DASH, once widely used for payments in Latin America, has made a significant move. Accordingly, it has recently gone through the halving process. This adjustment reduces the block reward to 2.3 DASH. Meanwhile, the upcoming Proof of Work (PoW) token halving will take place on Litecoin. Let’s look at the details.
DASH and the securities debate
Following the Coinbase and Binance lawsuits, DASH has come to the fore in the securities debate. When it comes to cryptocurrencies and tokens, the US Securities and Exchange Commission (SEC) has classified many cryptocurrencies as securities in recent lawsuits involving Coinbase and Binance. Among them, cryptocurrencies emerged as one of the most discussed assets.
DASH was widely adopted for payments, especially in Latin America before 2020. However, he could not maintain this position. Its primary focus has shifted towards being a Proof of Work (PoW) coin. It should be noted that PoW tokens are generally less likely to be categorized as investment contracts due to their decentralized nature. However, this argument did not hold up when it comes to cryptocurrencies.
SEC’s view
According to the SEC, Masternodes provide additional security services on the cryptocurrency’s network, giving control to the Dash Core Group (DCG). The SEC emphasizes that the value of DASH tokens held by investors depends on the valuation of DASH held by Masternodes and DCG.
The SEC considers the existence of profit-making potential and the promise to buy a product as the basis for defining a security. In the case of DASH, the participation of Masternodes and DCG plays a crucial role in this assessment.
SEC announcement and status of DASH
The SEC has officially declared the DASH cryptocurrency a security. Accordingly, this led to the completion of the halving process at block 1,892,161. The reward for each block is now 2,3097 DASH. Looking ahead, the next reward halving in PoW tokens will occur in Litecoin. It is expected to be concluded within 40 days. Bitcoin Cash will witness the halving in 288 days and Bitcoin in 308 days. Currently, Bitcoin rewards 6.25 BTC per block. This figure will drop to 3.125 BTC after the halving.
cryptocoin.com When we look at it as a whole, the last halving of the cryptocurrency represents an important milestone for the cryptocurrency. With its designation as a security by the SEC, its value and future trajectory came under closer scrutiny. With the upcoming halving events in other major cryptocurrencies, market dynamics are expected to change. Accordingly, this situation requires investors to have knowledge. It also makes it crucial that they adapt their strategy accordingly.
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