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#BTC!💰 #Web3GamingFuture The NFT-based Web3 gaming ecosystem is set to account for nearly $614 billion in revenue by 2030, according to a new insights report.The Fortune Business Insights report says that the blockchain gaming ecosystem will grow by nearly 300 percent from its current valuation of $154 billion in the next seven years.
The US Securities and Exchange Commission (SEC) sued the cryptocurrency platform Coinbase shortly after launching a lawsuit against the world’s largest cryptocurrency exchange, Binance.
This isn’t the first time Binance and Coinbase have caught the SEC’s attention – it’s not even the first time this year. But the latest charges are much more serious, including accusations that the exchanges are operating without the correct registration.
Both cases boil down to whether or not cryptocurrency tokens should be classed as “securities”, like stocks, and regulated in the same way. Binance and Coinbase have spoken out in support of regulation. And many crypto firms believe that by taking legal action instead of creating clear rules, the SEC has failed to provide the industry with enough guidance, leading to uncertainty for people and businesses.
Since Gary Gensler became chair of the SEC in April 2021, he has regularly testified before Senate committees on the need for more staff to regulate cryptocurrencies, calling the market a “wild west”. On the other hand, he has also said he has no plans to ban cryptocurrencies, while the SEC approved the first Bitcoin ETF in 2021, as well as Coinbase’s stock exchange listing that same year.
This isn’t the first time Binance and Coinbase have caught the SEC’s attention – it’s not even the first time this year. But the latest charges are much more serious, including accusations that the exchanges are operating without the correct registration.
Both cases boil down to whether or not cryptocurrency tokens should be classed as “securities”, like stocks, and regulated in the same way. Binance and Coinbase have spoken out in support of regulation. And many crypto firms believe that by taking legal action instead of creating clear rules, the SEC has failed to provide the industry with enough guidance, leading to uncertainty for people and businesses.
Since Gary Gensler became chair of the SEC in April 2021, he has regularly testified before Senate committees on the need for more staff to regulate cryptocurrencies, calling the market a “wild west”. On the other hand, he has also said he has no plans to ban cryptocurrencies, while the SEC approved the first Bitcoin ETF in 2021, as well as Coinbase’s stock exchange listing that same year.