12
Apr, 2025
US crypto industry needs band-aid now, 'long-term solution' later — Uyeda
Altcoin News, Bitcoin News, Crypto Analytics, Crypto Industries & Currency Updates
A fast-tracked temporary crypto regulatory framework could bolster innovation within the US crypto industry while permanent regulations are still in the works, says acting US Securities and Exchange Commission (SEC) chair Mark Uyeda.
“A time-limited, conditional exemptive relief framework for registrants and non-registrants could allow for greater innovation with blockchain technology within the United States in the near term,” Uyeda said at the SEC’s April 11 Crypto Task Force roundtable titled “Between a Block and a Hard Place: Tailoring Regulation for Crypto Trading.”
Relief measures may address immediate challenges
Uyeda said this might be the short-term answer as the SEC works toward a “long-term solution,” at the roundtable with SEC members and crypto industry executives, including Uniswap Labs’ Katherine Minarik, Cumberland DRW’s Chelsea Pizzola, and Coinbase’s Gregory Tusar.
He flagged state-by-state regulation of crypto trading as a concern, warning it could lead to a “patchwork of state licensing regimes.”
Uyeda said that a favorable federal regulatory framework would ease the burden for market participants wishing to offer tokenized securities and non-security crypto assets, allowing them to operate under a single SEC license instead of navigating “fifty different state licenses.”
He urged crypto market participants to share feedback on areas where “exemptive relief” could be appropriate.
Uyeda also reiterated the benefits of blockchain technology in financial markets during the roundtable discussion.
“Blockchain technology offers the potential to execute and clear securities transactions in ways that may be more efficient and reliable than current processes,” Uyeda said.
Uyeda to fill chair position until Atkins is sworn in
“Blockchains can be used to manage and mobilize collateral in tokenized form to increase capital efficiency and liquidity,” he added.
Uyeda will continue serving as acting SEC chair until US President Donald Trump’s nominee, Paul Atkins, is officially sworn in.
On April 10, the US Senate confirmed Atkins as chair of the SEC in a 52-44 vote largely along party lines.
Related: SEC, Ripple file joint motion to pause appeals in XRP case
Uyeda has served as acting SEC chair since Jan. 20, succeeding former chair and crypto skeptic Gary Gensler. He’s been widely seen within the industry as a pro-crypto advocate.
On March 18, Cointelegraph reported that Uyea said the SEC could change or scrap a rule proposed under the Biden administration that would tighten crypto custody standards for investment advisers.
“I have asked the SEC staff to work closely with the crypto task force to consider appropriate alternatives, including its withdrawal,” Uyeda said.
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Learn MoreUS crypto industry needs band-aid now, 'long-term solution' later — Uyeda
12
Apr, 2025
Russia Expects BRICS Payment Network to Go Global—SWIFT’s Monopoly Under Threat
Altcoin News, Bitcoin News, Crypto Industries & Currency Updates
BRICS is accelerating its break from Western financial dominance with a game-changing payment system that could soon welcome non-members, challenging SWIFT’s global stronghold. Lavrov Expects BRICS Alternative to SWIFT to Be Open to Non-Members Russian Foreign Minister Sergey Lavrov, addressing journalists in Almaty on April 11 after a Commonwealth of Independent States (CIS) Council of […] …
Learn MoreRussia Expects BRICS Payment Network to Go Global—SWIFT’s Monopoly Under Threat
11
Apr, 2025
Why is Solana (SOL) price up today?
Altcoin News, Bitcoin News, Crypto Analytics, Crypto Industries & Currency Updates
Solana (SOL) price is outperforming the crypto market on April 11, up 7.45% over the last 24 hours to trade at $121.
SOL/USD daily chart. Source: Cointelegraph/TradingView
Let’s take a closer look at the factors behind Solana’s rally today.
Renewed SOL ETF approval optimism
Solana price appears to be benefitting from a broader market bounce across the entire cryptocurrency market and renewed optimism surrounding a potential Solana ETF approval in the US following Paul Atkins’ appointment as SEC chair. Atkins, known for his crypto-friendly stance, has sparked speculation that altcoin ETFs, including Solana, could face a smoother path to approval.
The betting odds for a SOL ETF approval in 2025 now stand at 76% on Polymarket. Over the past three months, the probability of approval has swung 11% in favor of the bulls, which was around 65% on Jan. 4.
SOL ETF approval odds on Polymarket. Source: Polymarket
Several major asset managers have submitted applications for a Solana ETF, including VanEck, Grayscale, 21Shares, Bitwise, and Canary Capital.
Market participants believe such an offering could attract new capital and enhance liquidity in SOL trading.
Margin short liquidations push SOL price higher
Rising liquidations in Solana’s derivatives market also played a role in today’s rally, according to data from CoinGlass. The crypto futures market witnessed the liquidation of over $226 million worth of leverage positions in the last 24 hours, with $152.4 million being short liquidations.
Over $9.3 million in short SOL positions were liquidated against $2.1 million in long liquidations over the same period.
Total crypto liquidations. Source: CoinGlass
Related: Fartcoin rallies 104% in a week — Will Solana (SOL) price catch up?
Solana’s RSI shows a bullish divergence
On SOL’s daily chart, there is a bullish divergence with the daily RSI which preceded today’s price increase.
SOL/USD daily chart. Source: TradingView
The bullish divergence could be a hint that the bulls are gaining control, and if the trend holds, SOL price could rally toward the 50-day SMA above $130 in the short term.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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