Crypto Pulls One Back on SEC as More Traditional Firms Adopt Crypto 🥊

Crypto Pulls One Back on SEC as More Traditional Firms Adopt Crypto 🥊

Hello 👋 

Trust you had a great weekend. Welcome to another Coinigy news roundup.

Is this the bull run where crypto finally earns its place in the world?

Firstly, the SEC was fined $1.8m in a case against a crypto company.

As if that wasn’t enough, Mastercard and PayPal made huge crypto-focused announcements during the week.

… we won’t even mention Trump and Biden’s race to win the crypto community’s heart.

Of course, there were some crazies like the whole celebrity coin launches…

But still, more eyes are on crypto now…

Is this good for the market?

Anyway, here are the big stories for the week:

  • Crypto Industry Cheers as SEC Must Pay $1.8 Million for ‘Gross Abuse’ of Power
  • Mastercard Launches Crypto Credentials to Simplify Digital Transactions
  • PayPal integrates stablecoin with Solana blockchain
  • Crypto voters are already disrupting the 2024 election — and it’s set to continue

Crypto Industry Cheers as SEC Must Pay $1.8 Million for ‘Gross Abuse’ of Power

The Securities and Exchange Commission has been dealt another blow in its crusade against crypto after a judge ordered the regulator to pay $1.8 million following its failed lawsuit against DEBT Box. Last year, the SEC alleged that crypto mining firm DEBT Box “lied to investors” in a “fraudulent scheme” where it raised $50 million in Bitcoin and Ethereum. 

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Mastercard Launches Crypto Credentials to Simplify Digital Transactions

Mastercard's Crypto Credential Initiative marks a significant leap in the integration of blockchain technology into mainstream financial services. Launched to simplify and secure cryptocurrency transactions, it replaces complex blockchain addresses with user-friendly aliases.

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PayPal integrates stablecoin with Solana blockchain

PayPal, the global leader in digital payment solutions, has announced its decision to integrate its stablecoin, PayPal USD (PYUSD), with the Solana blockchain. This strategic move is aimed at expediting transaction processes and reducing associated costs. The collaboration marks a critical progression in the fintech industry, merging Solana’s high-performance blockchain with the vast user base and trust PayPal commands.

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Crypto voters are already disrupting the 2024 election — and it’s set to continue

In May, the United States Congress voted in favor of two pieces of pro-crypto legislation for the first time, after years of political deadlock. Observers were struck by the support from leading Democrats, who acted in opposition to direction from the White House.

Read More.

Other Highlights Worth Mentioning

Donald Trump Makes History: First US President to Accept Bitcoin Lightning Network Payments for Campaign Donations - CoinStats

Binance France changes ownership following regulator warning - Cointelegraph

Possible BNB Chain exploit sees $80K in BTC lost - TradingView

U.S. Lawmaker at Center of Crypto Negotiation Predicts Digital Assets Law by Next Year - CoinDesk