Since the epoch-making launch of Bitcoin in 2009, cryptocurrencies have proliferated at an accelerated rate. Over 20,000 cryptocurrencies have been launched since then. While many cryptocurrencies bit the dust, a small percentage are changing the world. Nevertheless, their existence threatens the global hegemony of the traditional banking system and its unholy nexus with the powers that be. Now, the world’s governments are taking direct measures to stifle the unstoppable growth and success of crypto projects. Naturally, this is forcing the crypto world to gravitate towards crypto projects like TMS Network (TMSN) that actively avoid local presence in jurisdictions notorious for persecuting DeFi projects.
U.S. Commodity Futures Trading Commission (CFTC) Sues Binance (BNB)
Everyone in the crypto industry saw this coming from a mile away. The U.S. regulators have been increasingly aggressive in their investigations on Binance (BNB) in recent months. While the nature of offenses they are investigating are varied, they all involve Binance’s (BNB) flouting of U.S. laws one way or the other. CFTC’s case against Binance (BNB), however, is quite specific. The regulator alleges that Binance (BNB) and its CEO, Changpeng Zhao, willfully evaded U.S. laws by operating a sham compliance program.
According to CFTC, Zhao orchestrated a large-scale program as part of which the CEX’s employees helped customers to circumvent its own compliance program. This allowed U.S. users to access Binance (BNB) and its services in violation of U.S. laws. Now, CFTC is seeking a complete ban on Binance’s (BNB) operations in the U.S., under the aegis of BAM, alongside monetary penalties. Reuters reported similar offenses by Binance (BNB) last year. So, it’s unlikely that Binance (BNB) will come out of this unscathed.
SEC’s Case Against Ripple (XRP) Could Reach its Conclusion in 2023
It’s been a tough two years for Ripple (XRP) since the U.S. SEC sued the creators of the Ripple (XRP) token for selling it without registering it as security. To build its case, the SEC has relied heavily on the “Howey test,” which considers an asset as security if it’s sold with the expectation of getting profits from other parties’ efforts. While other cryptocurrency founders chose to settle with the commission, Ripple (XRP) tackled the challenge head-on. For the past two years, Ripple (XRP) has been engaged in a battle that will determine the future of the entire crypto industry. Fortunately, it now appears that Ripple (XRP) could be headed for a groundbreaking win against the SEC.
For years, U.S. regulators have frowned upon everything remotely related to crypto. So, Ripple’s (XRP) win will carve out a lawful place – even if it’s a small one – for the cryptocurrencies to operate without persecution by the authorities. As the analysts expect the verdict in the case to tilt in favor of Ripple (XRP), the token’s price has shot up in value.
TMS Network (TMSN)
TMS Network (TMSN) is a new decentralized exchange with a strong utility. TMS Network (TMSN) is the first DEX to let users trade cryptos, CFDs, forex, and equities. TMS Network (TMSN) supports over 500 cryptocurrencies, besides equities and fiat assets from multiple equity exchanges worldwide. Interestingly, TMS Network (TMSN) also allows users to buy and sell fiat assets in cryptocurrencies without using fiat money.
TMS Network’s (TMSN) utility has found strong resonance among crypto users who are beelining to grab its token. Currently, TMS Network (TMSN) is offering its native token at a discount for early buyers in the stage 2 presale event. However, its price has shot up by nearly 100% between stage 1 and stage 2 presale events. TMS Network (TMSN) intends to raise $12 million over the next few presale events, and it’s well on its way to achieving its target.
To find out more please check the links below:
Presale: https://presale.tmsnetwork.io
Website: https://tmsnetwork.io
Telegram: https://t.me/TMSNetworkIO
Twitter: https://twitter.com/tmsnetwork_io
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