The team at Mysten Labs, which develops the Sui blockchain, recently met with the SEC's Crypto Task Force to discuss the future of crypto regulation.
Discussion on Crypto Regulation
The recent meeting of Mysten Labs with the SEC's Crypto Task Force occurred just weeks before a significant hearing on financial privacy and surveillance scheduled for October 17, focusing on how to balance oversight with privacy in the rapidly growing cryptocurrency arena.
SUI Token Growth
The SUI token, valued at $12.6 billion, has seen impressive growth, gaining over 8% in the past week. Currently, the price stands at $3.52, although it recently dipped by 1.67% in the last 24 hours.
Future of Sui Network and SEC's Impact
SUI’s price momentum may continue if it can hold above the $3.48-$3.58 resistance zone. Commissioner Hester M. Peirce emphasized the importance of privacy tools during the conference, indicating they allow users to control who and when they share sensitive information.
With the SEC meetings and increasing interest in the SUI token, the regulators' upcoming decisions are likely to significantly impact Sui Network and the broader cryptocurrency market.
