“The real competition is not other chains, it’s the rapidly expanding centralized world that is imposing itself on us as we speak.” So says Ethereum co-founder Vitalik Buterin addressing the current volatile regulatory realities in crypto. In other news, venture capitalist Tim Draper adjusted the timeframe of his $250K bitcoin price prediction, and a former SEC official asks the crypto community to stop the “personal attacks” against the U.S. Securities and Exchange Commission and its chair, Gary Gensler. This and more in the latest Bitcoin.com News Week in Review.
Ethereum Co-Founder Vitalik Buterin on SEC Crypto Enforcement Actions: ‘The Real Competition Is the Centralized World’
Vitalik Buterin, a co-founder of Ethereum, the second largest cryptocurrency project by market cap, took a stance on the recent actions that the U.S. Securities and Exchange Commission (SEC) has taken in the field of enforcement against crypto. Buterin mentioned how projects like Solana were included in these legal actions and stated that the real competition was the “centralized world.”
Tim Draper Adjusts Timeframe for His $250K Bitcoin Price Forecast
Venture capitalist Tim Draper has adjusted his projected timeframe for bitcoin’s price to reach $250,000. Maintaining an optimistic outlook, Draper still expects the world’s largest cryptocurrency to reach his predicted price target but acknowledged that it may take “a little longer.”
Former SEC Official Defends Chair Gensler — Urges Crypto Community to Quit Personal Attacks, Focus on Facts
The U.S. Securities and Exchange Commission (SEC)’s former head of internet enforcement has defended SEC Chairman Gary Gensler’s approach to regulating the crypto industry. “It’s time to attack the facts and law on SEC positions and quit the personal attacks on the SEC Chair or the SEC staff,” he stressed. “It’s an anemic and flawed pivot that does not work in a courtroom and is a transparent and bush-league attempt to rally the mob.”
Nasdaq Resubmits Blackrock Spot Bitcoin ETF Application, Inks Agreement With Coinbase for Surveillance-Sharing
After the four firms that filed for spot bitcoin exchange-traded funds (ETFs) resubmitted their applications with the U.S. Securities and Exchange Commission (SEC), the asset manager Blackrock followed suit with an amended application. Similar to Cboe’s refiling of registrations from Fidelity, Vaneck, Invesco, and Wisdomtree, Nasdaq amended the Blackrock spot bitcoin ETF filing by incorporating Coinbase as a surveillance-sharing agreement (SSA) partner.
What are your thoughts on this week’s stories? Can decentralization overcome what many in crypto see as the ineptitude or outright malice of regulatory bodies? Be sure to let us know in the comments section below.
