DailyCoin
Published Aug 04, 2021 10:10AM ET
Updated Aug 04, 2021 10:30AM ET
Crypto Flipsider News – August 4th – Ethereum’s London Hard Fork, SEC, Cardano, Tencent NFT Platfrom, Google
Ethereum’s London Hard Fork Is Approaching!
The long awaited ETH network update is set to be launched today between 13:00 UTC and 17:00 UTC, and should happen at block 12,965,000. The London upgrade is one of the biggest steps towards Ethereum 2.0, which intends to switch the network from proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism.
The London Hard Fork includes two major upgrades, namely limiting the amount of supply that creates pricing pressure, as well as lowering the ridiculously high gas fees!
Flipsider:
SEC Chairperson Gensler: Most Cryptos Violate The Securities Law, Regulation Could Increase Adoption
Chairperson of the SEC, Gary Gensler, has expressed that crypto space lacks investor protection. In his speech at the Aspen Security Forum he compared it to the Wild West. The regulator said that a number of tokens are offered and sold as unregistered securities that do not comply with the US securities law, and therefore operate without regulatory oversight.
“This leaves prices open to manipulation. This leaves investors vulnerable.” Gensler concluded.
He further urged the SEC to continue investor protection, viewing crypto trading, lending, and DeFi platforms as a priority for legislation.
Flipsider:
Cardano Updates: Japan, cFund, and Celsius Network
Flipsider:
China’s Tencent to Launch an NFT Art Platform
China’s tech giant Tencent has plans to release a platform that enables artists to issue and sell their NFT art, music, videos, photos and more. It has already launched 3,000 NFTs as self promotion.
The NFT market has seen incredible growth so far in 2021. The largest NFT marketplace, OpenSea, recently surpassed $1 billion in market volume.
Flipsider:
Google Permits Ads for Regulated Entities in the Crypto Market
Google’s new financial products and services policy came into effect this week. Regulated crypto market entities, namely crypto exchanges and wallets, are now allowed to advertise on the engine’s services. On the other hand, ICOs, DeFi trading promotions, and celebrity endorsements all remain banned.
Google initially banned crypto and ICO ads back in 2018. The step was taken in an effort to stop crypto scammers and shillers. Google ads generated $147 billion in revenue last year.
Flipsider:
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