DiFi

The SEC acting chair instructed to review cryptocurrency-related statements to determine whether modifications or retractions are necessary

ChainCatcher news, according to The Block, Acting Chair of the U.S. Securities and Exchange Commission (SEC) Mark T. Uyeda instructed agency staff on Saturday to review several previously issued employee statements regarding the application of securities laws to cryptocurrency investments and digital assets. This directive was issued under Executive Order 14192 (titled "Promoting Prosperity Through Regulatory Relief") and in response to recommendations from the Department of Government Efficiency (DOGE). Uyeda stated that the statements would be reviewed to determine whether they need to be "modified or rescinded" to align with the SEC's current priorities.The specific statements under review include: the 2019 guidance on whether digital assets constitute securities, which involves how to assess whether digital assets fall under securities through the "Howey Test"; the 2021 statement on Bitcoin futures, which advised investors to exercise particular caution when investing in mutual funds involving the Bitcoin futures market, emphasizing the speculative nature of the market, risks of market manipulation, liquidity constraints, and volatility, especially within mutual funds; and the 2022 guidance following cryptocurrency bankruptcy events, which required crypto companies to transparently disclose risks related to the crypto market, highlighting impacts on investors, including custody risks, liquidity issues, reputational damage, and regulatory scrutiny.Additionally, Uyeda also instructed the review of a risk alert issued in February 2021, warning investors about the "unique risks" of trading digital assets, as well as a 2020 statement regarding Wyoming allowing state-chartered trust companies to custody digital assets.

The WEMIX Foundation has decided to stop the WENIX token minting rewards for each block and plans to implement a hard fork modification in the first quarter

ChainCatcher news, the South Korean blockchain gaming platform WEMIX announced that the foundation has decided to stop the WENIX token minting rewards for each block, meaning that the total supply of WEMIX will remain unchanged, or will start to decrease from the block height at which the block minting rewards are stopped. The project team will use the WEMIX held by the foundation for distribution to incentivize ecosystem contributors, which is expected to last for about 20 years, while the current network fees through automatic destruction will be converted to bulk destruction, with the destruction rate determined at the end of each quarter.According to the timeline, WEMIX will release an updated white paper reflecting the above changes and will redistribute the token allocation based on the updated white paper. Subsequently, WEMIX3.0 will undergo a hard fork, which will stop block reward minting after deployment, and the total supply of WEMIX will be determined based on the specified block height, disclosed on various data aggregation platforms such as CoinMarketCap and through exchanges. In addition, the new block rewards will be distributed through a "block reward" wallet designed separately by the WEMIX foundation. The modifications and deployment of WEMIX3.0 are expected to take place in the first quarter of this year. The project team will provide guidance to the community through official announcements before each program execution.
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