Digital Collectibles Rebound Amidst Growing Regulatory Scrutiny
Digital Collectibles Rebound Amidst Growing Regulatory Scrutiny
The digital collectibles market, particularly NFTs, shows early signs of a rebound with Animoca's strategic acquisition of Somo. This positive trend, however, is juxtaposed with concerns from Galaxy regarding a proposed Senate crypto bill, which they warn could grant the US Treasury significant surveillance powers, including the ability to freeze transactions and implement Patriot Act–style measures.
Animoca Expands Digital Collectibles Strategy
Animoca’s Somo acquisition expands its digital collectibles strategy as NFTs show early signs of renewed trading activity.
Regulatory Concerns Over Senate Crypto Bill
Galaxy says the draft crypto market structure bill would give the US Treasury new powers to freeze transactions and deploy Patriot Act–style measures.