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Syndicate Lab Success: a16z Rollup Launch Revealed

By | Edited By Sahana Kiran,,

Syndicate Labs, an a16z-supported on-chain development firm, will be closing its doors after five years of working on essential Web3 infrastructure. Their exit is significant as this company has been instrumental in the development of Rollup tooling and the wider developer ecosystems of Ethereum and other blockchains.

Drastic Change in the Rollup Market

This team indicated that the major transformation in the Rollup market fundamentally changed their mind about continuing. At one time, the Rollup market was the fastest-growing part of Ethereum scaling, but now it has matured and consolidated. As competition has grown, the need for standalone roll-up as a service platforms has weakened.

Syndicate Labs
Source: ICO Drops

Syndicate Labs revealed that the overall market size has shrunk, which in turn negatively affects the long-term prospects of its current product strategy. For developers and protocols, this news highlights that infrastructure needs can change very fast in the era of modular blockchains.

Also Read: Crypto Regulation South Carolina Bans CBDC and Expands Bitcoin Rights Law

Clarification about the Cross-Chain Bridge Hack

The Syndicate Lab announcement is aimed at dispelling rumours that operational difficulties are linked to security incidents. Syndicate Lab clarified that the winddown has nothing to do with the recent hack of the cross-chain bridge that affected parts of the industry.

Keeping trust and transparency at a high level is very important for on-chain startups as they face public scrutiny. The team assured that user funds and the work done so far are not impacted, which is a typical scenario when a blockchain infrastructure provider shuts down.

Also Read: Crypto Hacks Surge as AI Cyber Threats Rise in 2026

Investment Highlights and Industry Overview

When it started, Syndicate Lab raised more than $27 million from investors like Andreessen Horowitz. The money was invested in continuous research, building developer tools, and executing community programs for decentralized applications.

The funding path showed the growing interest of venture capital in Web3 infrastructure, although investors have increasingly focused on capital efficiency and finding the right market fit in 2026.

Syndicate Lab’s shutdown is a reminder of the potential as well as the difficulties that crypto startups encounter as they modify their technical roadmaps and deal with a tougher funding environment.

Also Read: MAS Tightens Singapore Crypto Rules Following BSQ Licensing Revocation

SpaceX Bitcoin Holdings Surge to $1.29 Billion After S-1 Filing Reveal

By | Edited By Sahana Kiran,,

SpaceX has disclosed significant Bitcoin holdings in its latest S-1 filing, revealing one of the largest corporate treasury positions among private firms. The aerospace company reported 18,712 BTC on its balance sheet, highlighting sustained exposure to digital assets and reinforcing the growing institutional participation in cryptocurrency markets globally in recent years.

According to the most recent S-1 filing, SpaceX acquired its Bitcoin holdings at a cost basis of around $661 million as of March 31, 2026. SpaceX Bitcoin Holdings has an average price of approximately $35,300 per coin, reflecting early accumulation phases during previous market cycles and a strategic long-term treasury approach.

SpaceX S-1 Filing
Source: sec.gov

Also Read | Strategy Buys 3,273 BTC as Bitcoin Holdings Surge Past 818K

SpaceX Bitcoin Holdings Drive Record Unrealized Gains

The filing showed that the market value of SpaceX’s Bitcoin reserves rose to approximately $1.293 billion by quarter’s end. It indicates unrealized gains of more than $630 million generated by the company’s Bitcoin Holdings, fueled by recent Bitcoin price increases. Overall, SpaceX generated much larger unrealized gains than in the previous period for Bitcoin.

SpaceX’s S-1 filing also valued the company’s Bitcoin position at around $1.45 billion. The company confirmed that 18,712 BTC holdings were unchanged compared to the number of coins it owned by the end of 2024. Furthermore, SpaceX’s assets were held in trust and secured via third-party custodians.

Custody Structure and Historical Positioning

SpaceX first added Bitcoin to its balance sheet in 2021 during the pandemic-era crypto boom, initially acquiring 25,724 BTC. SpaceX could be seen as an early stage of the institution’s adoption of digital assets and high-growth alternative reserves globally.

Fluctuations have occurred in SpaceX’s performance with regard to its Bitcoin Holdings in several previous reporting cycles, resulting in a $112 million unrealized loss this year, whereas the firm posted a $955 million paper gain in 2024. Furthermore, on-chain analytics showed SpaceX trimmed its prior holdings partially.

Elon Musk has previously described Bitcoin as a positive innovation, while also reversing Tesla’s acceptance of BTC payments in 2021 due to environmental concerns. Musk previously referred to Bitcoin as positive innovation, although he also reversed Tesla’s acceptance of BTC payments in 2021 for environmental reasons. SpaceX’s latest S-1 filing does not include his broader cryptocurrency commentary.

Also Read | Tether Strengthens Global USDT Payment Adoption With 200K Merchant Integration

Crypto Crime Alert as Sinaloa Cartel Laundering Network Faces OFAC Sanctions

By | Edited By Messam Raza,,

The latest enforcement action by the U.S. Office of Foreign Assets Control (OFAC) targeted a Sinaloa Cartel-linked financial cell operating in cross-border drug finance. The case highlights how Crypto Crime is shifting into structured digital pipelines where physical cash from fentanyl sales is converted into stablecoins.

According to Chainalysis, the couriers had picked up the cash from the United States and shipped it using third parties associated with Armando de Jesus Ojeda Aviles.

Crypto Crime utilized crypto wallets for transactions to bypass banks and carry out transactions quickly without getting noticed. This was consistent with previous cases involving the cartel.

OFAC Pressure On Crypto Crime Financial Operators

The sanctions imposed by the Office of Foreign Asset Control have been imposed to disrupt the workflow involved in this Crypto Crime.

In the center of it all stands Armando de Jesus Ojeda Aviles, who took up the task of laundering money for the Los Chapitos wing of the Sinaloa Cartel after the former person responsible was removed in 2023.

Source: Chainalysis

His network has controlled couriers who collected the proceeds of the drug trade in the US and moved them into cleaner jurisdictions.

The Crypto Crime project made sure that the use of physical money did not overlap with the transactions being done digitally, which would make it difficult for the money trail to be traced internationally.

The reason for this was that since everyone involved in the network had access to just a fraction of the entire transaction, it became increasingly difficult to impose the law.

Also Read: Morgan Stanley Updates Solana ETF Filing With Staking Plan

Crypto Crime Flow Traced Through On-Chain Movements

According to Chainalysis Reactor, here is a description of how the proceeds made from the drug trade were laundered in the cryptocurrency world, step by step.

Money from the sale of fentanyl was first delivered to the brokers associated with Ojeda Aviles by couriers. Next, the money was converted into stablecoins, a popular means used for crypto crimes due to their stability and quick transaction processes.

Next, the money would be sent to centralized exchanges, where efforts were made to make the money real. This crypto crime scheme is complex, consisting of multiple layers, but it can still be spotted using blockchain analysis techniques.

The scheme relied heavily on splitting of funds, but repeated wallets could be identified during the process, illustrating the structure of the network.

Monitoring and disruption of Crypto Crime pipelines

The final stage in enforcement focuses on the working relationship between crypto crime and global cryptocurrency liquidity. The utilization of stablecoins is now crucial to the workings of cartel finance due to their ability to transfer funds easily across borders.

In this instance, Chainalysis marked wallet addresses associated with the Crypto Crime network. This assists the compliance officers in knowing their exposure at any one time.

According to the agency, monitoring of these transactions is critical because the Crypto Crime groups tend to reorganize themselves after being sanctioned.

Also Read: Crypto Hacks Surge as AI Cyber Threats Rise in 2026

Bitcoin Cycle Analysis Shows Three Major Market Tops Over the Last Decade

By | Edited By Messam Raza,,

Crypto analytics platform Alphractal shared a detailed thread explaining how the Bitcoin Cycle has evolved over the past decade. The report highlighted that Bitcoin formed three major macro tops during this period, but each followed a different structural pattern.

It can be seen that the market experienced a rapid parabolic increase to a peak, followed by a steep decline in 2017.

The same trend was visible during 2020 and 2021, where there was a rapid rise in Bitcoin and a subsequent steep fall. However, during 2023 and 2024, the Bitcoin Cycle is quite unlike what has been witnessed before.

Bitcoin price analysis

Source: X

According to Alphractal, the market cycles follow four stages, namely, accumulation, markup, distribution, and markdown. It is also important to note that the Bitcoin market follows four-year cycles because of halving, which impacts mining returns.

Also Read: Ethereum Price Prediction: Will ETH Break $2,200 or Drop to $1,800?

Bitcoin Cycle Indicators Reveal Market Position

Among such indicators, the Accumulation/Distribution Cycle Index, or ADCI is one that has been talked about. It is a proprietary index that gauges the stage in the Bitcoin Cycle based on blockchain transactions. Above 70 implies a distribution condition, while values under 30 indicate accumulation. 

Bitcoin Cycle Indicators Reveal Market Position

Source: X

According to Alphractal, sustainable bull trends tend to drift horizontally for a relatively extended period of time before topping out, whereas unsustainable rallies tend to crumble after sharp upward price moves.

According to the firm’s Repetition Fractal Cycle theory, Bitcoin usually exhibits behavior in a cycle of about four years, which includes a period of a year of accumulation followed by a period of higher gains.

Bitcoin Cycle Indicators Reveal Market Position

Source: X

Historical data indicate that Bitcoin usually achieves record highs after about three years following a significant low point.

Cost Basis Metrics Track Bitcoin Market Transitions

In order to identify trend strength and reversals in the Bitcoin Cycle, Alphractal evaluated a number of cost-related metrics. TMMP (True Market Mean Price) reflects the average cost of buying an active Bitcoin, not including the dormant stock owned by miners.

A Bitcoin price that stays above TMMP indicates a bull run, whereas when the price falls below TMMP, it means bearish conditions prevail.

Cost Basis Metrics Track Bitcoin Market Transitions

Source: X

A Bitcoin price rising above Short-Term Holder Realized Price indicates a high level of demand for the cryptocurrency, whereas when it falls, it implies weak momentum and increased selling pressure. STH-LTH provides insights into the different Bitcoin cycle phases.

Cost Basis Metrics Track Bitcoin Market Transitions

Source: X

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read: Solana Overtakes Ethereum With $1.23B in RWA Lending

SUI Price Stabilizes at $1.04 Support: Will Bulls Push It Toward $1.20?

By | Edited By Messam Raza,,

SUI price is stabilizing near key support after a sharp decline, showing easing selling pressure and early consolidation. A recovery toward higher resistance levels is possible if demand strengthens, but momentum remains weak. Technical signals and reduced trading activity suggest a cautious, range-bound market for now.

At the time of writing, SUI is trading at $1.07 with a 24-hour trading volume of $460.44 million and a market capitalization of $4.3 billion. Despite the signs of stability over the last 24 hours, everyone’s focus is on whether the token maintains a bullish breakout or leads to deeper retracements if support fails.

SUI Price chart

Source: CoinMarketCap

SUI Price Stabilizes at $1.04 Support: Is $1.20 Next?

Furthermore, the crypto analyst BitGuru pointed out that the SUI price is showing early signs of stabilization after a sharp corrective move, as price action continues to hold above the key $1.04 support zone. 

Selling pressure is easing, while buyers are gradually stepping in to absorb supply, indicating potential short-term exhaustion of downside momentum and a possible shift toward consolidation.

SUI Price Stabilizes at $1.04 Support: Is $1.20 Next?

Source: BitGuru’s X Post

If this continues to hold, the SUI price can take its shot at coming back to the $1.15-$1.20 levels from which the resistance emerged in the first place. 

However, for the SUI price to continue on this path, it would require a consistent demand, strong volumes, and more confirmation via higher lows. Otherwise, it might continue trading in ranges.

Also Read: SUI Price Nears Critical Support, Eyes Possible Rally Toward $1.42

Technical Indicators Point to a Consolidation Phase

According to TradingView, the SUI price experienced explosive momentum in an aggressive advance, with a top price of $1.4000 before settling back down to $1.0200. 

Recently, the SUI price has been exhibiting a very controlled consolidation phase. In addition, the Bollinger Bands have collapsed near the 20-period moving average, indicating extreme volatility compression, and thus, a breakout is imminent.

Technical Indicators Point to a Consolidation Phase

Source: TradingView

MACD shows a sudden shift in the momentum of the market. With the previous parabolic move resulting in strong green bars, they quickly became deep red as the market crashed. 

At present, the lines have leveled off at the zero level, even as there is a new bullish crossover but without any surge in volume buying.

SUI Derivative Data Reveals a Cautious Outlook

However, the open interest of SUI stays consistent at $702.12 million. This indicates the traders’ consistent position in derivatives and that there has been no significant increase or withdrawal. There have been some fluctuations in trading behavior, but sentiment remains uncertain.

SUI Derivative Data Reveals a Cautious Outlook

Source: Coinglass

The trading volume has fallen to 37.85% and stands at $714.57 million. The fall is indicative of fewer players and lower momentum in the short term, indicating declining interest on the part of the traders.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read: SUI Price Eyes $1.50 as Ramp Integration Boosts Bullish Momentum

Ethereum Price Breakdown Sparks Fears of Major Drop Toward $1,350

By | Edited By Messam Raza,,

Ethereum (ETH) price experienced further weakness, due to technical evidence indicating increasing selling pressure in the markets. The recent drop in Ethereum price has caused alarm amongst analysts, seeing as ETH is unable to bounce back from its key support levels being broken. It seems that there has been a reduction in buying activity, and bearish strength is still present.

At the time of writing, ETH is trading at $2,118.79 with a 24-hour trading volume of $27.60 billion and a market capitalization of $256.31 billion. ETH price recorded a modest 0.41% gain over the last 24 hours, but the overall trend still remained weak as the asset failed to maintain stronger upward movement.

Ethereum price chart

Source: CoinMarketCap

Also Read | Trump-linked Truth Social Pulls Spot Bitcoin ETF Filing From SEC Review

Ethereum Momentum Turns Sharply Bearish

Ethereum has now officially experienced a bearish breakdown shared by on-chain analytics firm CryptoQuant on May 20, 2026, when ETH traded below a crucial triangle formation that had been providing support for the asset’s price in recent weeks.

This bearish breakdown in the chart was considered to be a bad signal since it indicated that the buying pressure was weakening while that of the sellers strengthened. The firm further added that failure of the asset’s price to break above the broken resistance level could lead to more sell-offs in the next few days.

Ethereum Momentum Turns Sharply Bearish

Source: CryptoQuant’s X Post

The firm states that the price of Ether can overshoot towards its $1,350 support level. This is an important point for investors because the loss of additional support will increase the risk for this cryptocurrency. The unfavorable technical pattern aligns with reduced momentum in the crypto market space.

Ethereum Price Faces Rising Selling Pressure

Ethereum price is not managing to trade higher than short-term moving averages, suggesting buyers are losing their grip. ETH price is currently trading in the $2,122 range.

The RSI is trading at 35.45 and is approaching oversold levels below 30 due to heavy selling. The RSI signal line is currently at 44.86, showing that bullish pressure has weakened sharply in recent times.

Ethereum Price Faces Rising Selling Pressure

Source: TradingView

Ethereum prices have also been showing potential for further losses from the point of view of the MACD technical indicator. The MACD itself is currently trading at -41.03 levels, while the signal line is trading at -25.18 levels. The histogram is also negative at -15.84 levels.

The growing divergence in the MACD and signal line is being observed by analysts because this indicates the building bearish momentum. The inability of the Ethereum price to move past resistance areas in the upcoming trading session can result in new declines in the cryptocurrency’s value.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read | Massive GitHub Breach 2026: Web3 Security Alert

Injective (INJ) Price Prediction: Institutional Adoption Signals Breakout to $100

By | Edited By Messam Raza,,

Injective is gaining institutional interest through USDC integration, regulated futures, and ETF filings, strengthening its role in DeFi infrastructure. Deflationary token burns and governance upgrades reduce supply, while technical indicators show consolidation with emerging bullish momentum despite mixed long-term price expectations.

At the time of writing, INJ is trading at $5.04 with a 24-hour trading volume of $96.96 million and a market capitalization of $506.74 million. Despite the signs of stability over the last 24 hours, Injective’s growing institutional recognition points to a potential breakout ahead.

INJ Price chart

Source: CoinMarketCap

Also Read: Injective Price Prediction: INJ Bullish Breakout Targets $5.50 Resistance

Injective Institutional Growth Could Lead the Price to $100

However, the crypto analyst Crypto Patel revealed that Injective (INJ) is gaining momentum as a potential institutional DeFi backbone, driven by native USDC integration via Circle, regulated INJ futures on Bitnomial, and ETF filings from 21Shares and Canary Capital. 

Analysts see growing alignment between liquidity infrastructure and traditional finance, with improving market access potentially reshaping long-term valuation expectations.

From a technical and logistics standpoint, Injective is working on reducing its deflationary approach via governance updates like IIP-617, which is helping them increase their burning process and reduce their supply. 

Since nearly 6.87 million INJ tokens have been taken off the market, narratives around scarcity can start forming. The backing of validators like Google Cloud and Binance helps build credibility.

Injective Institutional Growth Could Lead the Price to $100

Source: Crypto Patel’s X Post

Expectations of future prices have also ranged widely, including both rosy expectations and uncertainty. Trimmed expectations for 2026 generally range from $4 to $6, while mid-range expectations range from $10 to $15. 

In case of rapid adoption, the rosier expectations will range from $20 to $30, while in the strongest bull markets, the extreme range is seen between $50 and $100+.

INJ Technical Indicators Point to a Bullish Rally

According to TradingView, INJ started off with an impressive upward rally from $3.70, peaking just shy of $6.00 in the days leading up to May 13th, followed by a swift reversal lower. 

Currently, it has stabilized back near $4.45 and is trading around $5.05, between the Bollinger Band middle-level support of $4.85 and the top resistance level of $5.25.

INJ Technical Indicators Point to a Bullish Rally

Source: TradingView

The technical indicators mirror this volatility in the market, with Bollinger Bands expanding and contracting in accordance with the movement in the market. 

Meanwhile, the MACD indicates a bullish crossover above the signal line recently, which is further backed up by the green bars of the histogram. This setup suggests that there is some mild buying interest emerging in the market despite the consolidation.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read: INJ Price Breakout Targets $51 as MACD Signals Strong Bullish Reversal

Worldcoin Price Analysis: WLD Eyes $0.85 Recovery After Consolidation

By | Edited By Messam Raza,,

Worldcoin (WLD) is showing early signs of a bullish reversal after consolidating above key support levels. Technical indicators suggest weakening selling pressure and improving buyer momentum for the Worldcoin price, though lower trading volume reflects cautious market sentiment as traders await confirmation of a breakout.

At the time of writing, WLD is trading at $0.2419 with a 24-hour trading volume of $104.19 million and a market capitalization of $825.19 million. Despite the signs of stability over the last 24 hours, analysts are expecting a bullish breakout if the token keeps moving above the key support.

Worldcoin price chart

Source: CoinMarketCap

Worldcoin Price Outlook Turns Bullish After Consolidation

Furthermore, the crypto analyst Jonathan Carter revealed that Worldcoin (WLD) is showing signs of stability as the token continues trading above a major support zone within a descending channel on the daily chart.

Analysts believe this structure could signal a potential trend reversal for the Worldcoin price as bearish momentum weakens. Traders are closely watching Worldcoin price action for confirmation of a breakout that may shift market sentiment to bullish.

Worldcoin Price Outlook Turns Bullish After Consolidation

Source: Jonathan Carter’s X Post

As long as the buyers succeed in breaking through the resistance level, the Worldcoin price could experience a solid rebound in the short term. 

The major levels to watch include $0.33, $0.44, $0.66, and $0.85. With time, the consolidation period will grow bigger and stronger, giving way to a significant breakout for the Worldcoin price.

Also Read: Worldcoin Price Prediction: WLD Eyes $0.85 After Falling Wedge Breakout

Technical Indicators Point to Bullish Attempt

According to TradingView, RSI stands at 50.60, which indicates a mild bullish correction since the purple line has moved above the yellow signal line of 43.31. 

It has risen from almost oversold territory and crossed the crucial neutral point. It indicates that buying power is gradually returning, but there is no hint of overbought momentum for the Worldcoin price.

Technical Indicators Point to Bullish Attempt

Source: TradingView

MACD supports this transition as the blue line shows signs of turning upwards in favor of an upward crossover with the orange signal line, which currently stands at -0.00310. 

While both lines continue to remain below the zero line, the histogram has turned positive with green bars appearing at 0.00094.

Worldcoin Derivative Data Points to Mixed Outlook

However, the open interest on WLD has increased by 3.58% to reach a total market value of $170.74 million. The increase indicates active participation of investors in creating and maintaining their position, as there seems to be uncertainty prevailing in the overall trading environment.

Worldcoin Derivative Data Points to Mixed Outlook

Source: Coinglass

Trading volume tumbled considerably to $187.94 million, falling 50.56%. This fall is an indication of reduced trading activity or trader participation, showing that care should be exercised since there could either be caution, reduced momentum, or a trading halt.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read: WLD Price Prediction: Falling Wedge Hints at Potential Recovery to $0.40

Chainlink Price Rebounds Near $9.61 as Buy Signal Sparks $10 Recovery Hopes

By | Edited By Messam Raza,,

Chainlink (LINK) price has shown indications of starting to stabilize after its recent weakness in the market, as the price action has tried to bounce back. Technical indicators suggest that buying is now taking place, implying that selling is likely to ease up temporarily. Nevertheless, decreased trading volumes and low open interest hint at cautious investor behavior.

At the time of writing, LINK is trading at $9.61 at the time of writing. Over the last 24 hours, the token recorded a 1.31% gain, supported by a trading volume of $410.32 million and a market capitalization of $7.01 billion. Despite the small recovery, overall market participation signals remain mixed, with reduced activity across derivatives markets.

LINK Price chart

Source: CoinMarketCap

Also Read | XRP Ledger Advances Quantum Security with Ripple & Project Eleven Partnership

LINK Price TD Sequential Reversal

However, an examination of the latest market data reveals that Chainlink price movement is influenced not only by technical indicators but also by reduced participation in trading. Indeed, crypto analyst Ali Martinez identified a TD Sequential buy signal forming on LINK’s chart on May 20, 2026.

LINK Price TD Sequential Reversal

Source: Ali Martinez’s X Post

This kind of signal may serve as an exhaustion pattern in the bearish sentiment, implying that downtrend momentum may have reached its peak. In the case where the same signal persists, Chainlink price may try to bounce back up towards the $10 resistance level.

Chainlink Price Weak Market Activity

However, broader market sentiment readings indicate that investors are more cautious. The trading volume went down by 46.31% to reach $388.74 million, while open interest fell by 7.44% to reach $471.75 million.

Chainlink Price Weak Market Activity

Source: Coinglass

Such dynamics indicate that there are fewer derivative contracts held by investors, which reflects a lack of leverage participation in and directional confidence about the future Chainlink price.

In spite of this reduced pace, funding continues to show steady conditions. Open interest-weighted funding was at 0.0063%, which shows that there was limited funding pressure, and there were balanced positions from both sides, long and short.

Chainlink Price Weak Market Activity

Source: Coinglass

This means that even though there has been a decrease in activity levels, there is no significant tilt on either side to drive the Chainlink price to extremes.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read | USDT Gains $5B While Strong Rivals Lose $4.2B

Crypto Regulation South Carolina Bans CBDC and Expands Bitcoin Rights Law

By | Edited By admin,,

South Carolina is taking steps towards crypto regulation by signing a bill into effect, by Governor Henry McMaster. This law will ban any use by the State of CBDC (Central Bank Digital Currency), while ensuring that Bitcoin users, developers, and miners have certain protections and custody rights.

Senate Bill 163, which was passed with bipartisan support on May 19, will provide clearer regulatory guidance in terms of the use of digital assets and will also enhance user ownership of crypto assets.

Senate Bill 163

Source: Crypto Town Hall’s X Post

Also Read | Zcash Price Eyes 8% Surge After Strong 74% Rally

Crypto Regulation South Carolina Protects Crypto Rights

One of the essential parts of this crypto regulation legislation is the tough stance on CBDCs. The state departments of South Carolina are now prohibited from conducting tests or taking part in digital currency projects implemented by the Fed or the federal government.

Meanwhile, the legislation clearly describes CBDCs as digital money issued by governments. As such, privately-issued stablecoins continue to be valid under the regulatory guidelines. This is because this approach to crypto regulation seeks to clearly draw a line between digital currencies controlled by governments and privately held digital assets on blockchains.

The act also ensures that individuals and companies shall not be restricted from accepting digital assets in any legal transactions. Self-custody rights are guaranteed under this piece of legislation, which means that the user will have total control over their digital wallet without being subjected to unwarranted meddling. This is a form of crypto regulation.

South Carolina Supports Staking Rules

Mining and staking are two areas where the new law provides much-needed clarification for business owners within the industry. For example, local municipalities are prohibited from implementing discriminatory zoning regulations against mining operations, unreasonable noise regulations, and other such restrictive practices.

Additionally, mining, staking, running nodes, and even blockchain development are not considered money transmission activities. The law also provides avenues for the government to counter fraud through the attorney general’s authority to handle any cases that relate to fraud, including those relating to fictitious cryptocurrency investments such as mining or staking.

South Carolina becomes one of the many states in the U.S. where a similar bill concerning Bitcoin has been passed by the government. There is an increasing trend for countries to develop crypto regulation.

Also Read | MAS Tightens Singapore Crypto Rules Following BSQ Licensing Revocation