Prometheum, the only cryptocurrency platform registered in the United States, just shocked the market with a decision that has serious implications for the future of Ethereum.
The company recently chose Ethereum as its first product, meaning Ether will be the first currency officially managed by a SEC Compliant Platform. This decision is particularly relevant since Ethereum has been the subject of much debate since Gary Gensler took over.
Aaron Kaplan, co-CEO of the company, recently said in an interview with CoinDesk that the company intends to offer tokens with the largest market capitalization and liquidity. Furthermore, he claimed that more tokens will enter the Prometheum platform after Ethereum.
The implications of this decision could affect how the Securities and Exchange Commission classifies ETH. According to Fortune, Prometheu’s custody service could end the long-running debate over whether Ether should be classified as a security or commodity by the commission.
While this would have adverse consequences for the crypto community, it would put Prometheum at the forefront when its trading platform launches next quarter.
What is the difference between ether as security and as a commodity?
Cryptocurrencies like Ethereum have sparked intense debates among governments and regulators regarding their classification. Should they be considered currencies, securities or commodities?
– Some argue that Ether is similar to a commodity. It is a digital asset with intrinsic value, similar to precious metals or agricultural products.
– Product classification involves less regulatory scrutiny and greater acceptance as a legitimate investment vehicle.
Security point of view:
– This categorization would subject it to stricter regulation and monitoring.
– The security status could impact how Ether is traded, investor appetite, and how cryptocurrency exchanges operate.
Regulators around the world are grappling with this decision. The outcome will shape the future of Ethereum and its business environment.
As a security measure, Ether would be subject to stricter regulation. This could impact its trading, stock exchange listing and investor participation. This classification would also require Ethereum projects to comply with investor protection laws.
Ultimately, whether Ether will become a commodity or a security remains uncertain, but its fate hangs in the balance as regulators seek to tame innovation.
Mollars recovers his hacked “.com” domain
Meanwhile, the recent saga surrounding Mollars’ official website, “Mollars.com“, the unexpected deletion highlighted some underlying issues with domain registry company NJAL.LA (Njalla).
This event has raised concerns within the community investing in $MOLLARS, a promising crypto project intended to serve as a store of value for the Ethereum Blockchain.
Njalla, founded by Piratebay creator Peter Sunde, bills itself as an anonymous domain hosting provider. However, criticism abounds regarding its facilitation of piracy and other illegal activities online. Many users have reported grievances on platforms like Trustpilot, citing instances of domains being removed without warning, further tarnishing Njalla’s reputation.
Mollars is a secure cryptocurrency
For Mollars, this incident could have damaged its reputation, despite its secure infrastructure. The project funds, which have exceeded half a million dollars in pre-sale, are protected by an inaccessible wallet and a smart contract with rigorous security measures. Additionally, a third-party “Cyberscope” audit awarded Mollars a commendable safety ratinghighlighting its reliability compared to other cryptocurrencies.
The reason for Njalla’s removal of Mollars.com remains unclear. Past examples suggest a pattern of similar actions against other customers, leading many to question the company’s practices. Speculation abounds about potential motivations, including the resale value of domains like “Mollars.com” on underground markets.
Despite the turmoil, the Mollars token presale remains a success, with over 100,000 tokens sold in the last 24 hours. Currently priced at $0.50 per token, the presale aims to distribute 40% of the 10 million tokens provided before the ICO deadline in May, projecting an introductory value of $0.62 per token.
Users can participate in the presale via Mollars.com. The recovered domain shows the project manager’s resilience in the face of challenges and is also a sign of strength as hundreds of users, complaining online about Njalla, appeared to have failed to recover their domains. The Mollars Founder’s reach of power is apparently above average.
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Sam Chess is an extremely focused person, looking for the smallest details that can make a big difference. He is a writer and proofreader interested in understanding the cryptocurrency market. Additionally, he can be found trying to solve the industry’s biggest mystery, Satoshi Nakamoto.