Regulatory easing in digital asset trading: SEC and CFTC remove restrictions on spot markets
In the ever-evolving world of cryptocurrency, two new contenders are making their mark: Bitcoin Hyper and Maxi Doge.
Bitcoin Hyper, a Layer 2 solution, aims to expand the field of Bitcoin without compromising its foundation. The project utilises the Solana Virtual Machine (SVM) to execute smart contracts while maintaining the security of the Bitcoin network. Its goal is to make programmable payments, decentralised applications (dApps), and fast, low-cost DeFi building blocks a reality.
Meanwhile, Maxi Doge, with its ultra-active community, staking mechanisms, competitions, and partner integrations, is generating buzz. The presale of Maxi Doge is rumoured to be staged, and early arrivals are promised generous APY staking. Contract audits are anticipated for both Bitcoin Hyper and Maxi Doge.
The Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have clarified that already registered exchanges can offer spot trading in crypto assets classified as commodities under certain conditions. This clarification opens the way for regulated crypto spot trading in the US, potentially marking a shift towards a better-regulated market by 2025.
The initial cryptocurrencies traded in US registered exchanges' pilot tests for a possible regulatory-approved spot trading of crypto-assets include Bitcoin, Ethereum, stablecoins like USD Coin (USDC) and Tether (USDT). Following successful tests, a broader implementation could expand trading to a wider range of tokens, but current focus remains on these major cryptocurrencies and stablecoins.
For platforms, the bar is raised with requirements for full transparency, solid Know Your Customer (KYC)/Anti-Money Laundering (AML) procedures, enhanced security, and increased control. The return of "onshore" options for investors includes market surveillance, a more secure custody, and risk rules they already know.
Bitcoin Hyper, designed for developers, has a $HYPER token for fees, governance, and the ecosystem. Analysts expect a limited pilot on a few carefully selected assets, possibly including top memecoins, before wider deployment.
The presale of Bitcoin Hyper has already attracted attention, and the project's tokenomics are oriented towards marketing, development, and liquidity. Maxi Doge's tokenomics follow a similar pattern, with the token serving for fees, governance, and the ecosystem.
In the world of cryptocurrency, the stage is set for these two newcomers. As they navigate the regulatory landscape and prove their worth, only time will tell if they will become the next big players in the game.
