Cryptonics News – Week of February 28, 2021

Cryptonics News - Week of February 28, 2021

Here is a new edition of the news digest from Cryptoactu.com, for the week of February 21 to 28, 2021. A weekly publication that gives you an overview of the highlights of the last 7 days, in a few essential links. A good way to keep an eye on the cryptosphere while enjoying the weekend.

This week, the Ethereum community is considering a solution to (finally) reduce the costs of its network.

The ongoing investigation against the Stablecoin Tether (USDT) and its link to Bitfinex is resulting in a settlement and the payment of a fine.

In its cabal against the cryptoskills, the ECB is demanding a veto right on any desire to create a private stablecoin backed by the euro.

The US SEC is wondering how it would be possible to regulate such a decentralised universe as the DeFi.

The Kraken platform launches a call for funds from private investors to reach a total value of 10 billion dollars.

As a bonus this week, a presentation of the non-fungible token (NFT) market. An unprecedented explosion between use cases and speculative bubble.

Have a great weekend and see you next week for more crypto adventures.

The Ethereum fee racket – A bad memory thanks to the EIP-1559?

The Ethereum fee racket - A bad memory thanks to the EIP-1559?

The issue is currently at the centre of all attention. But also of all the important changes in the cryptomoney scene. And it concerns the management of costs on the Ethereum network.

A reality that imposes an unwelcome immobility within the DeFi and for most of the small token holders. Because what is the point of carrying out an operation that consumes almost all of your profits in costs ? But there may be a solution…

Tether (USDT): $18.5 million fine

Tether (USDT): $18.5 million fine

Tether (USDT): $18.5 million fine

The New York Attorney General’s Office (NYAG) has formally terminated the investigation to determine whether the Bitfinex platform and its sister company Tether had continued to issue the stablecoin USDT when they had temporarily lost banking access.

This resulted in a ban from operating in the New York jurisdiction and a fine to be settled jointly by the exchange and the issuing company.

ECB vs. stablecoins in euro – A veto right is required

ECB vs. stablecoins in euro – A veto right is required

ECB vs. stablecoins in euro - A veto right is required

Dollar-backed cryptomoney is on the upswing. Whether it is the leading Tether (USDT) of its more decentralized versions such as the DAI, or linked to an exchange platform such as the BUSD.

A few emblematic examples within a stablecoin offering that is growing steadily over the months. And which could emerge in the form of a digital euro, but only if the ECB does not veto it.

SEC vs DeFi – How to impose regulation on a decentralised system?

SEC vs DeFi – How to impose regulation on a decentralized system ?

SEC vs DeFi - How to impose regulation on a decentralized system ?

Going through the SEC box is to the world of cryptosystems what a police check is to a motorist. It is impossible to know whether it is a question of applying a law or exposing oneself to a will of racketeering, however institutional it may be. The issue is not to punish a crime, but to find this loophole that could result in a fine of several million dollars.

For the will of the American Security and Exchange Commission has never been friendly in this area. And it looks like his next victim is called the DeFi.

Kraken is aiming for a $10 billion valuation…

Kraken aims for $10 billion in value creation

Kraken aims for $10 billion in value creation

While Coinbase, its great rival, prepares its IPO, the Kraken exchange platform is looking for a minimum valuation of 10 billion dollars.

The exchange is reportedly already in talks with major investment companies for a new round of financing.

Explosion of NFT tokens – Between use case and speculative bubble

Explosion of NFT tokens – Between use case and speculative bubble

Everybody has heard about these record sales that make a simple non-fungible token (NFT) the source of significant gains. This in a field that is becoming the digital face of contemporary art, but not only.

For the cases of use of these immaterial objects can also be related to the world of sports or video games. But always with the idea of making them unique elements to be collected.

Cryptonics News – Week of February 28, 2021
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