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Emphasizing progress and challenges, the crypto review 2023 details crypto’s successes, failures, and notable legal and regulatory hurdles. The crypto market review 2023 reflects a transformative phase for crypto, with Bitcoin (BTC) experiencing over a 100% increase year-to-date (YTD) amid global economic challenges. This year, the number of crypto users swelled to around 575 million. Innovations weren’t scarce either, particularly in domains like stablecoins and blockchain-based social media.  While traditional stablecoins like USDT and USDC continued to dominate, platforms like friend.tech led the surge in socialfi, marking a new chapter in digital interaction. Although the crypto industry overview shows a dip in fundraising, down to $7.96 billion, it also reveals a sustained interest in derivatives trading over spot trading.  Security remained a critical focus, with a decrease in the total losses from hacks compared to previous years, yet it’s still a sign...

In written remarks submitted ahead of a hearing before the US Senate Banking Committee, SEC Chair Gary Gensler has once again reiterated his stance on crypto. The US Securities and Exchange Commission (SEC) Chairman, Gary Gensler, doesn’t seem to change his mind on crypto despite the recent challenges the regulator faced in court. In a written testimony submitted ahead of a hearing before the US Senate Banking Committee, the SEC boss has once again doubled down on his position against the industry . He said that “most crypto tokens are subject to the securities laws” and, therefore, “most crypto intermediaries have to comply with securities laws as well.” “There is nothing about the crypto asset securities markets that suggests that investors and issuers are less deserving of the protections of our securities laws.” SEC Chair Gary Gensler Gensler also said the industry faces many problems mainly due to “wide-ranging non-complianc...