China News Official TheBitTimes.com

As soon as a gamer cashes out an in-game asset, they realize monetary value, which is where the problem with the SEC comes in, a Shrapnel executive told Cointelegraph. The creators of blockchain game Shrapnel — an upcoming AAA first-person extraction shooter — will be cutting a part of its game for United States-based players, in order to avoid the potential ire of the country’s securities regulator. The game, which is due to launch in early access in December, will be unrestricted for players from Europe and Asia but gamers from the U.S. will not be able to cash out at all, says Shrapnel Head of Economy Francis Brankin in a Sept. 13 interview with Cointelegraph at Token 2049. “They [U.S. users] can do everything every other player can do, but they can't cash out. Because that's what makes it a security to the U.S. player, as soon as they can realize monetary value, that’s where the problem comes in.” He hopes the issue will be temporary and that Neon — the team behind Shrapn...

The crypto community refused to be silent at recent comments made by the US Securities and Exchange Commission’s (SEC) chair. Specifically, the SEC head, Gary Gensler , sparked controversy by calling Bittrex a sec urities exchange. A statement made in a recent tweet by the official. The comments follow convoluted regulatory practices abounding throughout the industry. Moreover, in that statement, Gensler attacked the community for suffering “from a lack of regulatory compliance, not a lack of regulatory clarity.” Today’s action, yet again, makes plain that the crypto markets suffer from a lack of regulatory compliance, not a lack of regulatory clarity. https://t.co/JurmBacpXw — Gary Gensler (@GaryGensler) April 17, 2023 Gensler Speaks on Bittrex Exchange Yesterday, the SEC announced that crypto exchange Bitterx and its co-founder, Willian Shihara, were charged by the agency. Specifically, they were facing violations for operating an unregistered securities exchange. C...