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Today in crypto, global trade concerns continue pressuring investor sentiment, risking a potential Bitcoin correction below the key $75,000 support level, and the US Securities and Exchange Commission has released a statement saying it does not view memecoins as securities as it drops its lawsuits against Coinbase, Consensys and Gemini.

According to Patrick Hansen, senior director of EU strategy and policy at Circle, the list includes Banking Circle, stablecoin issuer Circle, Crypto.Com, Fiat Republic, Membrane Finance, Quantoz Payments, Schuman Financial, Societe Generale, StabIR and Stable Mint.

Bitcoin’s range-bound price action may be manufactured based on the trajectory of the past months, according to Samson Mow, CEO of Jan3 and founder of Pixelmatic.

FTX Digital Markets, the Bahamian unit of the collapsed cryptocurrency exchange FTX, is set to repay the first group of creditors on Feb. 18 in a significant development for the crypto industry following the exchange’s almost $9 billion collapse.

In a key moment for the crypto industry’s recovery, FTX’s Bahamas wing will honor the first batch of repayments for users who are owed less than $50,000 worth of claims.

Trump’s order created a crypto working group led by White House AI and crypto czar David Sacks to come up with a legal framework for crypto and stablecoins, along with studying the possible creation of a national crypto stockpile.

Nigeria has been a leader in crypto adoption. According to Consensys’ 2024 Perception Survey, 84% of respondents in Nigeria said they owned a crypto wallet. In its Geography of Cryptocurrency Report published in October 2024, Chainalysis ranked the country No. 2 overall in global crypto adoption, highlighting the country’s appetite for decentralized finance.

In August 2024, the SEC of Nigeria issued its first license to a crypto exchange, which signaled the beginning of regulatory clarity and oversight for cryptocurrency in the African nation. Later, in September 2024, the SEC planned to start enforcement actions against unregulated exchanges — the catch being that there were only two regulated exchanges in the country at that time.

Determining that BTC mining could help balance electricity demand and supply to prevent further blackouts, ERCOT’s demand response programs have seen voluntary participation by the miners.

The Nigerian Securities and Exchange Commission (SEC) said that it is also looking to increase crypto licensing, issuing licenses to crypto exchanges so that transactions can be monitored and taxed. In the agency’s view, this will also increase investor confidence and comfort.

Nigeria plans to amend current digital asset regulations to tax crypto transactions, according to a Feb. 18 report by Bloomberg. The move, which would bring all eligible crypto transactions on regulated exchanges into the formal tax net, could generate “substantial revenue” for the country.

The new legal system could set a precedent for more blockchain-based legal applications, thanks to the transparency and transformative use cases of the shared blockchain ledger.

The system’s basics could theoretically be applied to resolve any legal disputes in blockchain environments, not just bug bounty-related issues. Amador explained:

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