GOAT’s Take on Today’s Crypto News
You know what time it is — GOAT Daily News time! Today, we’re diving into some juicy crypto legislation and an enchanting new blockchain called Magi.
So grab your coffee, and let’s get started!
Crypto Laws Get a Boost in Congress
Big news, folks! Major U.S. crypto legislation is picking up steam, with members from the House and Senate working together to create new market structure rules around digital assets.
They aim to introduce the legislation in late May, which has a real shot at becoming law. (🍾 Party at the GOAT’s pen if it does 🍾)
This comes amidst regulatory crackdowns by the CFTC and SEC and recommendations from the Biden administration for new laws governing digital assets.
Plus, there’s a parallel effort to advance a bipartisan framework for stablecoins. Keep your hooves crossed, because this could be a game-changer for the crypto world.
Introducing Magi, a16z’s New Blockchain
Just three months after the release of Base, Coinbase’s Layer 2 blockchain, a16z has announced Magi, a new blockchain that aims to tackle centralization in blockchains.
As a consensus client, Magi will work alongside execution nodes like op-geth to sync with any OP Stack chain, including Optimism and Base.
Although Magi is still in the early stages of development, the team has grand plans for it, including tracking the unsafe head to lower latency, new sync mechanisms, and alternative data availability layer support.
With client diversity on the rise, the L2 world is getting more competitive than ever — but that’s great for us!
As the wise Steve Jobs once said, “Innovation distinguishes between a leader and a follower.”
Let’s keep innovating, crypto fam!
Quick Bites 🔥
- MakerDAO approves a cool $500M USDC transfer to Coinbase Custody at 2.6% yield 💸
- EU Parliament says yes to MiCA crypto licensing and transfer of funds regulation 💶
- Iron Fish Mainnet makes a splash with its official launch 🐟
- Binance reveals the 31st project on Launchpad: Open Campus (EDU) 🎓
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