Anthony Charlton FCIM’s Post

In a significant legal development, a U.S. federal court ruled that cryptocurrency tokens themselves are not securities. Specifically, the court found that cryptocurrencies, including secondary sales of BNB (Binance’s native token), do not constitute securities offerings. This decision is a major win for the crypto industry and has implications for ongoing legal battles. Here are the key points from the ruling: **Cryptocurrencies Not Securities:** • Judge Amy Berman Jackson ruled that cryptocurrency tokens are not investment contracts falling under the purview of the U.S. Securities and Exchange Commission (SEC). • The court emphasized that the focus should be on the circumstances of each token sale, rather than considering cryptocurrencies themselves as securities. **Howey Test and Expectation of Profits:** • The court dismissed several claims made by the SEC against Binance. • The SEC failed to show that purchasers in secondary market sales acquired BNB with an expectation of profits, a key criterion under the Howey test (a legal framework to determine investment contracts). **Positive Implications and Ongoing Legal Battles:** • This ruling could benefit other crypto-related cases, including the SEC vs. Ripple lawsuit. • It provides relief for investors and clarifies the regulatory landscape for cryptocurrencies. **Background on SEC vs. Binance:** • In June 2023, the SEC sued Binance and Coinbase for alleged securities violations. • Despite no evidence of misappropriation, Binance settled to pay a $4.3 billion fine. • The next court hearing for the Binance vs. SEC case is scheduled for July 9. Binance’s U.S. wing expressed readiness for continued legal proceedings, emphasizing their preparedness for the case. The crypto industry closely watches these developments as they shape the regulatory environment for digital assets.🚀

In a significant legal development, a U.S. federal court ruled that cryptocurrency tokens themselves are not securities. Specifically, the court found that cryptocurrencies, including secondary sales of BNB (Binance’s native token), do not constitute securities offerings. This decision is a major win for the crypto industry and has implications for ongoing legal battles. Here are the key points from the ruling: **Cryptocurrencies Not Securities:** • Judge Amy Berman Jackson ruled that cryptocurrency tokens are not investment contracts falling under the purview of the U.S. Securities and Exchange Commission (SEC). • The court emphasized that the focus should be on the circumstances of each token sale, rather than considering cryptocurrencies themselves as securities. **Howey Test and Expectation of Profits:** • The court dismissed several claims made by the SEC against Binance. • The SEC failed to show that purchasers in secondary market sales acquired BNB with an expectation of profits, a key criterion under the Howey test (a legal framework to determine investment contracts). **Positive Implications and Ongoing Legal Battles:** • This ruling could benefit other crypto-related cases, including the SEC vs. Ripple lawsuit. • It provides relief for investors and clarifies the regulatory landscape for cryptocurrencies. **Background on SEC vs. Binance:** • In June 2023, the SEC sued Binance and Coinbase for alleged securities violations. • Despite no evidence of misappropriation, Binance settled to pay a $4.3 billion fine. • The next court hearing for the Binance vs. SEC case is scheduled for July 9. Binance’s U.S. wing expressed readiness for continued legal proceedings, emphasizing their preparedness for the case. The crypto industry closely watches these developments as they shape the regulatory environment for digital assets.🚀 Source: Cointelegraph

Banana, the indie clicker game on Valve corporation's Steam, has taken the gaming world by storm with its #NFT-like rewards. Players click on an image of a banana to earn digital bananas, which range from common ones worth pennies to rare bananas fetching up to $1,300 when sold on Steam’s marketplace. Surprisingly, these “banana skins” function like NFTs, even though the game doesn’t use #blockchain technology. Instead, they’re added directly to players’ Steam inventories, making them eligible for trading and listing on the Community Market. The game’s simplicity has sparked debates about #Web3 gaming, with some arguing that it doesn’t always require complex AAA titles to succeed. As Banana continues to "peel" away at the gaming industry, it highlights the universal appeal of web3 behaviour and the potential for broader adoption in crypto gaming. 🍌🎮

The Decentralize with Cointelegraph podcast recently dived into the world of blockchain gaming with executives from five innovative Web3 projects: Shrapnel, Ex Populus, Saga, HyperPlay, and MetalCore. From kids to adults, video games connect people worldwide through play, cooperation, and competition. The gaming industry’s potential to integrate blockchain technology is enormous, and the experts agree that for Web3 games to go mainstream, they must offer frictionless gameplay that appeals to both crypto enthusiasts and skeptics. Yat Siu co-founder and chairman of Animoca Brands, believes gaming will drive mass adoption of blockchain. @Toby Batton, founder and CEO of Ex Populus, echoes this sentiment: "If blockchain technology is really going to hit the mainstream, it’s going to be through gaming. With billions of players globally, the fit between blockchain and games is perfect." 🌐🕹

Aethir's APhone is launching a revolutionary DApp store that seamlessly integrates Web2 and Web3 applications. This innovative platform, AppNest, offers a unique blend of traditional and blockchain-based solutions, catering to both mainstream users and crypto enthusiasts. Key highlights include: 📲 Listing of popular crypto apps like @Binance, OKX, Phantom, MetaMask Bitget Wallet, and Uniswap. 🔗 Integration of widely-used Web2 apps such as WhatsApp Instagram, and ChatGPT. 🤝 Plans to connect with decentralized finance platforms, allowing users to lend, borrow, and earn interest using APhone's native token. William Paul Peckham, APhone's Chief Business Officer, shares, "We are giving users a complete ‘outside the box’ experience — moving beyond the conventional hardware requirements and reach of traditional gatekeepers." This development marks a significant step forward for the industry, enhancing accessibility, and bridging the gap between traditional and decentralized technologies. It's a game-changer that promises to expand possibilities and drive innovation. 🌐💡 Sources: Cointelegraph #Blockchain #Web3 #Crypto #TechInnovation #FinTech

📈 Blockchain gaming is poised for significant growth and presents an exciting opportunity for the mainstream market. Despite being seen as one of the most promising pathways for the technology’s global adoption, there's still a vast potential audience yet to engage. 🔎 A recent study by London-based market research firm OnePoll involving over 2,000 respondents, highlighted that 52% of gamers are not yet familiar with blockchain games. Additionally, 32% have heard of blockchain but have not yet experienced any games utilizing this decentralized technology. 🚀 This data underscores the enormous untapped market for blockchain gaming, indicating a bright future for the industry. Blockchain gaming has seen impressive growth in recent years. A December study projected the market to reach $70 billion by the end of 2024, and another report estimated the sector's value to soar to $600 billion by 2030. #GamingGrowth #BlockchainGaming #Gaming Sources: CoinGeek, Steve K.

🔥 Exciting news from the Web3 world: Avail, led by Polygon Labs co-founder Anurag Arjun has raised $75 million to tackle key challenges like blockchain fragmentation and data availability. 💰 On June 4, Avail secured $43 million in a heavily oversubscribed Series A round, adding to its previous $32 million from pre-seed and seed rounds. This funding will accelerate the development of Avail's permissionless unification layer for Web3. 🌐 Arjun is focused on addressing three major Web3 issues: fragmentation, data availability, and scalability. By moving data off-chain and verifying its availability using advanced techniques like validity proofs and data availability sampling, Avail aims to revolutionize blockchain efficiency. 💭 Avail's innovative approach and strong financial backing position it to overcome critical Web3 challenges, paving the way for a more unified and scalable blockchain future. Sources: Cointelegraph Arijit Sarkar #Web3 #BlockchainInnovation #Avail

🚀 The global #blockchaingaming market is on the verge of a massive boom, with a forecasted growth of USD 43.45 billion from 2024 to 2028, according to Technavio. #Blockchain is revolutionizing the gaming landscape through the play-to-earn model. This innovative approach is not only drawing a diverse crowd but also boosting player engagement and ownership, thanks to digital assets. Blockchain gaming is set to transform the industry, driving significant growth and reshaping how players interact with games. Exciting times ahead for gamers and developers alike! Sources: The Crypto Times Technavio

🚀 Big news in the gaming world as Immutable's Passport surpasses a milestone of over 1 million signups! This innovative platform is transforming how gamers manage and transfer digital assets like NFTs across different gaming environments. 📈 Witnessing the growth from 400,000 to 1 million users within a month is remarkable, driven by 700,000 new active users. This achievement aligns with Immutable's vision to seamlessly onboard the next billion users to web3, significantly enhancing the gaming experience. 🌍 Supporting over 300 leading blockchain games, including Guild of Guardians which attracted over a million registrations before its global release last week, Immutable Passport is carving out a pivotal role in the future of our industry. Their unique, secure identity solution simplifies the onboarding process, making it easier for gamers to access and stick with new games. 💡 The addition of a new dashboard feature further improves how users discover, store, and manage in-game items. The Immutable Passport is an essential tool in bridging the gap between players, developers, and digital assets worldwide. Sources: NFTPlazas.com #Gaming #NFT #TechInnovation https://lnkd.in/epT7DXyF

Apple is nearing completion on a deal with OpenAI to integrate #ChatGPT features into iPhones, potentially launching with the upcoming iOS 18 software update. This advancement is reported alongside Apple's discussions with Alphabet Inc. to possibly include the Gemini chatbot. Despite previous concerns about sensitive data compromises leading Apple to restrict ChatGPT's use last year, the company is evidently pushing forward. Recent reports highlight Apple's efforts to beef up its own AI capabilities, recruiting top talents from Google to form a robust #AI and machine learning team. This move by Apple signals a significant stride in enhancing user experience and technological integration, positioning the tech giant at the forefront of AI innovation in mobile technology. Sources: Cointelegraph