY's Future:

In response, the SEC sought a compromise, recognizing that LBRY is defunct, ceasing operations, and without the funds to pay a larger fine. The SEC has also requested that LBRY be stopped from conducting future unregistered offerings of crypto asset securities. LBRY, in a statement, had said that it would likely be dead in the near future due to being “killed by legal and SEC debts.” The firm’s lack of funds and near-defunct status was also acknowledged by the SEC, leading to the request for a lower fine.

Takeaways:

Companies must understand and comply with securities regulations to avoid legal and financial consequences.

Decentralized content platforms need to navigate the legal and regulatory landscape effectively.

SEC's actions could discourage the development and adoption of decentralized content platforms, which would be detrimental to innovation in the industry.

Conclusion:

The SEC's action against LBRY emphasizes the importance of complying with securities regulations. Failure to do so can result in significant legal and financial consequences, as seen in LBRY's case. Companies must understand the securities laws that apply to them and take steps to ensure compliance to avoid legal and financial troubles. Decentralized content platforms need to navigate the legal and regulatory landscape effectively to continue innovating and contributing to the industry.

Hey, it's CryptoPatel here!

I'm passionate about providing you with the latest insights and analysis on the world of cryptocurrencies.

If you enjoy my content and want to show your support, please like, share, and follow me for more high-quality updates.

Thank you for your support, and let's continue to stay connected for more exciting content!

LIKE ❤️

Share ⏩

Follow 🤝

#BTC #eucryptotaxplans #crypto2023 #Educational #feedfeverchallenge

Just months ago anyone who wanted to buy NFTs or Altcoins 90% of the time needed to purchase it on the eth network however Ordinals came out and they are a form of NFT but on the Bitcoin network, same thing with altcoins, it seems now that altcoins can be created on the BTC network.

Eth was the king of altcoins because it was the most decentralized smart contract chain but now that Bitcoin, a totally decentralized network is capable of supporting altcoins, what is the point of making them on Eth? This leaves eth as another cardano in the eyes of people who are looking for the most decentralized network.

What are your thoughts on eth now that BTC blockchain supports altcoins and NFTs?

#feedfeverchallenge #crypto2023 #dyor #BTC #eucryptotaxplans

Shiba inu moved close to a five-month low on Friday, as meme coins reacted to news that Elon Musk has found a new Twitter CEO. Musk tweeted, "Excited to announce that I've hired a new CEO for X/Twitter. She will be starting in ~6 weeks." Dogecoin neared a two-month low today.

#BTC #crypto2023 #SHIB #DOGE #eucryptotaxplans

The US Chamber of Commerce has criticized the Securities and Exchange Commission (SEC) for its "haphazard" approach to regulating the cryptocurrency industry. 

SEC Has Muddied The Waters: USCC

The United States Chamber of Commerce (USCC), representing over three million businesses across the United States, released a statement on Wednesday accusing the SEC of creating confusion and uncertainty in the industry.

According to the statement, the SEC's lack of clear guidelines and inconsistent enforcement actions have hindered innovation and investment in the cryptocurrency space. 

Excerpts from the statement read, 

“As it stands today, nobody knows for certain which digital assets, if any, are 'securities' under federal law…The SEC has deliberately muddied the waters by claiming sweeping authority over digital assets while deploying a haphazard, enforcement-based approach. This regulatory chaos is by design, not happenstance.”

USCC Stands With Coinbase

The Chamber of Commerce urged the SEC to provide clear and consistent regulatory guidance to help businesses navigate the complex and rapidly evolving cryptocurrency landscape.

The statement is part of an amicus brief in the Coinbase vs. SEC legal battle, where the Chamber of Commerce has extended its support to the crypto exchange. The term "amicus brief" is of Latin origin and means "friend of the court," referring to guidance or knowledge shared by external parties who are not directly involved in a particular court case.

USCC Calls Out “Unlawful” SEC Actions

Metaverse attorney James Murphy, who is active on Twitter as MetaLawMan, has pointed out the significance of the Chamber of Commerce standing up for crypto and against the regulatory body, going as far as calling its actions unlawful. Since this organization is much more influential than the Chamber of Digital Commerce, Murphy believes its arguments will have more weight in the court. 

Murphy writes,

“The Chamber makes 3 arguments - (1) Regulatory uncertainty is killing innovation in the U.S. (2) The SEC is destabilizing the digital assets regulatory environment. (3) The SEC is violating Constitutional Due Process and Fair Notice rights.            

SEC’s Anti-Crypto Crackdown

The SEC has been grappling with how to regulate cryptocurrencies for years. While some lawmakers and regulators have called for stricter industry oversight, others have argued that heavy-handed regulation could stifle innovation and hinder the sector's growth.

The Chamber of Commerce's statement comes amid a flurry of regulatory activity in the cryptocurrency space. Back in 2020, the SEC filed a lawsuit against Ripple Labs, alleging that the company had conducted an unregistered securities offering. Ripple has denied the allegations and vowed to fight the lawsuit. 

More recently, the regulatory body has targeted the Bitcoin mining company Marathon Digital over allegations of securities law violation. 

#feedfeverchallenge #BTC #dyor #crypto2023 #eucryptotaxplans

While blockchain and cryptocurrencies may transcend borders, the regulatory framework varies hugely from country to country and what is permitted in one jurisdiction may be prohibited in another.

Dusk Network is dedicated to enabling secure, compliant, and scalable decentralized finance and facilitating the tokenization of securities and other financial instruments. While our focus has largely been on Europe due to its significance for our target audience and the impact of the upcoming MiCA regulations on the blockchain industry in the region, we are actively monitoring and staying up to date with evolving global regulations dealing with blockchain. Ryan King, Head of Business Development, wrote extensively about MiCA in this 5-part series (click here for part one) if you would like a deep-dive into what’s going on in the EU.

Though the US typically dominates the news, different countries have different needs and situations and as such are responding to cryptocurrencies and blockchain in different ways, with some making steps towards adopting the technology, others creating business-friendly environments with taxes, and others being HODLers themselves.

#feedfeverchallenge #BTC #dyor #crypto2023 #eucryptotaxplans

Even while facing the wrath of the US government, regulators, and mainstream press, Bitcoin and crypto continue to hold strongly.

Mainstream Press Down On Crypto: Hardly a day goes by when yet another article appears in the mainstream press heralding such and such a misdemeanor in the crypto sector. Whether it be that Bitcoin uses more energy than this or that country or another crypto exchange is sent a notice informing it of impending litigation from the SEC.

Everything appears designed to malign the crypto industry and make it seem that it is all a den of thieves and brigands. Perhaps the strategy is that while the public is fed such ideas by the mainstream press, this can help to take the focus off of what is happening in the banking industry.

Banking Sector Dead In The Water It would seem a decent strategy considering the widespread decay to be found in the banking sector. Many banks are underwater after buying long-term bonds when the interest rate was at zero percent. Now the US is looking at 5.25% these banks are severely in debt.

Regulators allowed these banks to not have to mark to market these losses and so that is why many banks are where they are today. If such goings on were happening in crypto it can be assured that a full account would be plastered across the mainstream press.

It is no longer a mystery as to why the Biden administration is pursuing the crypto industry with such fervor. With the banks under such extreme duress, there is the chance that the public starts to get wise and begins to put part of its wealth into Bitcoin. Bitcoin Is The Logical Play Once it's known that you cannot get wealthy on dollars (or any other fiat currency) and that inflation and money printing is stripping away purchasing power, a move into sound monies such as gold, silver, and Bitcoin is the most logical step.

Bitcoin has started the week well and is up 1.75% at the time of going to press. There may be downside still to come but if Bitcoin can stay above the $25,000 support level another surge upwards could be on the cards. The weekly Stochastic RSI is on the way down and when it gets to the bottom and turns up, the momentum would likely give a strong impetus to price. The rest of the cryptocurrency market is also in the green for the start of the week. Some cryptocurrencies have already seen a resetting of the RSIs so perhaps some breakouts could happen over the next few days.

#feedfeverchallenge #BTC #dyor #crypto2023 #eucryptotaxplans

DISCUSSION

So I was sending some Bitcoin and the fee was 7$, much higher than the usual 1$, i set the fee to 3$ and thought it’d be fine. It's been multiple days now, and it hasn’t transferred.

And looking at the bitcoin average fee now, it's upwards of about 30$ which is insane

I heard that there’s something going on right now that's taking up all the network thus causing the very high average fees.

I was wondering though, if you all want crypto to become the standard currency worldwide as the dominating one, then how will all the traffic that would bring not cause the same, or worse network traffic of now and cause insanely high fees that will end up making it worse than normal currency?

Also, I know there are cryptos with no fees and are near instant, but why didn’t those become the norm / most popular, and instead bitcoin is?

Curious about your thoughts. I'm quite a newbie on this so I’m not sure if this all is a stupid question.

#feedfeverchallenge #crypto2023 #dyor #BTC #eucryptotaxplans

Bitcoin's Recent Correction: Technical or Temporary Weakness?

Introduction: Bitcoin's recent spot price correction has taken many traders by surprise, accompanied by a sudden drop in liquidity. Despite the weakness, BTCUSD has still recorded a 64 percent year-to-date climb. In this article, we will delve into the factors supporting the notion that the recent correction is primarily technical, as Bitcoin's on-chain fundamentals remain promising.

Source:- Cryptoquant

Bitcoin's 200-Day Moving Average Support

The 200-day moving average (200DMA) has acted as a crucial support line for Bitcoin.

In January, Bitcoin decisively crossed the 200DMA, and it played a vital role in March's V-shaped recovery.

With the current spot-related weakness, the expectation is that BTCUSD will find support once again at the 200DMA.

Accumulation and Distribution Phases

Bitcoin's market behavior can be categorized into accumulation (turquoise) and distribution (purple) phases, forming multi-year cycles.

Institutional money typically favors accumulation cycles, while retail investors are active during distribution cycles.

Bitcoin's history is also characterized by halving events, preceded by pre-halving accumulation cycles (turquoise).

On-Chain UTXO Waves Supporting Price

Bitcoin's older UTXO waves, specifically the 2Y-3Y (blue) and 3Y-5Y (yellow), provide support for the spot price.

The 2Y-3Y wave commenced its accumulation phase in 2022 after a prolonged period of stagnation.

The 3Y-5Y UTXO wave has recently shifted its trajectory upward, indicating accumulation among long-term horizon investors, also known as "smart money."

Conclusion:

Despite the recent technical correction, Bitcoin is backed by multiple on-chain and fundamental tailwinds. The 200-day moving average continues to act as a support line, while the market's accumulation and distribution phases offer valuable insights into investor behavior. The UTXO waves further support the positive outlook for Bitcoin's price. With the 2024 halving approaching and expectations rising, Bitcoin is firmly situated in its pre-halving accumulation cycle. Stay tuned and don't miss out on the potential opportunities ahead.

Takeaways:

Bitcoin's recent correction appears to be technical, with on-chain fundamentals remaining promising.

The 200-day moving average acts as a crucial support level for Bitcoin's price.

Bitcoin's market behavior is defined by accumulation and distribution phases, influenced by institutional and retail investor participation.

On-chain UTXO waves, such as the 2Y-3Y and 3Y-5Y cohorts, indicate accumulation and support for Bitcoin's spot price.

The upcoming 2024 halving event adds to the positive sentiment, positioning Bitcoin in its pre-halving accumulation cycle.

Hey, it's CryptoPatel here!

I'm passionate about providing you with the latest insights and analysis on the

world of cryptocurrencies.

If you enjoy my content and want to show your support, please like, share, and follow me for more high-quality updates.

Thank you for your support, and let's continue to stay connected for more exciting content!

LIKE ❤️

Share ⏩

Follow 🤝

#BTC #eucryptotaxplans #crypto2023 #feedfeverchallenge #CryptoPatelOnchain

10 Key Elements for Successful Cryptocurrency Trading

Cryptocurrency trading has gained immense popularity in recent years, attracting both experienced investors and newcomers to the digital asset market. However, to trade cryptocurrencies successfully, one must approach it with a strategic mindset and effective risk management practices. In this article, we will explore the ten key elements necessary for successful cryptocurrency trading and emphasize the importance of risk management throughout the process.

Understanding the Cryptocurrency Market:

To trade cryptocurrencies successfully, it's essential to gain a solid understanding of the market. Familiarize yourself with the fundamental concepts and terminologies related to cryptocurrencies, such as blockchain technology, decentralized finance (DeFi), and key indicators like market capitalization and trading volume.

Conducting Thorough Research:

Successful cryptocurrency trading heavily relies on thorough research. When evaluating potential investments, consider factors such as the project's whitepaper, team background, partnerships, and roadmap. Analyze the market sentiment and assess the cryptocurrency's historical performance. This research will enable you to identify promising opportunities while mitigating potential risks.

Developing a Trading Plan:

Crafting a well-defined trading plan is paramount to successful cryptocurrency trading. Outline your financial goals, risk tolerance, and preferred trading strategy. By establishing clear guidelines, you can avoid making impulsive decisions driven by emotions, leading to more consistent and disciplined trading.

Implementing Proper Risk Management Strategies:

Proper risk management is the backbone of successful cryptocurrency trading. Consider allocating only a portion of your overall investment portfolio to cryptocurrencies. Diversify your holdings by investing in different cryptocurrencies across various market sectors. Additionally, establish a stop-loss order for each trade to limit potential downside risks.

Setting Realistic Expectations:

When engaging in cryptocurrency trading, it's vital to set realistic expectations. While significant profits are possible, it's crucial to understand that the market can be highly volatile. Avoid chasing quick gains and focus on long-term strategies. Remember that losses are part of the trading journey, and by maintaining a realistic perspective, you can make informed decisions without being swayed by short-term market fluctuations.

Continuous Learning and Adaptation:

The cryptocurrency market is dynamic and constantly evolving. To stay ahead, it's crucial to engage in continuous learning and adapt to market trends. Keep yourself updated with industry news, attend webinars, join cryptocurrency communities, and follow thought leaders in the space.

Utilizing Technical Analysis:

Technical analysis plays a vital role in cryptocurrency trading. By examining historical price data and identifying patterns and trends, you can make more informed trading decisions. Utilize tools such as moving averages, relative strength index (RSI), and Fibonacci retracements to analyze price movements and predict potential market reversals.

Embracing Emotional Control:

Emotions can significantly impact trading decisions, often leading to poor outcomes. Embracing emotional control is essential for successful cryptocurrency trading. Avoid making impulsive trades based on fear or greed. Stick to your trading plan and maintain discipline even during periods of market turbulence.

Monitoring the Market:

Constantly monitoring the cryptocurrency market is crucial for successful trading. Stay updated with real-time price movements, news, and market sentiment. Utilize cryptocurrency exchanges and trading platforms that provide advanced charting tools and indicators.

Practicing Proper Security Measures:

Security should be a top priority when engaging in cryptocurrency trading. Protect your digital assets by using reputable cryptocurrency wallets that offer robust security features. Implement two-factor authentication (2FA) to add an extra layer of protection to your trading accounts.

Takeaways:

Successful cryptocurrency trading requires a strategic mindset, effective risk management practices, and continuous learning. Set realistic expectations, conduct thorough research, develop a trading plan, and implement proper risk management strategies. Utilize technical analysis, embrace emotional control, monitor the market, and practice proper security measures.

Conclusion: Cryptocurrency trading can be highly profitable, but it's important to approach

Hey, it's CryptoPatel here!

I'm passionate about providing you with the latest insights and analysis on the world of cryptocurrencies.

If you enjoy my content and want to show your support, please like, share, and follow me for more high-quality updates.

Thank you for your support, and let's continue to stay connected for more exciting content!

LIKE ❤️

Share ⏩

Follow 🤝

#BRC20 #Educational #eucryptotaxplans #feedfeverchallenge #CryptoPatel

Smart Whale Earns $14.5 Million on $PEPE and Invests $1.03 Million in $TURBO - Here's How

In the world of cryptocurrency, there are often stories of savvy investors who make huge profits by jumping on market trends at just the right time. One such investor, a "smart whale," recently made headlines for earning approximately $14.5 million on $PEPE and investing $1.03 million in $TURBO. Here's a closer look at this investor's strategy and how they achieved such impressive gains.

Background:

The smart whale in question made their initial investment in $PEPE, a cryptocurrency that saw significant growth in recent months. However, after making a substantial profit on $PEPE, the whale decided to turn their attention to $TURBO.

Investment Strategy:

The smart whale spent $50,000 USDC to purchase 84 million $TURBO after the price of the cryptocurrency dropped. This brought their total holdings to 1.47 billion $TURBO, which they acquired for an average buying price of $0.0006993.

After purchasing $TURBO, the investor sold 30 million of their holdings once the price of the cryptocurrency increased. They sold these coins for 25,000 USDC at a price of $0.0008482.

Overall, the smart whale invested a total of $1.21 million in $TURBO at an average price of $0.0007052, and currently holds 1.68 billion $TURBO valued at $1.33 million.

Key Takeaways:

The smart whale earned approximately $14.5 million on $PEPE before turning their attention to $TURBO.

The investor purchased 84 million $TURBO for $50,000 USDC after the price of the cryptocurrency dropped.

The smart whale sold 30 million $TURBO for 25,000 USDC once the price of the cryptocurrency increased.

The investor now holds 1.68 billion $TURBO valued at $1.33 million.

Conclusion:

Investing in cryptocurrency can be a risky endeavor, but the smart whale's strategy demonstrates the potential for significant gains for those who make informed decisions and are willing to take calculated risks. It's important to do your research and approach with caution, but for those who are successful, the rewards can be substantial.

Source:- Lookonchain

Hey, it's CryptoPatel here!

I'm passionate about providing you with the latest insights and analysis on the world of cryptocurrencies.

If you enjoy my content and want to show your support, please like, share, and follow me for more high-quality updates.

Thank you for your support, and let's continue to stay connected for more exciting content!

LIKE ❤️

Share ⏩

Follow 🤝

#BTC #Pepe #Turbo #googleai #eucryptotaxplans

Tips to Avoid Scams in Crypto token or coins:

1. Remember that every online group, developer and its team will never send private messages directly. If someone claims to be a project's developer or team member and send you direct messages, it is most likely a scammer.

2. If you ask a question in a group, and someone who claims to be a developer or team member of the project asks you a question by sending a private message directly, it is definitely a scammer (refer to point 1).

3. Never disclose your wallet secret phrase word recovery or private key in any situation. If you do, it is like giving all your cash to that person.

4. When joining a specific token or coin group, for example, on Telegram, be careful because scammers can put you in a group with the same name and carry out their scheme. Therefore, always make sure that in the settings> privacy & security> groups & channel section, you choose "nobody" (cannot be added to a group or channel without our approval).

5. Never trust airdrop programs, gifts, or token or coin multiplication. Scammers often create fake social media accounts and channels that promise airdrops, gifts, or token or coin multiplication in tempting amounts by asking you to click on a certain link, which is designed with the same or similar name as the original token and has a time limit and a number of people who have followed the program. So, this is a scam.

After sharing these tips, hopefully, no one will experience scams like I did when I was new to the Crypto world.

#feedfeverchallenge #BTC #googleai #eucryptotaxplans #crypto2023

Crypto trading bots are software programs designed to execute buy and sell orders for cryptocurrencies at optimal times. Binance plans to release various functions to users by June 2023 as part of the implementation.

Automated crypto trading is a method of trading cryptocurrencies using software programs or bots that automatically execute buy and sell orders based on predefined rules and algorithms. This approach eliminates the need for manual intervention, allowing traders to streamline their trading strategies and capitalize on market opportunities 24/7.

The primary goal of automated crypto trading is to maximize profits while minimizing risks. To achieve this, traders develop strategies based on technical indicators, price patterns, and other market data. These strategies are then programmed into trading bots, which execute orders on behalf of the trader.

Trading bots can be customized to follow various trading strategies, such as arbitrage, market making, trend following, and mean reversion.

In the case of Binance's new trading automation scheme, new spot and futures grids will be created. Users will have the option to run futures grids through their Trading Bots account while trading on the same symbol through their futures account simultaneously. Additionally, users will earn hourly trading fee savings for the Trading Bots account when utilizing their BNB balances.

The announcement of this new trading feature has increased on-chain activity for BNB Chain, with daily active users rebounding to a 5-week high over the 24 hours since its implementation. However, the chain's liquidity has continued to decline, with the total value locked (TVL) on the BNB Chain falling by over 3% to roughly $5.22 billion.

Recently, Binance announced its exit from the Canadian crypto market, citing unfavorable regulatory frameworks from the country.

#feedfeverchallenge #crypto2023 #BTC #eucryptotaxplans #dyor