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The SEC’s recent policy reversal and drop of lawsuits against prominent companies such as Kraken and Coinbase marks a significant regulatory win for the cryptocurrency industry. This sudden change in approach comes after years of intense scrutiny and uncertainty surrounding the legal status of digital assets.
In particular, Ethereum’s transition to proof-of-stake (PoS) has created an interesting dynamic. Chair Gary Gensler, once notorious for his anti-crypto stance, seemed unwilling to classify the token as a security despite its original proof-of-work (PoW) consensus algorithm. However, with the shift towards PoS, the SEC’s approach has undergone a stark U-turn.
As part of this newfound willingness to work with the industry, the agency has now abandoned its appeal against Ripple, allowing for a fresh start and potential regulatory clarity in the XRP community.
While it remains unclear what specific implications these changes will have on individual tokens or companies, one thing is certain: the regulatory landscape surrounding digital assets has become significantly more favorable.
Source: https://u.today/bitcoin-mining-secures-huge-regulatory-win-in-the-us
