🦨 SEC lawyer accused Binance of operating an unregistered securities exchange in the US

🦨 SEC lawyer accused Binance of operating an unregistered securities exchange in the US 👻 Regulation of crypto firms could scare away innovation, Ripple CEO warns 💻 Vitalik: ETH's UX has a long road ahead to become truly satisfactory

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Now, for what's been going on in the space:

🦨 SEC lawyer accused Binance of operating an unregistered securities exchange in the US 

👻 Regulation of crypto firms could scare away innovation, Ripple CEO warns

💻 Vitalik: ETH's UX has a long road ahead to become truly satisfactory

SEC lawyer accused Binance of operating an unregistered securities exchange in the US

It seems that US SEC believes Binance is operating in the US without its permission and is breaking the law. SEC representative William Uptegrove spoke at a bankruptcy court hearing to determine the sale of Voyager Digital assets, accusing the crypto exchange of operating illegally. He said, "The staff believes that Binance.US is operating an unregistered securities exchange in the United States."

He also mentioned that his views do not necessarily reflect the views of the five commissioners, that would need to approve any enforcement action taken against Binance, but still it sounds like he's trying to send a message. One thing is for sure, the SEC is not playing around when it comes to crypto anymore.

Regulation of crypto firms could scare away innovation, Ripple CEO warns

SEC's regulation through enforcement is like using a sledgehammer to crack an egg, according to Ripple's (XRP) CEO Brad Garlinghouse. In a March 3 Bloomberg interview, he asserted that the SEC's heavy-handed regulatory approach may frighten crypto firms away from the US and prevent it from becoming an attractive hub for blockchain and crypto innovation, and apparently, the process has already begun.

The CEO reminisced on the time in the late 1990s when there were efforts to ban the internet too because of scammers but rather than shutting everything down, we came up with proper regulations. He believes we should be taking a similar approach towards digital assets, with the SEC creating a framework that provides clear protections for consumers. Of course, some of his critics might argue that such an approach may leave us open to more scams and illicit activity, but if you think about it, the same argument could be made about any new technology.

The crypto community is sure the SEC is waging an all out war against crypto now, and that this is only the beginning. The SEC's actions have sparked a lot of heated debates across social media, but we can only hope that in the end, things will eventually work out for the better.

Vitalik: ETH's UX has a long road ahead to become truly satisfactory

Vitalik's recent blog post suggests that ETH has long road ahead before achieving a truly satisfactory user experience. He cautions not to focus on the "fancy and sleek" when it comes to creating UIs, because if something goes wrong 0.723% of the time and causes some big problems then it isn't worth having.

Instead, he says, the devs should focus more on the “simple and robust”, because it may not be pretty but at least you can understand what's going on and don't have to worry about any hidden bugs.

He says this is the only way Ethereum can become an ideal platform for users, and if it fails to do this then people will be forced to use CEXes, and he isn't wrong. UI and UX are of #1 importance in the modern day, not because as a business you will get more money out of it, but because crypto adoption depends on it. If people have a good user experience, they are more likely to stick around and use the product or service, so if devs realize this then we could look forward to a much better future for crypto.