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Etherlink has deployed its third protocol upgrade, Calypso, on mainnet to bring a massive performance boost to the Tezos layer 2 network. The Ethereum Virtual Machine-compatible layer 2 solution built on Tezos ( XTZ ) announced the Calypso upgrade was live on the mainnet on March 12, coming a few weeks after the EVM-compatible L2 deployed on testnet. The road to mainnet included a governance vote by Tezos bakers, key ecosystem components that work alongside Tezos nodes. Following approval for the mainnet launch, Calypso has successfully deployed to bring improvements such as enhanced network speed, resilience, and efficiency to developers of decentralized applications. Deployment also means faster XTZ withdrawals from Etherlink to Tezos. Etherlink’s non-custodial platform, powered by the Tezos smart rollup technology, allows for frictionless integration of dApps and supports Ethereum ecosystem tools such as wallets and indexers. With its latest upgrade going live on mainnet, its performance could see up to a 30x boost — significant numbers in the world of decentralized finance and exchanges. Calypso also means improved smart contract storage and governance updates. It lays the foundation for improvements to non-custodial and trustless token bridging. As it stands, users can bridge the native Tezos token tez from the layer 1 chain to Etherlink and back. Bridging XTZ from Etherlink to Tezos L1 is called withdrawing, while bridging XTZ from the layer 1 chain to the Etherlink network is called depositing. In both cases, XTZ is the native token on both chains. “Moving tez from Etherlink to Tezos L1 currently can feel like waiting in traffic. Calypso introduces a new precompiled contract entrypoint, which lays the groundwork for much faster withdrawals,” Tezos said in February ahead of this mainnet rollout. Etherlink introduced its alpha testnet in 2023 and beta in early 2024, with key roadmap milestones including the integration of oracle price feeds, the LayerZero bridge, and a decentralized sequencer. Meanwhile, Tezos recently deployed its 17th upgrade with the activation of Quebec , which introduced faster transactions, rolled out improved staking mechanics and bolstered token issuance.

The U.S. Securities and Exchange Commission (SEC) has again postponed decisions on several cryptocurrency spot exchange-traded funds (ETFs), prolonging the wait for investors eager to see more altcoin’ backed ETFs enter the market. This delay affects ETFs tied to Solana, XRP, Litecoin, and Dogecoin, among others. The SEC stated that additional time is needed to evaluate the proposed ETFs and their potential impact on the market. While this move may seem like a setback, analysts remain optimistic that these products will eventually receive regulatory approval. In its latest round of postponements, the SEC extended the review process for multiple altcoin spot ETFs , including those filed by VanEck, Canary Capital, Grayscale, Bitwise, and 21Shares. The decision affects several key applications, such as VanEck’s Spot Solana ETF, Canary’s Spot Litecoin and XRP ETFs, and Grayscale’s Spot Dogecoin and XRP ETFs. The regulator also delayed decisions on ETFs that feature staking options for Ethereum and in-kind creation and redemption mechanisms for Bitcoin and Ethereum ETFs. The SEC has specifically pushed back decisions on Grayscale’s Spot XRP ETF and Cboe BZX’s Spot Solana ETF until May. Additionally, the deadline for the Canary Spot ADA ETF has been moved to May 29. The agency cited the need for a longer review period to thoroughly examine the proposed rule changes and any issues raised by these filings. Related: A Potential Tidal Wave for the Altcoin Market: Solana ETFs Despite the postponements, industry experts remain optimistic about the eventual approval of these ETFs. Bloomberg ETF analyst James Seyffart reassured investors that this is part of the SEC’s standard process. He pointed out that the delay does not indicate a lower chance of approval. According to Seyffart, the final deadlines for these ETFs extend until October, giving the agency ample time for further evaluation. Similarly, analyst Eric Balchunas highlighted that delays were anticipated across the board, including for Ethereum ETFs featuring staking capabilities. He noted that while regulatory scrutiny remains high, the likelihood of approval remains high. The delay comes amid shifting regulatory attitudes towards digital assets in the U.S. The recent executive order signed by President Donald Trump, which established a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile, indicates a growing institutional acceptance of cryptocurrency. Related: SEC Cracks Down on Solana ETFs: What It Means for Crypto’s Future However, the SEC’s reluctance to greenlight altcoin ETF approvals suggests a more cautious stance when dealing with non-Bitcoin assets. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Findings from India’s Financial Intelligence Unit (FIU) indicate suspicions that cryptocurrencies are being used for illicit activities, including terrorism financing, cybercrime, narcotics trafficking, and illegal betting. Prepared during the 2023-2024 financial year, the FIU’s report for virtual digital assets (VDAs) and their service providers (such as crypto exchanges) analyzed numerous suspicious transaction reports (STRs) from the sector. These findings have been shared with agencies like the Enforcement Directorate (ED), Central Bureau of Investigation (CBI), and the Income-Tax Department, ultimately leading to enforcement actions in certain cases. The report also mentions shady pump and dump schemes with fake coins, high-volume crypto transactions in illegal forex apps, and attempts to involve individuals suspected of unlawful activities. This news breaks during a time where India is crafting a regulatory framework for cryptocurrencies. While not illegal, income from cryptocurrency transactions has been taxed at a flat rate of 30% since 2022. Therefore, the findings could impact regulations due to the FIU’s report, as suspicions may lead to heightened measures aimed at preventing the misuse of digital assets, not to mention that it may influence public perception and adoption of cryptocurrencies. The RBI (Reserve Bank of India) has also expressed doubts about private cryptocurrencies, viewing them as a big risk to India’s economic and financial stability. India has historically struggled with challenges related to money laundering and terrorist financing. Last year , the Financial Action Task Force (FATF), an international anti-money laundering watchdog, urged the country to speed up prosecutions in financial fraud cases. Despite being compliant on most parameters, India was rated as moderately effective in investigating and prosecuting money laundering, with issues like court backlogs slowing down convictions. Add cryptocurrencies to the mix and it all becomes very complicated, making the challenge of rooting out criminal activities even worse as the pseudonymous nature of digital currencies can hamper the authorities when trying to trace potentially criminal transactions. It’s not clear how India will respond to the findings of the FIU’s report, but all this highlights the need for robust regulatory frameworks that will balance innovation with the prevention of illicit activities in the crypto industry. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Bolivia is taking a radical step to combat a severe dollar shortage. The state-run energy company, Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), is switching to crypto to pay for fuel imports. This bold decision aims to keep fuel subsidies afloat and ensure a stable supply of gasoline and diesel. But the bigger question is: could this signal a wider trend? Bolivia’s foreign currency reserves have dried up, largely due to a sharp decline in natural gas exports. The nation, once a regional energy powerhouse, now depends on imported fuel. Importing that fuel, however, has become a nightmare. The central bank is struggling to maintain its currency reserves, causing fuel shortages, long lines at gas stations, and growing public unrest. Desperate for a solution, the Bolivian government has authorized the use of digital assets for international transactions. YPFB has put a system in place to make cryptocurrency-based payments for energy imports. While no transactions have occurred yet, officials confirm preparations are underway. This unorthodox approach could provide temporary relief, allowing fuel imports to continue despite the lack of hard currency. Related: Bolivian Central Bank Reverses Crypto Ban, Opens Door for Financial Innovation To make matters worse, Bolivia’s government has also cut fuel subsidies. These subsidies, long a cornerstone of economic policy, have become unsustainable. The cuts primarily affect industries like gold mining and agribusiness, though everyday consumers are spared – for now . This decision has infuriated key economic sectors, particularly agriculture. With the summer harvest on the horizon, farmers worry about fuel shortages crippling production and transportation. The National Chamber of Industries has also warned of potential food supply chain disruptions, threatening to worsen economic instability. Related: Sunnyvale Public Safety Officers’ Association Adds Bitcoin to Balance Sheet To prevent fuel smuggling and unauthorized use, the government is deploying the military to oversee fuel distribution. This heavy-handed approach has only fueled frustration among affected groups. Protests and blockades have already started. Gold mining cooperatives are also planning a meeting to discuss the impact, potentially sparking further demonstrations. YPFB insists it can still supply 60% of the country’s fuel demand. However, officials acknowledge the need for a broader, long-term strategy. The government is racing to create a plan to stabilize the fuel market. Meanwhile, reliance on cryptocurrency transactions could provide a short-term fix, but its long-term viability as a sustainable payment method remains highly questionable. For crypto investors, Bolivia’s gamble could be a sign of things to come – or a cautionary reminder. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

FOX Business journalist Eleanor Terrett reports that the legal battle between Ripple Labs and the U.S. SEC is nearing a resolution. Settlement talks are underway, following the August district court ruling – a partial victory for Ripple. But sources reveal there still remains a sticking point: the $125 million fine. The major hurdle, according to insiders, is Ripple’s objection to the $125 million fine imposed by Judge Analisa Torres in July 2023. While significantly less than the SEC’s original $2 billion demand, Ripple’s legal team is fighting for better terms. They argue that the fine is unjustified, particularly given the SEC’s evolving stance under new leadership. Essentially, Ripple is arguing that it shouldn’t be punished for actions taken during a period of regulatory murkiness, especially if the SEC is now softening its approach to crypto regulations. So now the ongoing discussions center on whether Ripple will pay the fine and whether it will be bound by a long-term ruling preventing the sale of XRP to institutional investors. This last point is crucial for XRP’s future. Ripple’s position gains weight considering the larger shifts in the regulatory landscape for digital assets. The SEC has dropped several lawsuits against major crypto firms like Coinbase, Gemini, and Kraken. Related: Ripple vs. SEC: Could XRP’s Legal Battle End with Leadership Changes? These moves hint at a possible revision of the SEC’s approach to the crypto industry under its new leadership. Ripple believes that if other companies are being offered a clean slate, they should not be singled out for past actions under what they consider to be an unclear regulatory framework. Despite the ongoing settlement talks, the case remains unresolved. While other crypto-related cases, such as those involving Coinbase and Binance, have seen progress or temporary pauses , the Ripple-SEC dispute is still at an impasse. Related: SEC Drops Multiple Lawsuits and Investigations Against Crypto Firms—Here’s the List Legal experts, including James Murphy , suggest the delay could stem from Ripple’s efforts to settle the appeal of Judge Torres’ ruling. This claim suggests that Ripple’s legal team is aiming to overturn the ban and limit the impact of the findings of securities law violations. The outcome of these negotiations could have major implications for XRP’s price and its future role in the crypto market. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.