Mark Cuban Urges SEC to Publish Comprehensive Guidelines for Crypto
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SEC Sued Blockchain Company Ripple
The Dallas Mavericks owner remarked in response to a recent op-ed by SEC Chair Gary Gensler for the Wall Street Journal. After the SEC sued blockchain company Ripple, the "regulation by enforcement" strategy of the organization came under scrutiny. Despite the novelty of the technology, Gensler contends that securities regulations ought to be applied to Bitcoin holdings. He compared cryptocurrencies to cars, which still have basic safety measures despite technological advancements in the auto industry.
Blockchain Bridges
The enormous solidity codebase and several attack vectors that could be utilized to hack the bridge must first be overcome by developers. Bridges on the blockchain have grown to be one of the most popular targets for hackers, costing them billions of dollars in cryptocurrency. North Korean hackers are suspected of stealing $625 million from Axie Infinity's bridge early this year. Blockchain bridges are responsible for most of the stolen cryptocurrency funds in 2022, according to Chainalysis. Blockchain bridges are highly vulnerable because if there is a weakness in the smart contracts, it is probable that a hacker will exploit them.
The spike in Ethereum gas prices and the unwillingness of the necessary entities to engage are two more difficulties that the Dogecoin bridge engineers must overcome. Michi Lumin, a developer for Dogecoin Core, reported discussing the bridge in late May.