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The Importance Of Cryptocurrency Compliance: XRP, Solana & Big Eyes Infinity Fuel The DeFi Ecosystem

John Williams

Aug 20, 2023 — 4 min read

Following the collapse of FTX, once a major cryptocurrency exchange platform, founder Sam Bankman-Fried faced federal fraud charges. In January, he was charged with illegally redirecting funds from FTX customers to Alameda and pleaded not guilty to eight criminal charges, including securities fraud and money laundering. Additionally, Caroline Ellison got recordings accusing Sam Bankman-Fried of FTX's collapse.

Thankfully, some cryptos follow government-stated cryptocurrency compliance policies to the dot. XRP, Solana and Big Eyes Infinity (BIGINF) have proved time and time again that they are cryptos that abide by the rules and regulations of the system to positively influence the market.

Do Meme Coins Adhere To Cryptocurrency Compliances?

The landscape of the crypto sphere underwent a significant transformation following FTX's decline. Fortunately, cryptocurrencies like Ripple, Solana, and the upcoming Big Eyes Infinity presale from Big Eyes coin are gaining back confidence in the crypto realm.

The backing for these coins stems from their commitment to delivering on their promises. XRP's victory over the Securities and Exchange Commission (SEC) garnered support from crypto advocates. Conversely, SOL found itself entangled in a legal dispute over alleged violations of federal securities laws. An investor claimed that the ecosystem illicitly profited from SOL's native token blockchain.

<<Find More Information About BIGINF Presale>>

Speaking of cryptocurrency compliance, Big Eyes Infinity (BIGINF) is following the rules and ensuring everything runs smoothly. After its success in the first presale and ranking among the top cryptocurrencies in 2023, this new meme coin has stood by its promises. The community is supporting the project, and as a consequence, the project is rewarding all those who missed out on the first presale by offering 50% of the available tokens at the price of $0.00006 per token.

How Do Cryptocurrencies Improve Their Investment Base?

Following Caroline Ellison's revelation on a covert recording blaming Sam Bankman-Fried for FTX's collapse, the crypto industry can capitalize on this situation to rectify past errors, enhance the investor experience, and exhibit a more prominent commitment to regulatory compliance.

XRP is implementing Anti-Money Laundering (AML) measures to prevent the misuse of custodian services and cryptocurrency exchanges for illicit activities. Similarly, SOL adopts a risk-based approach to compliance, subjecting high-risk individuals to specific protocols. In contrast, Big Eyes Coin, stimulatingly with its new presale Of Big Eyes Infinity, avoided such issues by adhering to regulations from the outset, thereby fostering a solid community base of supporters.

How Do The Legal Frameworks Of SOL, XRP & BIGINF Operate?

Ripple introduces a practical approach to cryptocurrency compliance, emphasising collaboration between public and private sectors, adapting existing regulations, and promoting innovation sandboxes. This approach aims to provide legal clarity and address industry challenges more effectively than a regulation-by-enforcement strategy. Solana, on the other hand, employs a proof-of-stake system for transaction verification, coin supply management, and new coin creation. This system allows participants to earn rewards by aiding the system's operation, but stakes risk losses if validated transactions breach rules. Last but not least, Big Eyes and its new presale of BIGINF follow the security pattern of Ethereum’s Proof-of-Stake (PoS) consensus mechanism.

Cryptocurrency Compliance Will Ensure The Success Of Meme Coins

Successful crypto businesses prioritize compliance by implementing robust KYC procedures and obtaining the necessary tools and expertise. Failing to comply exposes the industry to risks, criminal activities, fines, and penalties, similar to the traditional financial sector. The Big Eyes community's relentless support and loyalty, as seen through Solana and XRP examples, demonstrate their confidence in the coin's mission and success.

Big Eyes community has shown continued support for the future success of the coin and wants to move forward and on to bigger and better things. The community’s faith and loyalty in the Big Eyes' mission, utility, and future success is proof that its positives have the potential to outperform the previous presale of BIG tokens. Learning from past mistakes, the BIGINF presale will airdrop the coins after the end of the presale. A complete abolishment of the tedious claiming procedure.