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📌 Consensys has opposed the SEC on the grounds that ETH tracks physical assets | Cryptopolitan

Consensys, one of the most important players in the Ethereum ecosystem, known for developing the MetaMask wallet, offers a detailed discussion of the differences between Ethereums security mechanisms, particularly PoW, and its alternatives. In a letter sent to the SEC, Consensys points out several aspects of Ethereums PoS implementation Algorithmic adjustments to ensure faster block completion, role separation to limit the influence of only certain groups of players, high costs that can be incurred in an attack, severe penalties for participants in case of fraud, a much smaller and therefore smaller carbon footprint compared to Bitcoin, and so on. Bitcoin

– Consensys, one of the most important players in the Ethereum ecosystem, known for developing the MetaMask wallet, offers a detailed discussion of the differences between Ethereum’s security mechanisms, particularly PoW, and its alternatives. In a letter sent to the SEC, Consensys points out several aspects of Ethereum’s PoS implementation Algorithmic adjustments to ensure faster block completion, role separation to limit the influence of only certain groups of players, high costs that can be incurred in an attack, severe penalties for participants in case of fraud, a much smaller and therefore smaller carbon footprint compared to Bitcoin, and so on.

The company also talked about Ethereum’s strong developer community and that the blockchain operating system is fully transparent, public and very secure. To convince the SEC, Consensys emphasized these same points and claimed that Ethereum’s enhanced security features are superior to those of bitcoin. To convince the SEC, Consensys emphasized these same points and stated that Ethereum’s enhanced security features are superior to those used in bitcoin-based ETFs, which Consensys considers its baseline.

The path to ETH Spot ETF approval is through careful, rigorous testing and the addition of cryptocurrencies to a well-diversified portfolio.

In a time of ethical clarity and impatience, the debate over ETH spot ETFs has generated a lot of questions and excitement. Bitcoin spot ETFs have been fairly widely accepted, but ether ETFs are still under review The situation is becoming increasingly confusing as a key SEC ruling against the VanEck fund (one of many) is due on May 23 WHO is showing positive signs Although the latest 2023 date is encouraging, more cautious observers say the ruling could be delayed until 2024, with some quietly suggesting it could be rejected altogether.

It is no small matter that leading players including Fidelity, Hashdex, and ARC 21Shares are on the waiting list for the SEC’s decision; importantly, the SEC has put in place procedures for investment firms to separate themselves from buying ether in October 2023.

Speculative activity in anticipation of the SEC’s response has not only been the subject of expert analysis, but has also taken over the crypto betting and esports markets, with at least 12 million bets including the qualification of etherium. However, the heated debate among crypto-enthusiasts confirms that the SEC’s decision will have a significant impact on the digital currency market.

Grayscale, an investment management firm with a financial interest in allowing ETFs in the cryptocurrency market, has reacted positively to the possibility of a victory before the May deadline: disregarding the SEC’s “lack of engagement,” Grayscale considers it “negative hype” that the regulator will allow ETF products to trade in the U.S. market does not mean the opposite: it could mean that the SEC will allow ETFs to trade in the U.S. market.

The crypto community is still waiting for the SEC’s opinion on whether it is safe or appropriate to regulate the offering of etherium ETFs through Ethereum’s PoS model. For the blockchain industry, ConsenSys’ insistence that the SEC hold a fair hearing is an important step toward building a healthy dialog between the digital asset industry and regulators that reflects the complexities and differences of the fiat money system and the cryptocurrency sector. The outcome of such a discussion could result in the creation of new horizons for cryptoinvestment, the expansion of blockchain technology in finance and, subsequently, the emergence of new faces in the digital financial revolution.

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