Fidelity Digital Assets has quietly opened up Fidelity Crypto access to millions of users, allowing them to trade Bitcoin and Ether commission-free on the platform. Access to the platform was previously restricted to a waitlist.

Leading decentralized exchange Uniswap has officially gone live on the BNB Chain, the smart contract blockchain developed by leading cryptocurrency trading platform Binance. The move means Uniswap is now live on six blockchains.

The Chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has reiterated his stance that Proof-of-Stake tokens may meet the definition of securities under the Howey Test, and there fall under the agency’s regulatory purview.

 Top stories in the Crypto Roundup today:

• Fidelity Crypto Quietly Goes Live
• Leading DEX Uniswap Launches on BNB Chain
• SEC Chairman Suggests Proof-of-Stake Tokens Are Securities
• Bitcoin Associated Tokens Rally Amid Ordinals Hype

Fidelity Crypto Quietly Goes Live

Fidelity Digital Assets has quietly opened up Fidelity Crypto access to millions of users, allowing them to trade Bitcoin and Ether commission-free on the platform. Access to the platform was previously restricted to a waitlist.

First-time users of Fidelity Crypto are required to set up a Fidelity Brokerage account during the setup process. Bitcoin and Ether are currently the only two assets available for trading, the service is commission-free, and the firm will charge a spread of no more than 1%.

Withdrawals aren’t yet enabled on the platform, and the service isn’t available in every state. The move means Fidelity, with a total of 37.1 million retail accounts, has moved faster than most of its peers in the U.S. in offering crypto to retail clients.

The move is as the regulatory environment in the US heats up, after the collapse of two of crypto's biggest banking partners, Silvergate and Signature Bank.

Leading DEX Uniswap Launches on BNB Chain

Leading decentralized exchange Uniswap has officially gone live on the BNB Chain, the smart contract blockchain developed by leading cryptocurrency trading platform Binance. The move means Uniswap is now live on six blockchains.

Last month, 55 million UNI token holders voted in favor of a governance proposal to deploy Uniswap v3 on BNB Chain, citing the need to expand the platform's reach and drive growth and adoption of DeFi.

Wormhole was chosen as the protocol's designated bridge to BNB Chain in a temperature check vote, a process made to determine whether there is sufficient will to make a change.

Uniswap’s move to the BNB Chain makes the protocol available to those using that network, which offers low transaction fees and has a growing user base while tapping into its liquidity pool.

The launch aligns with the DeFi industry's focus on greater accessibility and cross-blockchain compatibility, and is expected to fuel growth for both Uniswap and BNB Chain.

SEC Chairman Suggests Proof-of-Stake Tokens Are Securities

The Chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has reiterated his stance that Proof-of-Stake tokens may meet the definition of securities under the Howey Test, and there fall under the agency’s regulatory purview.

Speaking to journalists following a commission vote on Wednesday, Gensler explained that securities laws could apply because investors expect returns when they purchase tokens supported by a Proof-of-Stake consensus mechanism.

Gensler encouraged token issuers to ensure compliance, as well as intermediaries. The chairman’s comments came after reporters asked for his views on Commodity Futures Trading Commission Chair Rostin Behnam’s statement that Ether is a commodity and should be regulated by his agency.

The SEC and the CFTC have long disagreed over which body should regulate the crypto markets.

Bitcoin Associated Tokens Rally Amid Ordinals Hype

Bitcoin Ordinals brought increased attention to the Bitcoin ecosystem tokens, resulting in a surge of interest in assets such as Stacks, a layer 2 protocol for decentralized applications and smart contracts built on the Bitcoin network. Stacks experienced a 325% increase in its price since January.

Several other tokens have also demonstrated notable performances, including Sovryn, Threshold Network, and REN, which have recorded impressive year-to-date returns of 265%, 136%, and 79.8%, respectively, as of February.

Dive deeper into the cryptocurrency market via CryptoCompre’s latest Asset Report.

State of the Crypto by Top Tier Exchange Volume

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