The push to advance the digital currency ecosystem has taken a new twist. Reps. Tom Emmer and Ritchie Torres have introduced a new blockchain and crypto regulation bill directed at developers. Dubbed the Blockchain Regulatory Certainty Act (BRCA), this bill is the second time it will be introduced in Congress and clarifies the definition of money transmitters, which concerns developers. The BRCA Blockchain Bill: Key Highlight This bill aims to establish that developers who do not custody user funds are not money transmitters. Notably, it provides the necessary legal clarity to position the United States as the top hub for developers. “If you don’t custody consumer funds, you aren’t a money transmitter. Plain and simple,” Congressman Emmer said in an official statement. “The longer we delay this commonsense clarification, the greater the risk that this transformative technology is pushed overseas, harming American investors and innovators.” Providing more context, the lawmaker… Read More at Coingape.com
Amid the ongoing market uncertainty, crypto whales are seen offloading Ethena (ENA) tokens. Today, March 6, 2025, a prominent crypto expert posted on X (formerly Twitter) that whales have dumped a significant $148 million worth of ENA tokens onto the exchanges in the past 48 hours.
This substantial token movement from wallets to exchanges has the potential to create selling pressure and drive the price lower. However, despite this, the ENA price moved in the opposite direction, registering a gain of over 8% in the past 24 hours and currently trading near $0.38. During the same period, its trading volume surged by 160%, indicating heightened participation from traders and investors compared to the previous day.
$19 Million Worth ENA Outflow
Despite the offloading of 148 million ENA tokens onto exchanges, some investors and long-term holders have been accumulating the tokens, according to on-chain analytics firm Coinglass.
Data from spot inflow/outflow revealed that exchanges have witnessed an outflow of a significant $19 million worth of ENA tokens in the past 48 hours. Such outflows from exchanges indicate potential accumulation amid price drops and could create buying pressure and upside momentum.
Traders Bullish Bet
Besides the mixed sentiments among whales and long-term investors, intraday traders are also supporting this bullish activity. In the past 24 hours, traders have been over-leveraged at $0.362 on the lower side and $0.386 on the upper side.
Data further revealed that $0.362 is a key level where traders have built $5.50 million worth of long positions, while $0.386 is a level where traders have built $2.17 million worth of short positions. These positions at over-leveraged levels indicate that bulls are dominating and could support ENA in an upcoming rally, helping it recover its price.
ENA Technical Analysis and Upcoming Levels
According to expert technical analysis, ENA has successfully retested its crucial support level of $0.345 and now appears to be rallying upward.
Source: Trading View
Based on historical price patterns, if the asset holds this level and closes a daily candle above $0.345, there is a strong possibility it could soar by 25% to reach the $0.50 level in the coming days.
The post ENA Price Poised for 25% Rally Despite Whale Dumping appeared first on Coinpedia Fintech News
Amid the ongoing market uncertainty, crypto whales are seen offloading Ethena (ENA) tokens. Today, March 6, 2025, a prominent crypto expert posted on X (formerly Twitter) that whales have dumped a significant $148 million worth of ENA tokens onto the exchanges in the past 48 hours. 148 million #Ethena $ENA have been moved to exchanges …
World (formerly Worldcoin) suffered a legal blow in Kenya after the High Court ruled that its biometric data collection practices violated constitutional privacy rights.
The court’s decision marks a landmark victory for digital rights advocates in the country and beyond and comes amid growing global scrutiny of the controversial crypto and identity project.
Kenyan High Court Slams Sam Altman’s World Over Privacy Violations
In a judgment delivered on Monday, Justice Aburili Roselyne granted a judicial review application filed by Kenya’s Katiba Institute. The court ordered the Worldcoin Foundation and its agents to terminate all biometric data processing.
The court also ruled that all previously collected data from Kenyan users should be permanently deleted.
“An order of prohibition [is issued] restraining Worldcoin Foundation and its agents from further processing, collecting or dealing in Biometric data without undertaking (or using an inadequate) Data Protection Impact Assessment… or using consent obtained by inducement of a cryptocurrency — Worldcoin,” Katiba Institute reported, citing the ruling.
The judge issued a certiorari order, effectively quashing World’s decision to collect and process such data in Kenya. She cited violations of Kenya’s Data Protection Act, 2019.
A third order of mandamus compels the foundation to delete all biometric data obtained within seven days permanently. The court called out Worldcoin for breaching the law in this regard. The Data Protection Commissioner will supervise the implementation of the order.
“High Court orders Worldcoin to delete biometric data collected in Kenya within 7 days,” local media reported.
High Court orders Worldcoin to delete all biometric data of Kenyans unlawfully collected using its orb, under the supervision of the Office of the Data Protection Commissioner pic.twitter.com/A6AiSSr1HD
ICJ Kenya, committed to protecting and promoting human rights, reiterated the news in a post. It highlighted the court’s determination that constitutional rights, especially the right to privacy, must be upheld even in the digital age.
“The Court affirmed that Worldcoin commenced data collection without valid consent from the Office of the Data Protection Commissioner (ODPC) and without conducting the required DPIA, in breach of Sections 25, 26, 29, 30, and 31 of the Data Protection Act, 2019,” wrote ICJ Kenya
This break comes nearly two years after the Katiba Institute filed the case in August 2023. The organization, which promotes the implementation of Kenya’s Constitution, challenged Worldcoin’s data collection practices.
Constitutional lawyer Joshua Malidzo Nyawa, who spearheaded the prosecution, did not immediately respond to BeInCrypto’s request for comment.
Worldcoin Collecting Biometric Data From Kenyans
In hindsight, the data collection process was controversial. As it happened, Worldcoin offered Kenyans $50 worth of WLD tokens per person. In exchange, they had to volunteer to scan their irises using the Orb device, effectively signing away their biometric data.
The institute argued that this inducement compromised the legitimacy of user consent. Specifically, it failed to meet Kenya’s legal thresholds for data protection.
“The owner of Worldcoin, Sam Altman, is banned from collecting this data in his home country, the US, why do we allow him in Kenya,” parliament majority leader Kimani Ichung’wah said.
The ruling is likely to reverberate across jurisdictions where World operates. Similar concerns have already led to regulatory suspensions in Indonesia. As BeInCrypto reported, authorities halted Worldcoin’s activities over potential violations of data protection laws.
Despite this growing resistance, the project is pushing forward in the US. It recently launched in six cities, including Atlanta, Los Angeles, and San Francisco.
These legal developments had a swift impact on investor sentiment. Worldcoin’s native token (WLD) dropped nearly 10% in the past 24 hours. According to BeInCrypto price data, WLD was trading at $0.88 as of this writing.
