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XRP Plunges 4%, But Analyst Predicts Massive Breakout—$5 Target in Sight

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  • XRP droppеd 4.26% to $2.45 but mаy brеаk out if it surpаssеs $2.60-$2.75.
  • Whаlеs аccumulаting coins, dаily аctivе аddrеssеs аt 6,131, аnd MVRV rаtio suggеsts bullish momеntum.
  • Ripple’s SEC lаwsuit outcomе could triggеr а mаssivе pricе surgе, possibly rеаching $10.

XRP hаs bееn on а downwаrd spirаl rеcеntly, stеаdily losing vаluе. Aftеr rising аbovе $2.70 lаst wееk, it fеll to $2.45, а 4.26% drop in thе lаst 24 hours. This dеclinе suggеsts pеrsistеnt sеlling prеssurе, likеly drivеn by broаdеr mаrkеt corrеctions.

Dеspitе thаt, somе аnаlysts sее а mаssivе movе on thе horizon. Crypto еxpеrt Rose Premium Signals bеliеvеs thе cryptocurrеncy is sеtting up for а mаjor brеаkout. Thе coin is currеntly forming а fаlling wedge pattern, а clаssic signаl of аn upcoming bullish run. If thе cryptocurrеncy cаn brеаk аbovе thе kеy rеsistаncе zonе bеtwееn $2.60 аnd $2.75, а strong rаlly could bе in plаy.

XRP 3
Source: Rose Premium Signals

Chаrts indicаtе а promising pricе pаth, with thе first kеy tаrgеt sеt аt $3.4418. If momеntum builds, thе nеxt stops could bе $4.2130, аnd in аn еvеn morе аggrеssivе push, $4.9515. “A mаssivе movе is coming,” thе аnаlyst stаtеd, pointing to thе tеchnicаl structurе fuеling momеntum for аn upsidе brеаkout.

Whales Accumulate XRP, Bullish Signals Grow

On-chаin dаtа pаints а bullish picturе, showing thаt mаjor invеstors—commonly rеfеrrеd to аs whаlеs—аrе stаcking up on XRP. Thеir stеаdy аccumulаtion signаls rising confidеncе in thе аssеt’s potеntiаl. At thе sаmе timе, its dаily аctivе аddrеssеs hаvе rеаchеd 6,131, а figurе historicаlly linkеd to thе stаrt of mаjor uptrеnds.

Anothеr sign of а potеntiаl shift is thе MVRV rаtio, а kеy mеtric, indicаtеs thаt sеllеrs might bе running out of stеаm. As it аpproаchеs thе zеro lеvеl, this suggеsts thаt most invеstors hаvе аlrеаdy lockеd in profits.

XRP
Source: Santiment

Adding to thе optimism, institutionаl аdoption is gаining trаction. Thе аpprovаl of thе XRP ETF in Brаzil stаnds out аs а significаnt milеstonе, bringing morе lеgitimаcy аnd еxposurе to thе tokеn. Thаt, couplеd with thе incrеаsing usе of XRP in cross-bordеr pаymеnts, аdds fuеl to thе possibility of а sustаinеd rаlly.

SEC Case Could Ignite XRP Surge

XRP’s pricе isn’t just drivеn by tеchnicаls. Thе ongoing lаwsuit bеtwееn Ripple аnd thе SEC hаs long bееn а kеy fаctor аffеcting mаrkеt sеntimеnt. In а rеcеnt twееt, Digitаl Assеt Invеstor (DAI) rеmindеd thе crypto world thаt thе cаsе could еnd аt аny momеnt. “I cаn’t imаginе bеing dumb not to hold XRP right now,” hе sаid, еmphаsizing thе potеntiаl upsidе if Ripple sеcurеs а fаvorаblе outcomе.

Thе lаwsuit, drаgging on for ovеr four yеаrs, hаs wеighеd hеаvily on XRP. Somе bеliеvе thаt oncе thе cаsе concludеs, thе mаrkеt will rеаct just аs it did bаck in Dеcеmbеr 2020—but in rеvеrsе. Bаck thеn, whеn thе SEC аccusеd Ripple of sеlling XRP аs аn unrеgistеrеd sеcurity, thе pricе plummеtеd 66% from $0.50 to $0.17.

Grok AI, а tool consultеd for mаrkеt projеctions, suggеstеd thаt а fаvorаblе vеrdict could spаrk аn еquivаlеnt surgе. With thе cryptocurrеncy now hovеring аt $2.45, а 66% jump would push thе pricе towаrd $4.08—а lеvеl nеvеr sееn bеforе. Othеr аnаlysts, including Edward Farina аnd Alеx Clаy, hаvе gonе furthеr, projеcting а potеntiаl risе to $10.

Related Readings | Ethereum’s Resilient Bounce Fuels Hopes for a New All-Time High

SEC Crackdown? Consensys Warns New Rule Could Destroy U.S. Crypto Market

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Key Takeaways

  • Consensys urges the SEC to withdraw amendments redefining “exchange” under U.S. securities law.
  • The firm argues the proposed changes exceed regulatory authority and could stifle blockchain innovation.
  • The SEC’s approach could force decentralized platforms to shut down or exit the U.S. market.

Today, Consensys submitted a formal request to the U.S. Securities and Exchange Commission (SEC), urging its crypto task force, led by Commissioner Hester Peirce, to remove proposed amendments redefining “exchange” under U.S. securities laws from its regulatory agenda. The firm contends that these changes represent an overreach of authority and lack sufficient legal grounding.

The ongoing debate traces back to amendments first introduced in early 2022, seeking to extend the agency’s jurisdiction over decentralized finance (DeFi) platforms.

Consensys argues that such changes would not only exceed the agency’s statutory mandate but also contradict the Administrative Procedure Act and the U.S. Constitution. The firm included two prior letters, submitted in April 2022 and June 2023, to further emphasize the legal and practical concerns surrounding the proposal.

Impact on Blockchain Innovation

Consensys warns that the proposed definition of “exchange” would significantly expand regulatory oversight, affecting even passive technological providers.

Under the amendments, blockchain systems mediating only among sellers and buyers would fall within the jurisdiction of the agency. The broad reach, the company argues, doesn’t touch on the fundamental differences in stock exchanges and decentralized networks.

Beyond legal problems, Consensys also refers to the stifling effect such rules would have on blockchain innovation in the U.S. By imposing strict compliance provisions beyond the reach of many decentralized exchanges; the SEC risks driving innovation overseas. The amendments would unintentionally drive blockchain firms out of the country, constrict market access and hinder technology innovation.

SEC’s Cost-Benefit Analysis Under Fire

One of the biggest points of contention is that the agency failed to conduct an in-depth cost-benefit analysis. Consensys argues that the agency underestimated the number of parties impacted by the rule change and failed to discuss the larger impacts on the economy.

Under the proposed regime, decentralized finance platforms, validators, and software developers would face unintended liabilities, the company said.

Furthermore, the regulator has not been explicit about how digital assets are to be categorized under the definition of a security, and market players are left in regulatory uncertainty. The absence of explicit definitions, Consensys contends, is reflective of deep-seated shortcomings in the draft amendments.

Related Reading | SEC Closes OpenSea Probe, Marking a Win for the NFT Industry

Franklin Templeton’s EZPZ ETF Expands Crypto Investment Access

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  • Franklin Templeton launched the Franklin Crypto Index ETF under the ticker EZPZ.
  • The ETF trades on the Cboe BZX Exchange, offering exposure to Bitcoin and Ethereum.
  • The fund follows CF Benchmark’s Institutional Digital Asset Index for tracking performance.

Franklin Templeton has introduced the Franklin Crypto Index ETF, trading under the ticker EZPZ, further expanding its presence in digital assets. The ETF debuted on the Cboe BZX Exchange, offering investors weighted exposure to Bitcoin and Ethereum. This launch continues the asset manager’s efforts to improve its cryptocurrency investment product lineup.

Franklin Templeton Expands Crypto Investment Offerings

The Franklin Crypto Index ETF tracks CF Benchmark’s Institutional Digital Asset Index, which measures the performance of regulated cryptocurrencies. The fund’s allocation comprises approximately 87% Bitcoin and 13% Ethereum, mirroring their market capitalizations. Coinbase serves as the custodian, ensuring institutional-grade security and compliance with financial regulations.

The ETF provides investors a diversified way to invest in the top two digital assets without managing individual holdings. Following a regulated benchmark aligns the fund with institutional investment standards and capital market requirements. This strategy enhances accessibility for both retail and institutional investors seeking exposure to digital assets.

Franklin Templeton continues to expand its digital asset offerings by providing cost-efficient and structured crypto investment vehicles. The company launched the Franklin Bitcoin ETF (EZBC) in January 2024 and the Franklin Ethereum ETF (EZET) in July 2024. The new index ETF strengthens its position as a major player in the cryptocurrency investment space.

SEC Approves New Crypto Investment Funds

The launch of EZPZ follows a shift in US regulatory policy, allowing more cryptocurrency-focused investment products in traditional markets. In December, the SEC approved Franklin Templeton’s and Hashdex’s crypto index ETFs, marking a more open approach to digital asset investments. These approvals indicate growing institutional acceptance and regulatory clarity in the crypto sector.

Hashdex launched its Nasdaq Crypto Index US ETF (NCIQ) on February 14, becoming the first in the market. Franklin Templeton’s EZPZ joins the competition, expanding investment options for those seeking broad crypto exposure. These ETFs provide diversified and simplified access to digital assets while adhering to compliance standards.

The regulatory shift coincides with changes in US leadership, influencing the country’s stance on cryptocurrency. After winning the 2024 elections, Donald Trump took office on January 20, pledging to strengthen the US crypto market. Since then, asset managers have increased filings for ETFs tracking altcoins, anticipating further regulatory adjustments.

New Crypto ETFs Gain Institutional Interest

With the success of Bitcoin and Ethereum ETFs, financial institutions are exploring additional crypto investment products. Industry leaders expect growing demand for ETFs covering other digital assets, including Solana, XRP, and Litecoin. This expansion reflects rising institutional interest and investor appetite for diversified cryptocurrency exposure.

The emergence of more crypto-index ETFs demonstrates the evolution of digital asset investment strategies. Asset managers respond to market demand by creating products that simplify access to blockchain-based assets. As regulatory clarity improves, financial firms will likely introduce more diversified crypto funds to attract investors.

Franklin Templeton’s latest ETF underscores the increasing role of digital assets in traditional finance. The company remains committed to expanding its crypto offerings, aligning with the evolving regulatory environment. With EZPZ, investors now have another option to gain structured exposure to Bitcoin and Ethereum compliantly.

SEC Closes OpenSea Probe, Marking a Win for the NFT Industry

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  • The SEC has officially closed its investigation into OpenSea, marking a win for the NFT industry.
  • It follows the SEC’s dismissal of its lawsuit against Coinbase, hinting at a potential shift in regulatory stance.
  • OpenSea’s SEA token launch remains on the horizon, adding momentum to the NFT market.

The United States Securities and Exchange Commission (SEC) has officially closed its investigation into OpenSea, marking a victory for the broader crypto industry. OpenSea’s founder, Devin Finzer, confirmed the news in a Feb. 21 post on X: “The SEC is closing its investigation into OpenSea. This is a win for everyone who is creating and building in our space.”

The announcement came just hours after the Financial authority agreed to dismiss its lawsuit against Coinbase, which had accused the crypto exchange of operating as an unregistered securities broker. The consecutive decisions suggest a potential shift in regulatory scrutiny toward digital assets, providing much-needed relief to industry players.  

The Financial authority’s investigation into OpenSea began in August 2024, when the regulator issued a Wells notice, indicating that the agency was considering enforcement action over alleged trading of unregistered securities in the form of NFTs. However, with the probe now closed, industry leaders see this as a crucial moment that could reshape the NFT landscape.  

Chris Akhavan, Chief Business Officer at rival NFT marketplace Magic Eden, acknowledged the significance of the decision, stating, “While we are competitors in the trenches, we share a deep belief in NFTs and what they will enable. Happy to see such a win for the space.” 

Pseudonymous crypto commentator Beanie echoed this sentiment, calling the resolution “a real catalyst for the next NFT bull market.” Beanie further praised OpenSea for helping provide some regulatory clarity, even at what he assumed was “a great cost.”

SEC Clears OpenSea NFT Market

The timing of the SEC’s decision coincides with OpenSea’s recent announcement regarding its new project token, SEA. The OpenSea Foundation revealed on Feb. 13 that the token would be available to users in various countries, including the United States, though it has yet to specify a launch date.  

Despite this positive regulatory outcome, OpenSea has not been free from controversy. The platform recently faced backlash over its airdrop rewards system, which some users criticized for promoting wash trading and failing to support creators. Following the criticism, OpenSea opted to pause the program.  

The closure of the SEC’s investigation may signal a turning point for NFTs, offering a more optimistic regulatory outlook. While the industry has faced headwinds due to market downturns and scrutiny, this decision injects fresh momentum into the sector.  

With a potential NFT bull market on the horizon and OpenSea’s SEA token launch in the works, the industry is watching closely to see what’s next for one of the largest marketplaces in the space.

Related | Altcoins Surge Past Bitcoin in Trading Volume as CryptoQuant CEO Declares Altcoin Season 

Coinbase Triumphs As SEC Agrees to Dismiss Lawsuit

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  1. The SEC has agreed in principle to drop its case against Coinbase, pending Commissioner approval.
  2. Coinbase views this as a major victory for the crypto industry and regulatory clarity.
  3. The company urges lawmakers to pass legislation ensuring long-term stability for digital assets.

The U.S. Securities and Exchange Commission (SEC) has agreed in principle to dismiss its enforcement case against Coinbase, the crypto exchange announced on Friday.

According to Coinbase’s Chief Legal Officer Paul Grewal, the decision, pending Commissioner approval, marks a critical moment in the ongoing battle between regulators and the crypto industry. Grewal described it as “righting a major wrong,” emphasizing that the case should never have been brought in the first place.

The legal dispute stemmed from the SEC’s claims that Coinbase operated as an unregistered securities exchange. However, the exchange has consistently maintained that its business model remained unchanged from when the SEC allowed it to go public in April 2021. Despite this, the regulator sued the company two years later, igniting a costly and drawn-out legal battle.

A Turning Point for Crypto Regulation

Coinbase sees this development as a broader victory for the crypto industry, asserting that it underscores the need for regulatory clarity in the United States. The company criticized the SEC’s leadership for overstepping its authority and engaging in a regulatory “war against crypto.”

According to Coinbase, millions in legal fees and years of litigation have now resulted in a significant win not just for the exchange but for its customers and the industry as a whole. The exchange argues that this case exemplifies the SEC’s lack of clear guidelines regarding crypto assets.

By forcing legal battles rather than creating comprehensive regulations, the agency has slowed innovation and driven investment away from the U.S. With this dismissal, the exchange believes it has held the SEC accountable while reinforcing the industry’s right to operate within a fair regulatory framework.

Calls for Legislative Action

Following this legal victory, the exchange is urging lawmakers to take action. The company believes that clear regulations are necessary to prevent similar enforcement actions in the future. It argues that a well-defined legal framework would attract more capital inflows, modernize the financial system, and ultimately provide economic benefits to consumers.

Coinbase’s leadership remains firm in its stance that digital assets will play a significant role in the future global economy. They stress the importance of ensuring that the U.S. remains at the forefront of this technological evolution. The company warns that without regulatory clarity, America risks falling behind other nations that are embracing blockchain innovation.

Coinbase’s Commitment to Crypto Growth

Despite the legal battle, Coinbase affirms its commitment to pushing for crypto adoption and financial freedom. The company believes that blockchain technology will eventually power a large portion of the global economy. With the SEC case nearing dismissal, Coinbase views this moment as a stepping stone toward regulatory progress.

Moving forward, Coinbase plans to work with regulators and lawmakers to craft long-term policies that support innovation. While challenges remain, the company remains determined to shape the future of digital assets in the U.S.

Crypto Win: SEC Drops High-Stakes Controversial Crypto Broker-Dealer Rule

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  • SEC withdraws appeal, marking a shift in crypto regulation strategy.
  • Texas court ruled SEC overreached with crypto broker-dealer rule.
  • Industry groups celebrate as SEC moves towards a more collaborative stance.

The U.S Securities and Exchange Commission (SEC) has dropped its appeal of a Texas federal court ruling that blocked its controversial broker-dealer rule.

SEC withdraws Crypto Rule Appeal

The ‘broker-dealer’ rule aimed to expand the SEC’s oversight to decentralized finance platforms, liquidity providers, and automated market makers with over $50 million in capital. The decision marks a shift in the SEC’s regulatory approach under new leadership.

This decision has prompted reactions from both industry leaders and regulatory observers. Kristin Smith, CEO of the Blockchain Association, stated that the withdrawal of the appeal marks a turning point for the SEC. She criticized the rule as an unlawful expansion of SEC power, which would have created unnecessary compliance hurdles. 

Broker-Dealer Rule

The SEC initially sought to redefine the scope of its jurisdiction over crypto operations and classify a wide range of entities as “dealers” subject to strict registration requirements. A Texas federal judge ruled that the SEC had overstepped its statutory authority in proposing such a broad interpretation. The court found that the SEC’s rule was disconnected from existing U.S. securities laws.

The Blockchain Association and Crypto Freedom Alliance of Texas challenged the rule, arguing that it would impose burdens on decentralized finance protocols. These platforms  lack central operators and it would be difficult to meet the requirements like Know Your Customer (KYC) and Anti-Money Laundering (AML) policies. The dismissal of the appeal was welcomed by these groups as a victory for the crypto industry.

SEC Shifts in Regulatory Position

The SEC’s retreat from this appeal reflects a broader shift in its approach to cryptocurrency regulation. Under the leadership of Acting Chair Mark Uyeda, the SEC has re-evaluated its legal strategies in handling the crypto space. This move signals the agency’s intention to adopt a more measured and collaborative approach rather than aggressive litigation tactics.

Moreover, the commission has also paused enforcement actions in prominent crypto cases such as its dispute with Binance. The SEC seems to have opted for ‘outside the courtroom’ settlement of these matters. This indicates a departure from the strict approach taken under former Chairman Gary Gensler.

The SEC’s retreat could prompt the commission to reconsider its regulatory approach to digital assets. The outcome of the appeal could have broader implications for the future of crypto regulation in the United States.

SEC Launches Powerful New Unit,CETU, to Combat Cyber and Crypto Fraud

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  • SEC’s CETU to target fraud involving crypto, AI, and blockchain.
  • New unit strengthens cybersecurity oversight for financial firms.
  • SEC adopts a balanced crypto approach, supporting innovation and security.

The U.S Securities and Exchange Commission (SEC) has launched a new unit, Cyber and Emerging Technologies Unit (CETU),  to tackle fraud related to cyber and emerging technologies. This unit replaces the previous Crypto Assets and Cyber Unit. The unit’s primary goal is to safeguard investors from misconduct in the digital asset space.

SEC Crypto Unit

Laura D’Allaird will lead the CETU, which consists of about 30 fraud specialists and attorneys from various SEC offices. The unit will collaborate with the SEC’s Crypto Task Force to enforce effective protection measures for investors. This collaboration aims to address fraud and misconduct within the digital asset space and ensure proper investor protection.

The CETU will target fraud in areas such as artificial intelligence, social media schemes and hacking to obtain nonpublic information.The unit will also focus on misconduct linked to blockchain technology and crypto assets.

Roles of CETU

Acting SEC Chairman Mark Uyeda emphasized the importance of the new unit in maintaining market efficiency. He stated that the CETU will not only protect investors but also support innovation. This approach will help promote growth as well as ensure a secure environment for digital and emerging technologies.

Moreover, the CETU will oversee cybersecurity compliance among regulated entities. The unit will monitor how financial firms and public issuers handle cybersecurity risks. It will also ensure that brokerage firms and investment advisers follow SEC rules to protect investors from cyber threats.

The SEC has increased its focus on cybersecurity due to rising threats against financial institutions. Recent incidents such as retail brokerage account takeovers and hacking attacks have raised concerns. As a result, the SEC has implemented stricter regulations, and the CETU will play a critical role in enforcing them.

Regulatory Shift in SEC

The CETU launch comes amid changes in regulatory approaches towards cryptocurrency. The Biden administration initially adopted a strict stance on crypto firms, but recent changes have led to a more balanced approach. The SEC aims to protect investors and foster industry growth amid key legal battles.

Moreover, the SEC recently withdrew its appeal in a case challenging its dealer rule expansion. The Blockchain Association and Crypto Freedom Alliance of Texas filed the lawsuit in 2024. Meanwhile, the SEC has requested an extension in its case against Coinbase which further indicates ongoing changes in the SEC’s approach.

The SEC’s CETU will play a crucial role in shaping the regulatory landscape for digital assets. Its focus on cybersecurity and fraud prevention will contribute to a safer environment for innovation and digital technologies.

Urgent Call: Coinbase Wants Congress to Rescue Crypto Innovation

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Key Takeaways

  1. Coinbase urges Congress to prioritize clear crypto legislation to empower innovation and protect consumers.
  2. The proposal advocates granting the CFTC authority over spot markets to foster market transparency.
  3. Swift action is needed to prevent innovation from moving overseas and safeguard the U.S.’s blockchain leadership.

Coinbase, one of the leading cryptocurrency exchanges, has called for the U.S. Commodity Futures Trading Commission (CFTC) to oversee spot cryptocurrency markets, limiting the Securities and Exchange Commission’s (SEC) role in regulating digital assets.

This bold proposal, written by the Chief Policy Officer of Coinbase, Faryar Shirzad, reflects the need for comprehensive legislation to provide much-required clarity to innovators while preserving robust protection of the customer base.

The proposed framework prioritizes enabling developers, preserving self-custody capabilities, and encouraging participation within decentralized finance (DeFi). In addition to this, Coinbase is of the opinion that central intermediary institutions like exchanges must have high levels of both transparency and security to enhance customer trust.

A central recommendation is to allow the CFTC to regulate the crypto spot market, namely assets like Bitcoin and Ethereum that are categorized as commodities. In the view of Coinbase, this measure would introduce a degree of transparency, prevent fraud, and act to support the consumer without discouraging innovation within the blockchain ecosystem overall.

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Source: Coinbase

Coinbase Propose Clearer Rules Could Bolster Innovation

The Coinbase proposal also emphasizes the need to grant the developers the regulatory certainty to build the systems that are decentralized with the assets being owned by the user itself.

Shirzad also emphasizes the protection of wallets that will enable the public to engage with blockchain without being entirely reliant on central systems.

Additionally, the paper advocates maintaining the open innovation potential of DeFi and digital commerce. Shirzad warns that excessive regulation will push innovation overseas with the potential to expose American consumers to fraud and systemic threats.

A stablecoin infrastructure that will ensure the token is fully supported and transparent is also needed to bridge the crypto to the fiat economies. In requesting simplified user-friendly regulations, Coinbase is highlighting the need to integrate crypto regulation into the existing U.S. financial infrastructure without disrupting unnecessarily.

Time is of the Essence

Coinbase’s proposal warns of the perils of lagging regulation. In the dearth of certain legislation, the U.S. will lose its comparative advantage with the flight of companies and programmers to other jurisdictions with less onerous terms. Besides that, vague terms leave American consumers at the mercy of potential market abuses and collapse.

By passing reasonable legislation, the Congress can have the opportunity to serve the consumers, enhance innovation, and uphold the U.S.’s blockchain lead globally. The call to action by Coinbase is a watershed that is the country getting the opportunity to seal its status within the international digital economy.

SEC Endorses First Yield-Bearing Stablecoin Security by Figure Markets

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  • SEC approves Figure Markets’ YLDS, the first yield-bearing stablecoin in the U.S.
  • YLDS offers a 3.85% yield, marking a significant shift in blockchain financial products.
  • Figure Markets’ YLDS is backed by prime money market securities, ensuring stability.

The U.S. Securities and Exchange Commission (SEC) granted Figure Markets permission to launch the first yield-bearing stablecoin into the U.S. market. The approval allows users to get interest payments on their assets holdings while establishing the stablecoin sector as a legitimate marketplace. The agency confirmed through official filings on February 18th, 2025 that Figure Markets received approval to issue its US dollar-pegged YLDS stablecoin.

The stablecoin YLDS offers a yield of 3.85% and it received official security status from the SEC. Figure Markets CEO Mike Cagney confirmed the significance of this recent development. According to Cagney, YLDS presents itself as a banking system alternative with users maintaining control over their stablecoins while earning interest and using them for payments. The change demonstrates this rising blockchain trend of DeFi which develops finance services through autonomous financial tools.

SEC Regulation and the Growing Stablecoin Market

YLDS receives regulatory authorization when stablecoin regulations are gaining increased attention from regulatory bodies. Lawmakers in the U.S. have started working on essential regulatory issues that affect stablecoins by seeking enhanced transparency and integration with traditional financial systems. The approval of YLDS presents an industry-standard case for crypto companies offering interest-bearing stablecoins.

The global adoption of stablecoins continues to rise, and various regional governments have started implementing rules for these digital assets. The European Union, Hong Kong and Singapore have developed complete regulatory systems for stablecoins. Despite slower implementation the U.S. appears ready to shift its regulatory stance after approving YLDS.

image 215 10
Source: S&P Global

Additional stablecoin projects are adopting approaches similar to the ones already established in the market. Tether co-founder Reeve Collins is working on the decentralized stablecoin project Pi Protocol, which will offer interest to users later this year. The growth of yield-bearing stablecoins will accelerate as businesses receive approval to introduce such products.

Future Potential of Yield-Bearing Stablecoins

YLDS introduces substantial changes to the current process of providing financial products through public blockchain platforms. Users can generate interest income through this yield-bearing stablecoin as they simultaneously engage in peer-to-peer asset transfers. The new model enables opportunities to explore international payments alongside collateral asset transfers and worldwide payment systems.

Figure Markets provides users with self-custody wallets, ensuring complete control of their assets so they do not need to depend on external intermediaries. YLDS functions on the Provenance Blockchain through securities that match those used by prime money market funds, providing stability while ensuring security.

Binance.US Resumes USD Deposits and Withdrawals After 18 Months

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  • Binance.US reintroduces USD deposits and withdrawals via ACH.
  • SEC lawsuit and legal challenges led to earlier suspension of services.
  • OTC trading and Auto-Buy features now available for customers.

After an 18-month hiatus due to SEC legal challenges, Binance.US is once again offering USD deposits and withdrawals. The platform now includes new features such as bank transfer options, Auto-Buy, and OTC trading for users in the US.

Binance.US resumes USD deposits

Binance has resumed USD deposits and withdrawals for its US customers on Binance.US after an 18-month suspension. The service includes deposits and withdrawals through bank transfer (ACH) options. This follows the suspension of USD services in June 2023, after Binance.US faced a lawsuit from the US Securities and Exchange Commission (SEC).

In its announcement, Binance confirmed the gradual rollout of the service to eligible customers. 

The resumption of USD services comes after months of regulatory uncertainty. Binance.US halted USD deposits in June 2023 amid an SEC lawsuit, which accused Binance of regulatory violations. The SEC’s lawsuit also sought to freeze Binance.US assets, which further complicated the exchange’s operations in the US.

New Features on Binance.US

The platform noted that users can now deposit and withdraw USD via linked bank accounts. Additionally, customers can purchase cryptocurrencies through bank transfers and trade USD pairs, enhancing their trading experience.

Moreover, Binance.US has also reintroduced its “Auto-Buy” feature. This allows customers to schedule recurring crypto purchases at various intervals, including daily and monthly. Moreover, the platform now enables users to buy, sell, and convert cryptocurrencies to and from USD.

Binance has also made efforts to improve its institutional services. The platform now offers Over-The-Counter (OTC) orders for large transactions above $10,000. Furthermore, the platform supports API access for automated trading which enables institutional clients to streamline their trading strategies.

Regulatory Hurdles for Binance

In recent months, Binance.US has faced increased scrutiny from US regulators. These legal challenges have affected its banking capabilities and customer services. However, Binance.US’s latest move suggests a shift towards more stable operations and clear regulatory frameworks.

The regulatory environment for crypto exchanges remains complex. In November 2023, Binance paid a $4.3 billion settlement over Anti-Money Laundering (AML) law violations. However, the resumption of USD services represents a step toward operational normalization in the United States.

Crypto Debanking

This decision to resume USD services comes amid broader debates about the relationship between cryptocurrency companies and traditional financial institutions. Industry leaders have criticized the ongoing “debanking” of crypto firms, a term which refers to financial institutions cutting ties with the crypto sector.

Executives from firms like Anchorage Digital have raised concerns about various challenges such as systemic discrimination against crypto companies. 

This resumption reflects Binance.US’s commitment to regain customer trust and expand its services. Additionally, this may set a precedent for companies that face similar scrutiny in the US.The development highlights the importance of regulatory clarity and stable financial operations for cryptocurrency exchanges.