allvahao07

@allvahao07

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My pup had a fresh bath and is all clean now

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Eli Cohen, general counsel of the RWA tokenizing platform Centrifuge, said in a statement to Cointelegraph that the rule never made “any sense and was unworkable in practice.”

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“We’re seeing the United Arab Emirates purchase Bitcoin. You’re going to look at some of the sovereign wealth funds around the world who are not as tied up in a democratic republic like we are, be able to just make it so,” Lummis reportedly said.

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The process of making a cryptocurrency that can start trading in minutes shows how easy it would be to tokenize stocks in private big-name firms such as OpenAI and SpaceX, says Robinhood CEO Vladimir Tenev.

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Tether’s competitors are working to push the world’s largest stablecoin issuer out of the crypto market, according to the company’s CEO, Paolo Ardoino.

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https://warpcast.com/viabsa3ps/0xe999ca5a

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Let’s face it: Crypto is still full of scams and rug pulls. KYC can help crypto earn legitimacy. KYC controls reassure newcomers that some basic standard of accountability exists. Also, the more real-world assets (RWAs), such as property titles or tokenized securities, are ported onchain, the more regulators will demand some identity proof to mitigate fraud and ensure legal enforceability, preventing an ownership vacuum on the physical level.

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Yet the Libertarian or cypherpunk perspective sees KYC as an invasive overreach. Criminals can still exploit loopholes, while honest users are treated like suspects. The average user feels hassled by ID checks at every turn. Meanwhile, personal data collected under KYC often ends up leaked or hacked, exposing users to identity theft.

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From a regulator’s standpoint, KYC makes sense: If you want the protection of a regulated market, you must monitor suspicious activities. If crypto wants real-world integration — tokenizing tangible assets, bridging traditional banks and satisfying institutional investors — there are norms to be followed.

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The rules hit our wannabe anonymous crypto ecosystem with full force. Centralized exchanges now require ID documents, selfies and proof of address, echoing traditional finance. KYC frameworks now shape the user experience at many crypto on- and off-ramps, slowly approaching the decentralized finance (DeFi) space.

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The 21st century brought a tighter clampdown. After 9/11, the USA PATRIOT Act (2001) demanded comprehensive Customer Identification Programs. Europe followed with successive AML Directives, gradually getting more sectors, including crypto exchanges, under KYC requirements. Over time, “KYC” became a universal norm — a checklist for any institution deemed part of the regulated financial system.

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KYC regulations emerged from decades-long efforts to fight financial crime. The US Bank Secrecy Act (BSA) of 1970 required financial institutions to document and report large cash transactions. This laid the groundwork for modern customer due diligence, even before the term “KYC” was coined. As global financial systems expanded, the G7 created the Financial Action Task Force (FATF) in 1989, issuing recommendations that countries adopt Anti-Money Laundering (AML) measures, including identifying customers.

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Meme-based investing gained increased retail popularity with the first GameStop short squeeze in 2021, which saw GameStop stock price soar by over 1,000% in a month.

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While Radin called the memecoin ETF filings an “intriguing experiment for crypto,” he warned that the price performance of these coins is dependent on cultural participation.

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“Investing in such products is more of a play for those looking to capture the speculative upside, similar to betting on a small-cap stonk before it takes off,” Radin said. “It’s crucial to remember the lesson from the GameStop saga: When the hype fades, the drop can be severe,” he added.

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Radin said memecoin price action is dependent on trends and fueled by retail speculation.

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While a potential ETF could bring more institutional investment and stabilize the price volatility of the underlying memecoin, it still presents significant risks for investors.

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TRUMP fell by over 14% in the 24 hours to the time of writing to trade at $35.81, around 52% down from its all-time high of over $75 recorded on Jan. 19, CoinMarketCap data shows.

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The memecoin ETF filings follow the launch of the TRUMP token on Jan. 18 and the Official Melania (MELANIA) token on Jan. 19. These tokens reportedly brought over 200,000 new users onchain, according to Moonshot, the platform promoted by US President Donald Trump for purchasing his memecoin.

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“The approval of TRUMP, BONK, and DOGE ETFs is more likely now with Trump’s new crypto-friendly SEC picks,” he told Cointelegraph. “It’s a bold move, potentially bringing more liquidity and mainstream acceptance to memecoins.”

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