DeFi

Gold

PAX Gold

Block

<p data-ct-non-breakable="true">Welcome to Finance Redefined, your weekly dose of essential <a href="https://cointelegraph.com/learn/defi-a-comprehensive-guide-to-decentralized-finance" rel="noopener noreferrer nofollow">decentralized finance (DeFi)</a> insights — a newsletter crafted to bring you the most significant developments from the past week.</p>
<p>In an interview with Cointelegraph, Ripple’s president stated that 2024 could be the year of DeFi regulations. Meanwhile, the United States Securities and Exchange Commission (SEC) has introduced a new definition for a “dealer” and “government securities dealer,” targeting liquidity providers in DeFi. But, experts believe stakeholders will challenge the new rule in court.</p>
<p>The top 100 DeFi tokens had a bullish week, following the footsteps of broader market gains, and the total value locked (TVL) in DeFi protocols crossed $63 billion.</p>
<h2 data-ct-non-breakable="true" id="defi-compliance-to-be-a-top-industry-trend-in-2024-says-ripple-s-president">DeFi compliance to be a top industry trend in 2024, says Ripple’s president</h2>
<p data-ct-non-breakable="true">According to its president, Monica Long, global payment network Ripple expects compliance in decentralized finance (DeFi) to be the industry’s “biggest breakthrough” of 2024.</p>
<p>In an interview with Cointelegraph, Long said previous hype cycles fueled by initial coin offerings and nonfungible tokens would be replaced by real-world utility at scale, which requires compliance, usability and integration with existing systems.</p>
<p data-ct-non-breakable="true"><a href="https://cointelegraph.com/news/defi-compliance-top-industry-trend-2024-says-ripple-president" rel="noopener noreferrer nofollow"><strong>Continue reading</strong></a></p>
<h2 data-ct-non-breakable="true" id="sec-s-new-dealer-rules-will-be-challenged-in-court-say-experts">SEC’s new dealer rules will be challenged in court, say experts</h2>
<p data-ct-non-breakable="true">The U.S. SEC adopted new rules on Feb. 6 that redefine “dealer” and “government securities dealer.” First proposed in 2022, the new rules require more crypto market participants to register, join a self-regulatory organization and comply with federal securities laws.</p>
<p>The <a href="https://cointelegraph.com/news/sec-redefinition-dealer-would-expand-oversight-crypto-defi" rel="noopener noreferrer nofollow">new SEC rules have garnered much criticism</a> from the crypto community, DeFi ecosystem and pro-crypto politicians. Since the rules were first proposed two years ago, the crypto community has protested, citing a lack of clarity on the definition of crypto securities.</p>
<p data-ct-non-breakable="true"><a href="https://cointelegraph.com/news/sec-lp-dealer-rules-challenged-court" rel="noopener noreferrer nofollow"><strong>Continue reading</strong></a></p>
<h2 data-ct-non-breakable="true" id="eigenlayer-tvl-rockets-1-billion-after-temporarily-removing-staking-caps">EigenLayer TVL rockets $1 billion after temporarily removing staking caps</h2>
<p data-ct-non-breakable="true">Ethereum-based liquid restaking protocol EigenLayer’s TVL has surged by a staggering $1 billion in just eight hours after the protocol temporarily removed its staking cap.</p>
<p>On Feb. 5, EigenLayer announced that it would temporarily lift its 200,000 Ether (<a href="https://cointelegraph.com/ethereum-price" rel="noopener noreferrer nofollow">ETH</a>) per protocol staking cap until Feb. 9 to “invite organic demand” to the network. The protocol said this temporary removal is “paving the way to a future” where all staking caps are permanently removed.</p>
<p data-ct-non-breakable="true"><a href="https://cointelegraph.com/news/eigenlayer-tvl-rockets-1b-after-removing-staking-caps" rel="noopener noreferrer nofollow"><strong>Continue reading</strong></a></p>
<h2 data-ct-non-breakable="true" id="block-earner-case-brings-nuanced-implications-for-defi-in-australia">Block Earner case brings “nuanced implications” for DeFi in Australia</h2>
<p data-ct-non-breakable="true">An Australian federal court has seemingly formed a nuanced distinction over crypto-yield products, ruling that while products that promise a managed yield require a financial services license, “pass-through” DeFi products may not.</p>
<p>In a Feb. 9 order, federal judge Darren Jackson <a href="https://download.asic.gov.au/media/ebepd0u0/24-019mr-asic-v-web3-ventures-pty-ltd-2024-fca-judgment.pdf" target="_blank" rel="noopener noreferrer nofollow">ruled</a> that Block Earner would be subject to penalties over the offering of its “Earner” product in 2022, which offered yield for loans denominated in USD Coin (<a href="https://cointelegraph.com/usdc-price-index" rel="noopener noreferrer nofollow">USDC</a>), Bitcoin (<a href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow">BTC)</a>, Ether and PAX Gold (PAXG), explaining that it needed to obtain an Australian Financial Services License.</p>
<p data-ct-non-breakable="true"><a href="https://cointelegraph.com/news/block-earner-ruling-australian-court-distinction-crypto-yield-products" rel="noopener noreferrer nofollow"><strong>Continue reading</strong></a></p>
<h2 data-ct-non-breakable="true" id="defi-market-overview">DeFi market overview</h2>
<p data-ct-non-breakable="true">Data from <a href="https://pro.cointelegraph.com/users/sign_in?" rel="noopener noreferrer nofollow">Cointelegraph Markets Pro</a> and TradingView shows that DeFi’s top 100 tokens by market capitalization had a bullish week, with most trading in the green on the weekly charts. The TVL in DeFi protocols reached $63.9 billion.</p>
<figure data-ct-non-breakable="true"><img src="https://s3.cointelegraph.com/uploads/2024-02/0fbf7790-7550-4ef6-bfe9-92dd35352ba6.png" alt="" title="">
</figure>
<p data-ct-non-breakable="true">Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.</p>

DeFi compliance in 2024, and new SEC rules set to be challenged: Finance Redefined

Table of Contents

Cointelegraph

Other articles published on Feb 9, 2024

Starlay Finance USDC Pool Compromised, Invites Hacker to Negotiate

Casinu Inu: Vitalik Buterin’s Groundbreaking Venture into Meme Coin Creation

Ubisoft Shifts Focus Away from VR Following Disappointing Sales of Assassin’s Creed Nexus VR

Bitcoin Investors On Edge As BTC Teases $46K

SOL Price: Solana Breaks Above $100, Dont Miss This Opportunity

Latest Solana Meme Coin Smog Token Unveils ETH Bridge After Massive $37M Market Cap Debut – Inves...

Join our free newsletter for daily crypto updates!