Ethereum Reaches New High as U.S. Moves to Foster Innovation

This week in crypto, the U.S. took a significant step towards catching up with global innovation efforts, and the market reacted strongly. SEC Chair Paul Atkins announced an “innovation exemption” aimed at attracting innovators back home after acknowledging that the U.S. is significantly behind on blockchain technology. This move suggests a shift towards creating a more welcoming regulatory environment. Meanwhile, global regulators tightened their grip on cryptocurrencies as hacks faced serious legal repercussions. The combined effect has resulted in a robust rebound of the market, hitting $4 trillion in value.