SEC Launches New Efforts on Crypto Regulation
The U.S. Securities and Exchange Commission (SEC) has held its first crypto-focused roundtable meeting with the crypto industry in an effort to create more robust regulations. SEC Commissioner Hester Peirce stated that the agency aims to create a “workable framework” for crypto assets. During the panel, lawyers from different sectors shared their views on how crypto projects can comply with securities laws.
During the meeting, SEC officials explained that some areas, such as memecoins and mining, are not subject to securities laws, while emphasizing that other crypto assets may fall under this scope. Ahead of the event, Senator Elizabeth Warren and Representative Jake Auchincloss published an open letter questioning the SEC’s stance on memecoins.
IMF Includes Crypto Assets in Global Economic Standards
The International Monetary Fund (IMF) has officially included crypto assets in global economic statistics with its 7th Balance of Payments Manual (BPM7). While Bitcoin and similar crypto assets are now classified as non-financial assets that have not been produced, some tokens are considered stock-like assets. According to the new standards, cross-border Bitcoin transactions will be recorded in the capital account, while protocol-based tokens such as Ethereum and Solana will be treated like stock investments.
In addition, staking rewards will be reported as dividend income, and activities such as mining or staking will be considered within the scope of service production. This updated framework by the IMF will provide more transparent tracking of crypto assets in the global macroeconomic system. It is stated that the new standards were created with the participation of more than 160 countries and will guide long-term global statistics.
Saylor Signals New BTC Purchase
Michael Saylor hinted that his company could purchase Bitcoin after the new capital increase. The company, which last purchased 130 BTC on March 17, reached a total asset of 499,226 BTC.
Saylor argued that the US government should buy 25% of Bitcoin, describing BTC as the most important digital asset of the 21st century. The strategy company’s BTC investment is currently at 28% profit and carries $9.3 billion in unrealized gains.
Fidelity Launches ‘OnChain’ Share Class on Ethereum
Fidelity Investments is moving its Treasury money market fund (FYHXX) to the blockchain by creating an Ethereum-based “OnChain” share class. The new initiative will allow investors to track transactions transparently and verifiably, while traditional ledgers will remain the primary record of ownership.
Fidelity’s move marks its move as it joins a tokenization trend that includes giants like BlackRock and Franklin Templeton. The OnChain share class is expected to go live on May 30, while Fidelity also plans to launch a Solana-based fund.
MegaETH Launches Testnet, Hits 20,000 TPS on Day One
MegaETH, a platform designed to make Ethereum faster and more scalable, opened its testnet to the public and reached 20,000 transactions per second on its first day. Unlike Ethereum’s current layer-2 solutions, this new system aims to create a single, high-speed network and improves performance by processing transactions in parallel.
MegaETH raised $20 million in 2024 from prominent investors like Vitalik Buterin and Joseph Lubin. Some platforms have already started testing on the new network, and developers plan to reach a capacity of 100,000 transactions per second in the future.
Trump Supports TRUMP Token, Price Rises
Donald Trump supported the $TRUMP token on Truth Social, calling it “very cool.” The token’s price rose by 10% after that, but then fell by up to 50% with the launch of the $MELANIA token.
The token, which runs on the Solana blockchain and has a supply of 1 billion, rose to $75 when it was launched and reached a market value of $15 billion. The token is being promoted as a political symbol for Trump supporters, and the locked reserves are planned to be released gradually over three years.
Open House in Japan to Accept DOGE, SOL, and XRP for Real Estate Sales
Open House Group, one of Japan’s leading real estate companies, will now accept XRP, Solana (SOL), and Dogecoin (DOGE) as payments. The company, which previously supported Bitcoin (BTC) and Ethereum (ETH), aims to attract international investors with this move.
Japan continues to support the ecosystem with crypto-friendly regulations. While the government is working on a plan to tax crypto earnings by 20%, these steps could encourage the spread of large-scale transactions with crypto.
Pakistan to Utilize Excess Energy with Bitcoin Mining
Pakistan aims to use excess energy efficiently and attract crypto investors by developing special electricity tariffs for Bitcoin mining. Market-based pricing will be implemented without government subsidies, thus converting idle electricity production into economic gain.
Authorities plan to create a regulatory framework for digital assets and attract global investors. This step is seen as part of a strategy to make Pakistan a regional crypto hub. In addition, it is aimed to adopt the most appropriate model by examining the different mining policies of countries such as the USA, Russia and El Salvador.
—————————————————————————————————
BITCOIN (BTC)
BTC is trading at $86,870 levels with a 0.93% increase in value as of the morning hours. For BTC, which tested the $86,849 resistance and showed movement above it instantly, it will be important for BTC to maintain its persistence above this level in order for the upward movement to continue. In this case, the $89.822 and $91.614 levels can be targeted, with $84.757 being the first significant support in case of a possible pullback. If this level is broken downwards, a drop to the $ 81,237 support may be possible.
ETHEREUM (ETH)
ETH is priced at $ 2,045 as of the morning hours with a 2.05% gain in value. Approaching the $ 2,068 resistance, ETH is trying to overcome this level. In order for the upward movement to continue, it will be important to maintain stability above the $ 2,068 level. In this case, a rise towards the $ 2,233 level can be expected. In possible pullbacks, $ 1,960 is the first support. If this level is broken downwards, a drop to the $ 1,842 support may be possible.
RIPPLE (XRP)
XRP is traded at $ 2.46 levels with a 0.85% gain as of the morning hours. As the upward movement continues, it shows an increase towards the $ 2,570 resistance. If the price breaks this resistance, an acceleration may occur up to the $ 2,641 level. However, if it is rejected from the $ 2,570 level, there is a possibility of a pullback to the $ 2,429 support. Further below, the $ 2,225 and $ 2,124 support levels should be followed.
AVALANCHE (AVAX)
AVAX is trading at $ 21.51 as of the morning hours with an 8.63% gain in value. In order for the rise to continue, it must first remain above the $ 21.23 level. If it remains constant, the $ 22.54 resistance can be tested and if this area is broken, the $ 23.46 level can be targeted.
If AVAX cannot exceed the $ 21.23 level, a pullback may occur towards the $ 19.89 support. If this level is lost, the $ 18.18 support point will be critical.
SOLANA (SOL)
SOL is traded at $ 139 levels with a 4.65% gain as of the morning hours. In order for the rise to continue, it will be important to overcome the $ 141.07 resistance. If this level is broken, the price can be expected to accelerate to $ 148.29.
Otherwise, if SOL loses the $ 136.46 support, the $ 128.21 level can be followed as support. In case of a deeper pullback, the $121.77 area is of critical importance.
