Latest NFT Updates: Stand With Crypto
The crypto community has responded to the recent lawsuits filed by the U.S. Securities and Exchange Commission (SEC) against Binance and Coinbase by adopting a new NFT called “Stand With Crypto”. This free-to-mint NFT showcases a blue shield representing crypto community unity against regulatory hurdles. It has gained popularity among crypto enthusiasts as a way to show support for the crypto industry and its values. By using this NFT, it symbolizes solidarity to protecting the freedom of cryptocurrency in the face of regulatory pressure.
SEC Lawsuit Against Coinbase
The SEC’s lawsuits against Binance and Coinbase have raised concerns about the future of crypto regulation in the United States. However, this is not the first time SEC is cracking down on Coinbase and Binance in the US. The SEC investigated Coinbase for potential violations of securities laws in 2018. The investigation focused on Coinbase’s cryptocurrency listing investigated for potential unregistered securities by the SEC.
SEC Lawsuit Against Binance
This is however not the first lawsuit against Binance in the US. In 2021 SEC began investigating Binance for potential violations of securities laws. Although the investigation focused on whether Binance allowed US residents to trade on its platform. As it would be a violation of US securities laws. By June 2021, Binance decided to discontinue its trading services for US customers which sparked numerous concerns. Again, in October 2021 SEC filed a lawsuit against Binance for running an unregistered securities exchange and selling unregistered securities. This ongoing lawsuit led to Binance halting its US operations.
Also read: Understanding Cryptocurrency and Digital Assets
Crypto Community Adopts ‘Stand With Crypto’ NFT After SEC Sues Binance and Coinbase.
The crypto community has demonstrated its unity in supporting the industry and advocating for sensible regulation. This NFT was created by the crypto exchange Kraken and was first minted by its CEO, Jesse Powell. Powell tweeted “show my support for the crypto community and its fight for sensible regulation”. The community has positively responded to the NFT. Many individuals have created NFTs and appended a shield emoji to their Twitter names in support.
Recently, the use cases for NFT in the crypto space are expanding rapidly. The blockchain stores non-fungible tokens (NFTs) as a type of digital asset. A unique hash assigns digital assets, and the decentralized ledger stores them securely.
The blockchain offers transparency and decentralization. It allows anyone to own long lasting assets under their control and not under a bank, or any financial institution. With the various usability of NFTs today, they provide the opportunity for investors to own valuable assets like gold. JPgold NFT has come to “stand the crypto community” with its numerous benefits.
Though the JP Gold Coin is a cryptocurrency, however its hybrid nature secures coin holders money as gold nft. Its dual value to investors in a unique way makes it one of the most reliable crypto asset. The Digital gold coin avails an opportunity to investors that see beyond now. Gold’s existence and value have outlasted many currencies. Gold is one of he world’s oldest currency. It has survived where many countries’ fiat currencies failed, its value has remained relatively stable.
How JPGold NFT is unaffected by SEC lawsuit?
Gold sellers are selling gold for $64 per gram in today’s market. The JPGold Coin is an hybrid cryptocurrency that issues physical god as NFT without compromising its crypto trading benefits. The JPGold NFT takes out hassle of purchasing and storing gold. It gives buyers the ability to either invest or trade their gold immediately. Japaul PLC is gold mining company offering to sell 10,000,000 grams of gold at $51 per gram. The JPGold NFT will be traded Opensea and JPGold Coin marketplace thereby making gold trading and investment easy for everyone starting with as little as 1g. Smart investors are those who capitalize opportunities given and make the most of it for the future. The future is now! The future is NFT! I stand with crypto! As a visionary enterprise seeking to revolutionize the perception of money, we invite you to join our community on telegram.
Also read: Tokenomics: JPGold Coin a digital token backed With Gold.