Here is the outline for the newsletter today🔥

• U.S. Judge Rejects Binance.US Complaint Over SEC Press Release on Protecting Customer Money💰

• Introducing Nodeless: Accept Bitcoin Lightning Payments Without KYC🕵️‍♀️

• Solana, Polygon, Cardano Still Recovering From the SEC Calling Them Securities⚖

U.S. Judge Rejects Binance.US Complaint Over SEC Press Release on Protecting Customer Money💰

A federal judge has made a ruling in favor of the SEC, rejecting Binance.US' complaint over a press release issued by the regulatory agency.

Binance.US had raised concerns about the SEC's "misleading" public statements regarding its handling of customer funds. However, Judge Amy Berman Jackson dismissed the claims, stating that the court's role is not to intervene in shaping the parties' press releases.

The judge emphasized that court intervention was unnecessary at the present time, and it was unclear whether the SEC's public relations efforts would significantly impact the ongoing legal proceedings.

Binance.US, operating under the name BAM Trading, had filed the complaint, alleging that the SEC's press release could introduce confusion into the marketplace and potentially harm its customers.

Binance.US's legal team further argued that there was no evidence of any dissipation, commingling, or misuse of customer assets.

However, the judge has given Binance.US until September 21 to respond to the SEC's allegations, with the SEC's reply due on November 7.

This ruling comes as Binance.US prepares to fight against the SEC in court. The SEC had previously filed a lawsuit against Binance, the world's largest cryptocurrency exchange by trading volumes, alleging violations of federal securities laws by the company and its CEO, Changpeng "CZ" Zhao.

In recent months, the SEC has taken legal action against several prominent crypto companies, citing the need to protect investors in an industry characterized as risky and largely non-compliant.

Introducing Nodeless: Accept Bitcoin Lightning Payments Without KYC🕵️‍♀️

We're excited to bring you the latest development in the world of cryptocurrency payments. Nodeless, the non-KYC Bitcoin Lightning Processor, has been making waves since it caught the attention of none other than Jack Dorsey himself.

In a recent tweet, the Bitcoin advocate and co-founder of Twitter shared a link to Nodeless, hinting at his endorsement of this innovative platform.

So, what exactly is Nodeless? In simple terms, it's a tool that enables merchants to accept Bitcoin payments with ease, specifically utilizing the Lightning Network.

This network is widely regarded as the most promising method for Bitcoin to achieve mainstream adoption, offering faster and more cost-effective transactions.

Nodeless aims to make Bitcoin a widely accepted medium of exchange by streamlining the process for merchants. By integrating Nodeless into their websites, businesses can seamlessly accept Bitcoin Lightning payments.

However, what sets Nodeless apart from other Lightning-based payment providers, like OpenNode, is its non-KYC approach. Users do not need to share personal identifying information to start accepting payments through Nodeless.

While other platforms offer simplified Lightning node setup, Nodeless takes a unique approach. As the name suggests, Nodeless allows merchants to accept payments without running their own Lightning node.

Instead, Nodeless acts as the intermediary node, facilitating the transaction process. When a payment is sent to the merchant, it is first directed to Nodeless, which then promptly forwards the payment to the merchant's on-chain or Lightning address.

It's important to note that Nodeless operates on a custodial basis, holding a user's funds for a brief period of time. However, the platform commits to returning the funds quickly. Users provide a Lightning address or a cold wallet storage Bitcoin address to which Nodeless promptly forwards the funds.

While some Bitcoin enthusiasts have raised concerns about KYC requirements and centralization, Nodeless aims to address these issues. Currently, the platform operates legally in Canada, where transactions under $1,000 don't necessitate KYC identification.

As Nodeless continues to evolve, it holds the potential to revolutionize Bitcoin payments and advance the adoption of cryptocurrencies as a medium of exchange.

Solana, Polygon, Cardano Still Recovering From the SEC Calling Them Securities⚖

The recent actions taken by the U.S. Securities and Exchange Commission (SEC) against Binance and Coinbase have had a significant impact on the crypto market.

Solana, Polygon, Cardano, and several other tokens have been labeled as securities by the SEC, leading to a loss of 15%, equivalent to $5 billion, in their collective market capitalizations since the start of June.

The lawsuits filed by the SEC alleged that Binance and Coinbase were involved in selling unregistered securities. While the industry criticized these allegations as "pretty unfair," the affected tokens have suffered collateral damage.

Solana, Polygon, Cardano, and other tokens have been dragged into court battles, causing a decline in their market values. According to a Decrypt analysis of CoinGecko data, the collective market capitalizations of these tokens have experienced a significant setback.

The SEC's actions have raised concerns within the cryptocurrency industry. Critics argue that the selective targeting of certain tokens while others remain unmentioned raises questions about fairness.

Out of the countless cryptocurrencies in the market, only a handful have been labeled as securities.

Despite these setbacks, it's important to note that the overall crypto market has been on a bullish rally recently. The "BlackRock Rally," named after the filing for a spot Bitcoin ETF by the traditional finance titan, has boosted the price of Bitcoin and lifted the tide for most tokens.

✨Bonus News✨

Disclaimer: This is not any kind of financial advise. This newsletter is solely informational; it does not constitute investment advice, a solicitation to buy or sell any securities, or a recommendation regarding how to manage your money. Be cautious and conduct your own study, please.