.coinbase's Base layer 2 network is now live, and the SECGov appeals part of federal judge's ruling in the Ripple case. LedesmaLyllah and godbole17 report in First Mover Americas.
Coinbase , the large publicly traded U.S. crypto exchange, said its new Base blockchain, a"layer 2 network," has goneheralding the start of a new era of public companies running their own distributed networks. Base was already live for testing by developers, and it became open to the public at noon ET on Wednesday.
The U.S. Securities and Exchange Commission will file an"interlocutory appeal" of a judge's ruling on Ripple's programmatic sales of XRP, the regulator said in. The SEC said it was seeking to"leave to" appeal part of a recent decision while other parts of the SEC's case proceed to trial. The regulator said approval of an appeal could prevent the SEC and government from needing two trials.
on exchanges for anyone to purchase — weren't securities transactions, whereas Ripple's direct sales to institutional clients were.she’s “deeply concerned that payments giant PayPal is launching its own stablecoin without federal rules for stablecoins in place. Waters, the top Democrat on the House Financial Service Committee, noted that PayPal has 435 million customers around the world, more than the number of online accounts of all the largest banks combined. “Given PayPal’s size and reach, federal oversight and enforcement of its stablecoin operations is essential in order to guarantee consumer protections and alleviate financial stability concerns,” Waters wrote.
Ahead of Thursday's release of the Consumer Price Index, futures activity tells us that the Federal Reserve is done raising rates and is likely to begin the easing cycle early next year.- Omkar Godbole
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