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Cardano founder Charles Hoskinson says the network must undergo growing pains to “win” against other blockchains. The first step for Cardano will be to solve its lingering stablecoin issue, but critics argue that Hoskinson’s proposed solution is not the ideal strategy. ‘Grow Up or Die,’ Says Charles Hoskinson As criticism mounts over a proposal to
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Yesterday, El Salvador’s National Commission of Digital Assets (CNAD) met with staff members from the SEC’s Crypto Task Force. They sketched out plans for a cross-border “regulatory sandbox” for crypto.
This plan involves two pilot programs, each costing less than $10,000, where a US-based broker would partner with a Salvadoran tokenization firm. The plan is tailored to give data on the Task Force’s top regulatory priorities.
The SEC’s meeting with CNAD discussed plans for El Salvador, as recorded in a log on the Commission’s site. In the meeting, the parties explicitly discussed priorities in line with Commissioner Hester Peirce’s initial statement announcing the Crypto Task Force.
Of four stated goals, the notion of a “cross-border sandbox” was listed first.
“This initiative offers the SEC Crypto Task Force a live, real-world case study to evaluate streamlined regulatory approaches for digital assets—an opportunity to observe and refine frameworks that could enhance US market innovation. A key lesson from El Salvador’s experience is the transformative potential of tokenization, particularly in real estate,” it claimed.
This sandbox will take the form of a pilot program with two scenarios, each costing $10,000 or less.
In Scenario 1, a US-based real estate broker will partner with a Salvadoran tokenization firm. They will enable investors to purchase tokenized shares of a piece of property.
Scenario 2 tests these firms’ ability to raise capital by selling tokenized shares, using this capital to actually launch a project. It doesn’t specify the project in question, but this scenario doesn’t mention real estate in any capacity.
Both these endeavors will give the SEC valuable data on joint business ventures in El Salvador.
Representatives from El Salvador and the SEC were joined by Erica Perkin, a lawyer specializing in digital asset consulting, and Heather Shemilt, a former partner at Goldman Sachs.
According to the document, participants discussed these proposals, but it doesn’t seem like they actually reached a binding agreement.
The Task Force only sent some of its staff to this meeting, no Commissioners were actually present. Still, this partnership with El Salvador could give the SEC a lot of useful insights.
This plan offers a low-cost way to gather hard data on half of the Task Force’s highest priorities, which seems like a valuable opportunity.
The post SEC Crypto Task Force Explores Cross-Border Regulation With El Salvador appeared first on BeInCrypto.
MultiBank Group, known globally as the largest regulated financial derivatives institution, is entering a new chapter with the launch of its digital asset platform, MultiBank.io, and its Ethereum-based utility token, $MBG. With over two million clients across 25 global offices and an average daily trading volume of $35 billion, the Group’s expansion into crypto is now positioning it to bridge the gap between traditional finance and the Web3 economy. MultiBank: What’s special? As the crypto industry evolves, so too does the profile of its users. MultiBank Group is one of the few entities in the world with both the regulatory credentials and infrastructure to serve both retail and institutional users — and now, to offer them access to compliant, utility-driven crypto products under one unified brand. The Group’s upcoming token, $MBG, launches with real utility from day one, including the ability to: Pay fees across MultiBank platforms and receive cashback… Read More at Coingape.com
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PancakeSwap’s CAKE token is the market’s top performer today, surging 21% in the past 24 hours. At press time, the altcoin trades at $2.56.
This rally comes as CAKE records its highest daily spot inflow in a month amid strong demand and renewed investor interest in the token.
CAKE’s price rally is primarily driven by the sharp increase in trading activity on the PancakeSwap decentralized exchange (DEX). Over the past few days, the platform has seen a significant uptick in daily trading volume, outperforming Ethereum’s Uniswap and Solana’s Raydium.
The trend has triggered a surge in demand for the DEX’s native token, CAKE, causing its value to soar by double digits. The uptick in buying pressure is reflected by the token’s spot inflows, currently at $3.37 million, its single-day highest figure in the past month.
When an asset records spot inflows, the number of tokens purchased and moved into spot markets has increased, indicating rising demand. CAKE’s high spot inflows suggest that investors are actively accumulating the asset. If this buying pressure continues, it can drive further price appreciation.
This is a bullish signal, especially as it is accompanied by positive market sentiment, as shown by the token’s funding rate, which is 0.0021% as of this writing.
The funding rate is a periodic fee exchanged between long and short traders in perpetual futures contracts to keep the contract price aligned with the spot market. A positive funding rate means long traders are paying short traders, indicating strong demand and bullish market sentiment for CAKE.
With rising inflows and growing demand, CAKE’s price performance suggests that traders are positioning for further upside. If demand continues at this pace, the token could extend its gains, drawing even more liquidity into PancakeSwap’s ecosystem.
CAKE’s rally has pushed it significantly above its 20-day exponential moving average (EMA) which now forms dynamic support below its price at $1.93.
This moving average measures an asset’s average price over the past 20 trading days. It gives more weight to recent price data, making it more responsive to price movements than a simple moving average.
When an asset’s price climbs above the 20-day EMA, it signals bullish momentum, suggesting that buyers are in control and the asset may continue its upward trend.
If this trend persists, CAKE could extend its uptrend to $2.90.
On the other hand, a resurgence in profit-taking activity could prevent this from happening. If CAKE demand stalls and it sheds its recent gains, its value could plunge to $2.41. If that support level fails to hold, the token’s price could drop to $2.01.
The post PancakeSwap (CAKE) Soars 21% as Inflows Hit Monthly High, Surpassing $3 Million appeared first on BeInCrypto.