- SEC’s Project Crypto aims to simplify rules, easing licensing and protecting self custody.
- CoinDCX employee arrested after 44 million dollar hack, but customer funds are safe.
- Ether jumps 56 percent in July, driven by ETF inflows, like 1990s tech stocks.
SEC Kicks Off Project Crypto for Better Rules
Big news in the crypto world today! The US SEC just launched “Project Crypto” to shake up its outdated rules for digital assets.
SEC boss Paul Atkins says it’s time to make things easier for crypto with simpler licensing, so brokers can offer different coins under one license. He also wants clear lines between crypto commodities and securities, plus looser rules for new projects and the right to hold your own coins.
Atkins says old regulations don’t work for today’s online markets, and this could make the US a crypto leader.
In India, things got messy with a 44 million dollar hack at CoinDCX. Police in Bengaluru nabbed an employee, Rahul Agarwal, after hackers used his work laptop to swipe funds in July.
CoinDCX’s CEO, Sumit Gupta, called it a clever “social engineering” trick but said customer money is safe, covered by the company’s own funds. They’re keeping quiet while the investigation rolls on.
Ether’s Huge Crypto Leap
Ether’s on fire, jumping 56 percent in July from 2468 dollars to 3862 dollars, its best month since 2022, according to CoinGecko.
Bloomberg’s Eric Balchunas says it’s like a 1990s tech stock, fueled by cash pouring into Ether ETFs. Unlike Bitcoin’s “new gold” vibe, Ether’s growth is all about fast adoption.
The SEC’s new plan and Ether’s surge show crypto’s potential, but the CoinDCX hack is a reminder to stay sharp with security.
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