Monat: Februar 2023

• Former SEC chief Lisa Braganca warns against using emojis for investment advice.
• This follows a U.S court ruling that classifying DapperLabs’ use of certain emojis as investment advice.
• The court ruling referred to tweets containing the rocket ship, stock chart, and money bags emoji.

SEC Chief Warns Against Use Of Emojis For Investment Advice

Former SEC branch chief Lisa Braganca has warned the public against using certain emojis in promotional materials following a recent ruling by a U.S court that classified DapperLabs‘ use of these emojis as investment advice.

Background Of The Court Ruling

The ruling came as part of a lawsuit filed against Dapper Labs and its CEO Roham Gharegozlou for allegedly violating securities laws by offering its NBA Top Shot Moments which are non-fungible tokens (NFT) that capture key highlights and video clips from NBA games. The plaintiffs accused Dapper Labs of promoting NBA Shot Moments as investment opportunities through its marketing materials with carefully selected emojis including the rocket ship, stock market, and money bags emoji. The filing stated that “… although the literal word „profit“ is not included in any of the Tweets, the „rocket ship“ emoji, „stock chart“ emoji, and „money bags“ emoji objectively mean one thing: a financial return on investment.“

Dapper Lab’s Response

However, Dapper Labs argued that their use of these emojis was intended to provide accuracy to market data rather than promote sales or act as an endorsement for investing in their products. Several members of the crypto community have argued that Emojis could mean different things to different folks thus any rule on their usage would impinge on freedom of speech.

Final Thoughts

This warning from former SEC chief Lisa Braganca serves as an important reminder to crypto users who may be tempted to use certain emoticons in promotional material associated with investments to consider whether those images could be interpreted as suggesting potential profits or returns on investments when used together with other words or images in the same tweet or post.

Conclusion

In conclusion, it is important for crypto users to understand that even seemingly innocuous images such as emojis can be interpreted differently by different people and can potentially lead to legal trouble if used incorrectly when referring to investments or profits related activities online.

• The U.S. Securities and Exchange Commission (SEC) declared Terra’s assorted tokens to be securities, causing them to drop an average of 5%.
• Binance’s BUSD stablecoin experienced a 15% drop in market cap following news that issuance will cease.
• Do Kwon allegedly cashed out 100M worth of BTC via Swiss Bank.

Terra Tokens Declared Securities

The U.S. Securities and Exchange Commission (SEC) declared Terra’s assorted tokens to be securities, causing them to drop an average of 5%. According to the SEC’s Feb. 16 complaint, Terraform Labs had breached securities law with the Mirror Protocol (MIR) launch as it allowed users to create mAssets, constituting a security-based swap. Furthermore, the wrapped version of Luna was also deemed a security as it is a receipt for a security.

BUSD Market Cap Down 15%

Following news that issuance will cease, Binance’s BUSD stablecoin saw its market cap decline by 15%. In response, CEO Changpeng Zhao (CZ) commented on the shifting landscape concerning stablecoin movements triggered by rising yields in the DeFi ecosystem. He further suggested that some projects may choose to mint their own assets or move away from existing stablecoins altogether in search for higher yields elsewhere in the DeFi space.

Do Kwon Cashes Out $100 Million Via Swiss Bank

The SEC alleged that Do Kwon and Terraform Labs transferred over 10,000 BTC into a cold wallet and then converted some of these assets into cash via a Swiss bank account for up to $100 million USD in total proceeds. Furthermore, this activity was done without registering with the appropriate authorities as required by US securities laws according to the commission’s complaint filed on Feb 16th 2021 .

Implications for Crypto Market

These recent developments have caused significant implications within the cryptocurrency markets. This includes increased scrutiny from regulatory bodies towards crypto projects which could lead to further regulations being implemented within this space moving forward in order keep investors safe from fraudulent activities and scams like those conducted by Do Kwon & Terraform Labs detailed above.. Additionally, it has caused many investors/traders alike to become more cautious when trading/investing or participating any crypto related project moving forward due precautionary measures taken against such activities make sure they are compliant with all applicable regulations before proceeding with their investment decisions going forward .

Conclusion

In conclusion , these recent developments show us just how important it is for investors/traders alike remain vigilant when engaging in any kind cryptocurrency related activities . It also serves as reminder for cryptocurrency projects ensure compliance with all applicable laws & regulations so that can avoid any issues down line like those encountered by Do Kwon & Terraform labs detailed above .

• Bitcoin (BTC) dropped 3.9% following Kraken’s settlement with the SEC to end staking for U.S. customers.
• Bitcoin saw a realized loss of $200 million and a realized profit of $184 million on Feb. 9.
• The total net realized loss stands at $16.2 million, suggesting liquidations were the main driver of negative price action.

Bitcoin Price Drop Following Kraken Settlement

On February 9th, Bitcoin (BTC) dropped 3.9% in the past 24 hours following Kraken’s settlement with the SEC to end staking for U.S. customers, resulting in a realized loss of $200 million and a realized profit of $184 million on that day. This created a net realized loss of $16.2 million, indicating that liquidations were likely the primary cause for this negative price action in BTC markets.

Net Realized Profit/Loss Definition

The Net Realized Profit/Loss is calculated by taking into account both the Realized Profit and Realized Loss associated with moved coins during any given period of time; this metric is defined as the difference between those two figures mentioned above:

•Realized Profit denotes the total profit (USD value) of all moved coins cheaper before their last movement than the price at the current movement;

•Realized Loss denotes the total loss (USD value) of all moved coins priced higher at their last movement than the price at the current movement.

Implications

The net realized profit/loss ratio indicates that liquidations were behind this drop in BTC prices on February 9th, which is not entirely surprising considering that it was only one day after Kraken settled with U.S regulators to end staking services for its American customers—and that such activity often creates market volatility as investors adjust to changing conditions and regulations within crypto markets more broadly speaking..

Conclusion

In conclusion, it appears that regulation-related events can have an impact on cryptocurrency asset prices just like they do in other financial markets—and while these kinds of settlements may create short-term losses, they can also be beneficial over time by helping to promote market stability and improve investor confidence overall..

Disclaimer

CryptoSlate does not endorse any project or asset that may be mentioned or linked to in this article but does urge readers to conduct their own research with due diligence into investments prior to making any sort of transaction decision involving cryptocurrencies or other digital assets

• The Indonesian Trade Ministry is aiming to have a national cryptocurrency exchange set up before June 2023.
• Five active exchanges out of the 25 registered with the Commodity Futures Trading Regulatory Agency are in the race to be part of the national bourse.
• The government had placed a moratorium on the issuance of new crypto exchange licenses, but this has been recently lifted.

The Indonesian Trade Ministry has announced that it is aiming to have a national cryptocurrency exchange set up before June 2023, as part of the regulatory reforms adopted by the Indonesian House of Representatives in December. This exchange will be a key part of the government’s efforts to regulate the cryptocurrency industry in the country.

Five active exchanges out of the 25 registered with the Commodity Futures Trading Regulatory Agency are in the race to be part of the national bourse. Trade minister Zulkifli Hasan said that all five exchanges might be part of the ministry’s crypto exchange. He also said that the government was not rushing the process, as they did not want it to take a toll on the public due to lack of understanding about trading in cryptocurrencies.

However, the setting up of the exchange had been delayed due to a moratorium that was placed on the issuance of new crypto exchange licenses by the government. This moratorium had attracted criticism from people who believed that the government was unnecessarily making things difficult. But the government argued that the moratorium was needed to „clear the regulations“ in the sector.

Fortunately, the moratorium has been recently lifted, allowing the government to move ahead with its plans to set up the national cryptocurrency exchange. The five exchanges that are currently in the race to be part of the bourse will be closely assessed in order to ensure that the public is provided with a safe and regulated platform for trading in cryptocurrencies.

The Indonesian Trade Ministry’s decision to set up a national cryptocurrency exchange is expected to bring more legitimacy to the industry in the country, and will also provide the public with a secure and regulated platform. This is an important step towards the wider adoption of cryptocurrencies, and will go a long way in making Indonesia a more attractive destination for crypto-related businesses.