Day: May 20, 2023

Bipartisan Securities Clarity Act re-introduced amid crypto regulatory challenges

Amid ongoing legal battles between the U.S. Securities and Exchange Commission (SEC) and several cryptocurrency organizations, a bipartisan effort led by majority whip Tom Emmer and representative Darren Soto has re-introduced the Securities Clarity Act. The act, initially presented in 2020, aims to demarcate a clear line between commodities and securities, thereby refining regulatory legislation concerning digital assets. Emmer asserts that the current law’s lack of distinction between an asset and the securities contract it may be part of, compromises American innovation. The new legislation, if enacted, will regard an…

Users will decide if they can still trust Ledger with their seed phrases

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Self-custody is important in crypto, and security is essential to self-custody. Ledger, a notable hardware wallet manufacturer, has built its reputation on the secure storage of users’ private keys. Hardware wallets create a secure offline environment for storing keys and using keys to execute transactions. The user’s private keys are generated and stored within the device and are supposed to never leave it. This “cold storage” provides an unrivaled level of security compared with “hot wallets” or online wallets. The problem is that lots of people lose their keys. Ledger…