United St Securities and Commission, or SEC, chair Gary Gensler has doubled down on his “Wild West” analogy for cryptocurrencies, calling stablecoins instruments for gambling at old-timey casinos. Speaking to Washington Post columnist David Ignatius on Tuesday, Gensler said most projects in the crypto space dealt with securities that fall under the regulatory purview of the SEC, while the Commodity Futures Trading Commission, or CFTC, was better suited for enforcement for others. The SEC chair described the authority of both agencies as “robust” but said there were gaps in the coverage, particularly for stablecoins, which “may have attributes of investment contracts.” “Stablecoins are almost acting like poker chips at the casino right now,” said Gensler. “We’ve got a lot of casinos here in the Wild West, and the poker chip is these stablecoins at the casino gaming tables.”

It should be remembered that what remains today in writing of the pre-Qin schools should not necessarily be considered representative of their relative importance at the time. During the warring states period, Mencius complained that the world was full of the words of Mozi and Yangzi; yet today little remains of Yangzi’s doctrines, and much of the book of Mozi survived only by historical accident. Similarly, Huizi was a debater whose ideas had considerable influence on debate at the time (as is recorded in the Zhuangzi and other texts), yet no works of his remain extant today. History played a large part in ensuring the preservation of the Confucian texts, as well as the various ancient classics revered by the school, and perhaps also the various Legalist texts.Additionally, attention should be paid to the way texts were prepared and handed down through the ages. Many texts of the period claim to either be the work of or record the words of a particular scholar or historical person of the time. However it is often difficult to establish the authenticity of these attributions, and in some cases they are simply not true. In many cases, works were prepared largely by the followers of a particular school of thought, and a single book may be the collective work of many authors, sometimes over a period of decades or even hundreds of years. Naturally, this means that events and conversations recorded in one book (by one school of thought) are prone to bias, and tend to present their own side in a positive light; debates between opposing thinkers often end with one side appearing “lost for words” and accepting defeat, when in reality they might well have had much more to say; in some cases, historical figures are presented as caricatures or figures of ridicule.Because texts were generally reproduced by scribes copying the original text character by character, the transmission of texts could easily introduce accidental errors; occasionally, new passages were inserted and presented as part of the original work. The compact

A new survey has revealed bleak insights into the apparent willingness of retail investors to follow digital asset advice from the social media accounts of celebrities and influencers. According to a Morning Consultant survey of 2,200 U.S. adults, 45% of crypto-holding respondents indicated they would be likely to seek exposure to a digital asset if it is endorsed by a celebrity, compared to just 20% of participants overall. There were some more promising results, with three-quarters of crypto investors indicating they were likely to invest based on a family member or friend’s recommendation while 81% would invest in response to advice from a financial advisor.

The team behind the design of NBA Houston Rockets player John Wall’s nonfungible token may have ripped off one of the backgrounds directly from the popular online game Fortnite. Wall first announced he planned to release a line of “Baby Baller” nonfungible tokens, or NFTs, on Tuesday to raise $100,000 for charity and the “Ballers community.” However, once he posted a preview of the tokenized artwork on Twitter, social media users were quick to notice that the background appeared to be lifted from Fortnite. The image, available on eason 5 of Fortnite from Epic Games, shows a basketball court adjacent to a building near coconut trees. Though Wall’s preview included one of the Baby Ballers on the court spinning a basketball on his finger, many commented that the artwork was a seemingly lazy attempt to get into the NFT game.

Last week, some former users of the now-defunct cryptocurrency exchange Cryptsy received a notice informing them of a new turn in the ongoing class settlement process. Authorized by the United States District Court for the Southern District of Florida, the document states that those who were defrauded in the 2016 collapse of the digital finance platform may be entitled to receive money from additional recovery. Cryptsy was a crypto exchange that went bust in January 2016 following months of user-reported issues with withdrawing funds from the platform. The court later found that Cryptsy founder Paul Vernon had stolen millions of dollars worth of customers’ digital assets before fleeing to China. Later that year, a group of the exchange’s users initiated a class action against the company and its founder, while what was left of Cryptsy went into receivership. The court-appointed receiver began to liquidate various assets associated with the defunct company, amassing some $1.5 million by June 2017 to be distributed between the victims.

Digital asset manager Cobo has raised $40 million to advance institutional pathways to decentralized finance products, offering compelling evidence that more Asia-Pacific investors are seeking secure access to the DeFi market. The Series B financing will be used by Cobo to develop the first DeFi-as-a-service, or DaaS, infrastructure, which allows institutions and their customers to access decentralized finance products in a compliant manner, the company announced Wednesday. Specifically, the capital will be deployed to acquire regulatory licenses and ensure that anti-money laundering guidelines are followed on all products. Cobo further explained that DaaS gives institutions more secure exposure to DeFi smart contracts without the need to understand market complexities.

Trading app Robinhood has opened up a waitlist to test a crypto wallet for users to hold their tokens. According to a Wednesday blog post, Robinhood plans to start testing a digital wallet feature on its app that enables users to send and receive cryptocurrencies in October. The move may encourage more Robinhood users to use the app for crypto trading, as it currently only allows them to buy crypto with United States dollars and trade on the platform — users can’t deposit or withdraw in crypto. Robinhood did not specify which tokens the digital wallet would support, but the app currently provides commission-free trading for Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Bitcoin SV (BSV), Dogecoin (DOGE), and Ethereum Classic (ETC). The company said it planned for the wallets to have security features, including identity verification, multi-factor authentication, and email and phone verification “to keep coins safe from hacks and other threats.”

Tokenized sport collectibles projects have raised almost $1 billion in funding in the space of a week. On Sept. 22 Dapper Labs — the firm behind the Flow blockchain and the widely popular tokenized basketball collectibles, NBA TopShot — announced a further $250 million in a funding round led by tech-focused hedge fund Coatue. As reported by Cointelegraph on Wednesday, French-based NFT soccer trading card game developer Sorare raised $680 million in Series B funding led by Japanese fintech giant Softbank. The funding round raised the valuation of the firm to $4.3 billion.

Non-fungible token company Bookblocks.io has partnered with a New York-based organization to help women in Afghanistan have access to education amid the Taliban takeover. Bookblocks.io announced it would be releasing a non-fungible token, or NFT, on Oct. 5 with the proceeds given to Women for Afghan Women, an organization which helps provide women access to education and vocational training in both Afghanistan and the United States. The artwork, inspired by American author Louisa May Alcott, features half a woman’s face covered by a single butterfly wing with the quote “nothing is impossible to a determined woman.” When the Taliban took control of Afghanistan in the 1990s, they banned education for almost all women and girls. History has practically repeated itself as the extremist Islamist group seized control of the government following the withdrawal of the U.S. military last month, only advising men and boys to return to school so far. The country’s Deputy Minister of Education Zabihullah Mujahidwhile has cryptically said the Taliban plans to give women and girls access to education “as soon as possible.”

El Salvador has made global headlines with its president's controversial introduction of Bitcoin (BTC) as legal tender — a move that has sparked dissent from many citizens and was met with skepticism by the International Monetary Fund. A new survey suggests that despite these developments, most El Salvadoreans still know little about the veteran cryptocurrency and even less about its smaller-market cap counterparts. Research conducted by the São Paulo-based agency Sherlock Communications suggests that 54% of Salvadoran respondents chose ‘none’ when asked which cryptocurrency they knew best out of a list of five leading coins. While 40% chose Bitcoin over the other listed cryptos — Ether (ETH), Bitcoin, Dogecoin (DOGE) and EOS — the survey did not seek to probe the level or depth of the knowledge these respondents have of the coin. In correspondence with Cointelegraph, Patrick O’Neill, director of Sherlock Communications, commented: