SEC Faces Mounting Pressure to Turn DeFi Guidance Into Formal Rules
Bitcoin.com News·60-word summary·1 min read
Over 30 crypto industry participants have urged the SEC to formalize its DeFi guidance, citing regulatory uncertainty that hampers blockchain innovation. The call comes amid mounting pressure on the SEC to turn its existing crypto guidance into clear, enforceable rules, with industry stakeholders emphasizing that formal regulation would better align oversight with decentralized blockchain infrastructure.
At the LONGITUDE event in Paris, Adam Back of Blockstream discussed Satoshi Nakamoto theories, while OKX Europe’s CEO praised MiCA regulation for crypto industry growth. The event highlighted ongoing debates about crypto regulation and industry development, with Back emphasizing the importance of clear rules and industry leaders advocating for supportive policies.
Bitcoin and Ether surged today, driven by US liquidity measures and record inflows into spot ETFs, which offset investor concerns over recession risks and the Iran conflict. The rally reflects positive market sentiment, but it remains uncertain whether bulls can sustain control amid ongoing geopolitical and economic uncertainties. The crypto market's momentum continues to be influenced by macroeconomic factors.
Institutional Bitcoin ETF inflows reached five consecutive days, adding $238 million on April 21, helping Bitcoin surpass $78,000 for the first time since February. This momentum has fueled a bullish prediction for Pepeto, suggesting its price could rise from $4,000 to $600,000 as market confidence grows. The trend highlights increasing institutional interest in crypto assets.
Ripple moved 75 million XRP worth $107 million between April 20-21, with 50 million transferred to an internal wallet. The transaction involved splitting XRP into five parts, reflecting high network activity. Institutional interest in XRP is rising, with over $65 million in new funds entering the space, and daily transactions reaching nearly 3 million, boosting XRP’s utility and ecosystem growth.
Sam Bankman-Fried, the former FTX CEO, filed a motion for a new trial on April 22, 2026, and requested a different judge. He stated he consulted with his parents and lawyers but claimed to be the sole author of the documents. The legal move follows ongoing efforts to challenge his recent court proceedings.
Morgan Creek Capital CEO Mark Yusko criticized the US CLARITY Act, currently in Senate's final stages, calling it a “horrible bill” that could prolong the crypto bear market beyond October. He argued the legislation favors large banks and could hinder industry growth, warning that its passage might reinforce bearish conditions rather than trigger a bullish rally.
