Ethereum and Istanbul, statement from SEC, Canaan Creative

A brief digest of the brightest and most interesting news👇

📍SEC CEO Jay Clayton has confirmed that Ethereum does not apply to securities

The chairman of the US Securities and Exchange Commission (SEC), Jay Clayton, confirmed that Ethereum (ETH) and similar cryptocurrencies are not securities under US law.

The Commission notes that a cryptocurrency can be sold as a security after issuance, meeting the definition of an investment contract. However, after a while, the digital asset may be sold or offered to other users no longer as an investment object.

📍Ethereum developers proposed to limit ASIC miners in Istanbul hardfork

As a result of negotiations, project managers in the Ethereum blockchain suggested activating the EIP1057 code as part of the next major update within the Istanbul.

EIP1057 or ProgPoW is a modified mining algorithm aimed at reducing the impact of ASICs, which has become the subject of fierce disputes within the community.

At the same time, part of the community believes that the fight against ASIC devices does not make sense at all, since Ethereum is already moving in the direction of Proof-Of-Stake (PoS).

📍Mining giant Canaan Creative raised hundreds of millions of dollars in investment

Chinese company Canaan Creative Co. Ltd, producing ASIC-miners, successfully completed a round of funding for hundreds of millions of dollars.

Now its capitalization exceeds $ 1 billion. The resumption of business activity can talk about restoring investor confidence in the long-term market prospects.

The full format of news you can read on our website👉