IOTA Declared Non-Security: Bright Future Ahead for Crypto’s Quantum-Proof Tech6. Juni 2023
• The US SEC has filed a lawsuit against Binance, naming top altcoins including Cardano’s ADA, Solana’s SOL, Polygon’s MATIC, Filecoin’s FIL and Algorand’s ALGO, but no mention of IOTA’s native cryptocurrency MIOTA.
• The IOTA Foundation is actively engaging with government institutions to develop frameworks for cryptocurrencies and decentralized finance (DeFi).
• IOTA has quantum-proof technology that makes it a non-security and the foundation is working towards implementing the IOTA 2.0 framework and moving towards a fully decentralized node software.
IOTA Declared Non-Security
The US SEC recently filed a lawsuit against Binance that included several top altcoins such as Cardano’s ADA, Solana’s SOL, Polygon’s MATIC, Filecoin’s FIL and Algorand’s ALGO. However, no mention was made of IOTA’s native cryptocurrency MIOTA.
IOTA Engaging with Government Institutions
The IOTA Foundation has been actively engaging with government institutions to create frameworks for cryptocurrencies and DeFi (decentralized finance). This includes submissions to the European Parliament to build anti-money laundering (AML) and terrorist financing regulations for digital assets. It is also looking at ways to comply with the EU Markets in Crypto Assets (MiCA) laws which would give it more credibility as an asset class in Europe.
IOTAs Quantum-Proof Technology
Apart from being just a cryptocurrency, MIOTA serves as an important digital asset for transferring value on the blockchain. Its quantum-proof technology makes it immune from any regulatory action by regulators like the US SEC. This means that investors can buy into MIOTA without having to worry about any regulatory issues or legal matters that could arise in the future regarding its use or ownership of the asset class.
Moving Towards Fully Decentralized Node Software
The IOTA Foundation is working hard on implementing the IOTA 2.0 framework which will move it away from its current centralized node software model towards a fully decentralized one. This will improve security for users and make it easier for them to trust their funds when using MIOTAs blockchain network services.
A Bright Future Ahead
With its quantum proof technology protecting user funds from potential regulation by authorities such as the US SEC as well as its progress towards fully decentralizing its node software system; IOTAs future looks bright indeed! The foundation continues to expand globally while maintaining strong relationships with government institutions across Europe which should serve to keep this project compliant and secure going forward into 2021 and beyond!