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Community-driven DeFi token SafeMoon has made it to the top 100 cryptocurrencies by market capitalization. SafeMoon prepares for a comeback with the upcoming V2 upgrade.
In the meantime, the Indian government is considering a middle path on cryptocurrencies, as it finalises legislation on the virtual asset to be introduced in the upcoming winter session of Parliament. The hard-line stance for an outright ban of cryptos is not being found feasible in view of large investments in such instruments by Indians, and these unregulated virtual currencies are also unlikely to be allowed as a legal tender.
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Regulation across borders has to keep up with the rapidly advancing pace of cryptocurrency development. Due to the decentralized nature of cryptocurrencies, this is a complex matter, with international disagreement ranging from the legitimacy of currency status, or even whether they should be made illegal.
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Safemoon protocol aims to create a self-regenerating automatic liquidity providing protocol that would pay out static rewards to holders and penalize sellers.