The SEC has become more crypto-friendly, initiating steps to resolve several issues. The Coinbase lawsuit is nearing its end, while the case against Binance has been suspended. However, more actions are required. Today’s hack at ByBit may lead to a renewed downturn, but an overdue rise is anticipated. What actions are Senators taking?
Staking and the Crypto Bull Market
Chair Gary Gensler had firmly opposed crypto staking. However, the new administration considers the topic debatable. This matter emerged during discussions with various crypto stakeholders at the beginning of February. Now, Senator Lummis is taking action for cryptocurrencies.
A letter was sent to the SEC requesting evaluation and clarification on the staking issue related to cryptocurrencies. If the SEC permits staking for ETF issuers, it could mean immense annual profits, increasing investor interest in ETFs. An investor acquiring a $100,000 ETH ($2,648.99) ETF could earn $5,000 annually, plus profits from ETH price appreciation—a good ratio.
Moreover, consider the potential for double-digit annual staking returns for altcoins. Investors…
