#SECCrypto2.0 The U.S. Securities and Exchange Commission (SEC) has unveiled its Crypto 2.0 Initiative, signaling a robust regulatory framework for digital asset securities. This initiative aims to enhance transparency and investor protection in the digital asset market, with a particular emphasis on off-chain trades. The SEC has proposed the establishment of a Presidential task Force on Cryptocurrency to oversee and coordinate federal agency activities related to digital assets.
The SEC's proposal includes amendments to the Securities Exchange Act, ensuring that digital asset securities purchases, whether through on-blockchain or off-blockchain systems, adhere to the same reporting rules as traditional securities. This move is designed to create a more transparent digital asset market and provide better investor protection through a formal regulatory structure. The agency has also recognized the need for intensified monitoring of activities outside chain boundaries, including over-the-counter (OTC) trades and communications on decentralized platforms, which are considered high-risk areas lacking proper oversight.
To achieve this, the SEC has proposed the creation of the Digital Asset Reporting and Tracking system (DART). This system, in collaboration with the Commodity Futures Trading Commission (CFTC), will serve as a unified hub for storing digital asset securities transaction data. The goal is to provide regulators with instant access to transaction information, thereby strengthening market oversight and regulatory compliance functions.
The Crypto 2.0 Initiative also plans to amend the Securities Exchange Act to align digital asset securities trading with current financial market structures. This will impose substantial regulatory requirements on crypto exchanges, decentralized finance (DeFi) platforms, and token issuers, who will need to adhere to stronger reporting and disclosure standards. The establishment of a Presidential Cryptocurrency Task Force, comprising the SEC, CFTC, Treasury Department, and Internal Revenue Service (IRS)
Trump sends $TRUMP meme coin soaring—and sinking—with one Truth Social post as Bitcoin blasts past $85K
On Sunday, President Donald Trump took to Truth Social, posting an enthusiastic endorsement of the Trump meme coin: “I LOVE $TRUMP — SO COOL!!! The Greatest of them all!!!!!!!!!!!!!!!!” The post instantly sent the coin’s value surging from $10.93 to a high of $12.24. But just as quickly, the excitement faded. Within hours, the price dipped back to $11.85, continuing its downward trend from its January peak of $73.4.
Here’s why PancakeSwap’s CAKE price is going up $CAKE
PancakeSwap PancakeSwap CAKE 14.1i% PancakeSwap jumped to a high of $2.80 on Friday, its highest point since February 25, and 145% above its lowest level this month.
This surge happened as the network continued gaining market share in the DEX industry. According to DeFi Llama, PancakeSwap’s weekly volume jumped by almost 60% in the last seven days to $14.1 billion. This increase brought its 30-day volume to $53 billion. Its weekly volume was higher than that of Uniswap, Raydium, Meteora, and Fluid combined.
The soaring PancakeSwap volume led to a big increase in network fees. According to TokenTerminal, it has made almost $120 million in revenue this year, making it the second most profitable DEX in the industry after Uniswap. #Uniswap’s Still, it is unclear whether the volume surge will continue because it was driven by recently launched meme coins in the ecosystem. The most notable one was Mubarak, whose token surged and then pulled back. Its market cap has dropped to $110 million from $200 million this week.
Other top BSC chain meme coins were Mansa, AOPA, Siren, and AIFlow Token. In most cases, these meme coins jump and then crash as insiders sell. As such, as it happened with Solana (SOL) DEXes, there is a likelihood that the PancakeSwap volume may be short-lived.
The other risk for the CAKE price is that the network growth and the number of active addresses have dropped. The network growth metric moved from 2,186 on March 17 to 738, while daily active addresses dropped from a weekly high of 13.6k to 6,020.
Red alert: Bitcoin price rebound could fade as technical patterns turn bearish
Bitcoin BTC-0.78%Bitcoin recovered to a high of $87,375, its highest level since March 7, and up by 13% from its lowest level this month.
The rebound coincided with the ongoing recovery of other assets like stocks and commodities. U.S. equities rose after the FOMC decision, with the Dow Jones and S&P 500 rising by over 1%. Gold jumped to a record high of $3,100, while copper crossed the $10,000 milestone.
The rally was likely driven by Jerome Powell’s prediction that Donald Trump’s tariffs would lead to transitory inflation. Such a scenario would suggest more Fed rate cuts than the market expected. This explains why the rate-sensitive 10-year bond yields dropped after the rate decision.
However, these assets pared back some of their gains, with Dow Jones futures falling by 200 points and those tied to the Nasdaq 100 index dropping by 145 points.
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Technicals point to further Bitcoin price decline
Bitcoin price chart | Source: crypto.news
Chart patterns suggest that Bitcoin’s price may continue falling in the coming days. The daily chart shows that the coin is slowly forming a rising wedge pattern, which is a popular bearish signal. This pattern consists of two rising and converging trendlines, with a bearish breakout likely when the two lines converge.
Bitcoin has also formed other bearish patterns. It recently formed a death cross pattern as the 50-day and 200-day Weighted Moving Averages crossed each other. A wedge pattern is considered a highly bearish formation in technical analysis.
Before that, BTC price formed a double-top pattern at $108,233. This pattern had a neckline at $89,000, which Bitcoin is now attempting to retest. A break-and-retest is a popular bearish continuation signal.
$XRP surged after Ripple CEO Brad Garlinghouse said the U.S. Securities and Exchange Commission is no longer pursuing its appeal in the case against the payments company.
The price of XRP was last higher by nearly 11% at $2.52.
"It's been almost four years and about three months since the SEC originally sued us, certainly a painful journey in lots of ways," Garlinghouse said at the Digital Assets Summit in New York on Wednesday morning. "I really deeply believed that we were going to be on the right side of the law and on the right side of history."
"The system just feels broken. That we had to fight this fight for the industry and you had an SEC attacking the industry, particularly the Ripple case," he continued. "There were no victims, there was no investor loss. They were just not acting in good faith."
In 2020, the SEC sued Ripple for breaching U.S. securities laws by selling XRP without first registering it with the agency. The company scored a partial victory in 2023 when U.S. District Judge Analisa Torres handed down the decision, which was hailed as a landmark win for the crypto industry. Still, while XRP at that point was not considered a security when sold to retail investors on exchanges, it was considered an unregistered security offering if sold to institutional investors.
The development comes as the SEC moves quickly to reverse much of the damage in the crypto industry left by the previous administration. Last month, the agency ended its enforcement case against Coinbase; closed its investigations into Robinhood's crypto unit, Uniswap, Gemini and Consensys with no enforcement action; scaled back its crypto enforcement unit; and declared meme coins are not securities.
This week, the newly formed SEC crypto task force will kick off a roundtable series focused on defining the security status of digital assets.
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