Creating coherent crypto regulation was always going to be a challenge. This industry is remarkably different from the norms of traditional finance. The SEC is grappling with these questions even as DigiToads (TOADS) launches an exciting NFT collection.
One such bone of contention is whether the agency classifies cryptocurrencies as securities. The answer to this question will be significant for the entire industry as the SEC has cracked down on specific crypto projects using this justification. The focus is on crypto projects whose development team primarily generates returns for token holders after the project launches.
DigiToads is keen to build a community of users to facilitate value creation. The utility meme coin raised over $7 million in its recently concluded presale. This buzz is incredible for a new project, especially given the market upheaval already in place. Bitcoin whales and other major investors are looking at TOADS as a token with tremendous upside.
The project creates more value for its users through its NFT staking feature. Staking is available from 21st July 2023 at 11 a.m. UTC. Users can start minting the NFTs at https://mint.digitoads.world/
SEC greenlights Ethereum Futures ETF but no comment on whether ETH is a security
The Securities and Exchange Commission continues to loom large over the crypto sector. This agency has reportedly approved the registration of an Ethereum futures Exchange Traded Fund (ETF).
This news is significant for crypto investors who want ways to trade on digital asset prices without holding the crypto itself. The SEC took long to approve crypto-related ETFs and this could have profound implications on market activity.
Analysts were quick to point out the confusion still lingering despite this announcement. The SEC has been reluctant to comment on whether Ethereum itself is a security. SEC CEO Gary Gensler declined to comment at a congressional hearing in August, leaving lingering questions about Ethereum’s standing. Clarity on its position will be vital for investors still worried about the long-term prospects of the enterprise blockchain king.
DigiToads provides a rising alternative for investors
The SEC’s indecision has not stopped DigiToads from launching like a rocketship. This utility meme coin has created a 450% return on investment for investors at the launch price of $0.055. Such margins make TOADS one of the hottest tokens in the market today.
DigiToads is also launching its NFT staking feature on 21st August 2023. This tool allows users on DigiToads to stake their minted NFTs and gain a portion of TOADS transaction fees. Such utility increases the inherent value of the NFTs by allowing them to become an income-generating tool.
The NFTs on DigiToads augment this play-to-earn gaming ecosystem. Minting NFTs is accessible to users once they approve their wallets and the NFT stage on the platform. Once you start minting, there is no stopping as the value therein is tremendous. Users can commence staking from 11 a.m UTC on 21st August at http://stake.digitoads.world
Conclusion
Clarity from the SEC on the exact line between a regular cryptocurrency and a security is crucial. It is very confusing to give the green light to an Ethereum futures ETF but remain silent on ETH itself.
In the meantime, more investors are confirming their belief in DigiToads by purchasing tokens. The project’s value creation model through a popular NFT game is endearing to more users. DigiToads launches as a project with distinction in a stagnant market. This factor makes TOADS a must-have token, especially for notable investors like Bitcoin whales.
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
Photo by Kanchanara on Unsplash
