It appears the SEC wishes to regulate crypto exchanges that provide custody services, in particular, clients with high net worth, such as hedge funds managers. This may have a large impact on crypto custody programs or fiat custodians like banks that choose to hold clients’ crypto assets. The amendments do not target crypto companies specifically, but SEC Chair Gary Gensler mentioned in a statement that “not all crypto platforms that claim to custody client assets are qualified custodians.”

Polkadot is a platform that allows multiple blockchains to operate together as a single network. It accomplishes this through the unique interoperability design, which allows for seamless transfer of data and assets between different blockchains. Polkadot has a flexible and customizable architecture. It’s built on a modular framework that allows developers to create blockchains that are optimized for specific use cases. This makes Polkadot viable for a wide range of applications, from DeFi to crypto gaming to supply chain management. You may also have heard of RockX, a blockchain API service provider that was built on Polkadot.

Avalanche is a decentralized platform built to enable developers to create and deploy dApps (decentralized applications). Similar to many leading blockchains, including Binance Smart Chain, Avalanche was designed to address the scalability issues and high costs of Ethereum. Avalanche was created by Ava Labs, a company founded by computer scientist Emin Gün Sirer. Its whitepaper was published in 2018 and the Mainnet officially launched in 2020. The aim was to provide high throughput while maintaining low latency and interoperability for all decentralized applications.

Regulations come in a variety of measures but are put in place to protect users and ensure safe and secure operations by custodians. When a crypto custodian is regulated, it is subject to specific rules and comply with the law of the region and all regions by whom the regulations are imposed. Some of them may include compliance on conflict of interest and AML (anti-money laundering). It’s helpful to obtain a fair understanding of these regulations before signing up to a company.

Binance Smart Chain has EVM compatibility, so developers can use the same programming languages to build decentralized applications on Ethereum, such as Solidity, and tools like Remix and Truffle. This makes dApps migration fast and easy. As a result, Binance Smart Chain has a thriving ecosystem of dApps. Some of the most popular decentralized applications you may have heard of, such as Pancakeswap, were built on BSC. There’s also a host of wallets, explorers and tools that help users better interact with Binance Smart Chain.

A petition was filed by the IRS seeking court approval for a summons last week, right after Kraken announced its settlement with the SEC (Securities and Commissions) related to its offering of unregistered securities. According to the petition, the IRS is trying to determine the federal income tax liability of Kraken users who had made crypto transactions from 2016 to 2020.