Best Crypto to Buy Now as New Crypto Bill Targets Big Firm Dominance
While cryptocurrency is close to becoming the norm in the US thanks to the regulatory reforms the country has been introducing, control is still very much in the hands of large firms. To curtail this influence, House Republicans on May 5 introduced a new “Digital Asset Market Structure Discussion Draft.”
Led by House Agriculture and Financial Services Committee Chairs Glenn Thompson and French Hill, the draft is a meaningful rewrite of the Financial Innovation and Technology for the 21st Century Act (FIT21).
The draft reportedly highlights several rules that could give more power to the people and move crypto trading services out of the almost-hegemonic control of large firms—creating the perfect opportunity to find the best crypto to buy now.
This is because as rules become more inclusive, adoption could increase, leading crypto investors to gain from the surge in new customers.
Draft Could Bring True Decentralization Within the Blockchain Economy
The major change the draft introduced to FIT21 is that it redefines the term affiliate person as someone who has been allocated 1% of a digital commodity—a reduction from the previous threshold of 5%.
According to Justin Slaughter, an executive from Paradigm, this approach could reduce the dominance of leading cryptocurrency firms.
“This bill makes clear the regulatory regime proposed is going to push against crypto dominance by a few firms and strongly encourage more small-scale ‘democratization’ of the cryptocurrency space,” he said.
Another major change the draft brings is the redefinition of a “mature blockchain system,” which is now defined as a system not under the common control of a company or a community. Essentially, the draft ensures that only truly decentralized blockchains can gain the perks of being considered mature.
Other changes create clarity around decentralized finance trading protocols, which are defined as financial transactions that can be conducted in a self-directed manner.
To further differentiate cryptocurrencies from traditional assets, the draft also introduces a new term for them: investment contract assets.
While these measures are inclusive and sure to empower many, Republicans are already facing roadblocks. An unnamed Democratic staffer told CoinTelegraph that House Financial Services Committee Ranking Member Maxine Waters plans to block this Republican-led event discussing digital assets.
Best Crypto to Buy Now – Top 4 Picks
With efforts being made to make the cryptocurrency ecosystem more inclusive so that smaller trading firms can thrive, investors have another reason to be bullish. Therefore, the following assets could be considered the best investments right now.
BTC Bull
BTC Bull has made waves in the cryptocurrency market as a Bitcoin meme coin with high growth potential.
The project has devised mechanics that make its growth closely tied to Bitcoin’s price movements. This is done using milestone implementation, where Bitcoin hitting a certain price point will unlock BTC Bull’s features.
One of the features is a token burn, introducing a deflationary aspect to the ecosystem to increase its value. The other is Bitcoin airdrops, giving holders access to free Bitcoins.
The second utility has generated a lot of buzz in the market, with Jacob Crypto Bury saying it could lead to the crypto rising 10x upon listing.
The iconic image of a bull as its mascot also adds a layer of uniqueness to BTC Bull, which could result in massive short-term gains.
That said, there are no long-term projects associated with it as of yet, which means it is mostly suitable for meme coin investors looking for significant returns in a relatively short time.
SUBBD
SUBBD is a meme coin project that has generated excitement within the crypto space by offering an OnlyFans alternative within the blockchain domain.
While much of its aesthetics mirror the popular content creation platform, unique tools—like the AI Agent Creation Kit—have been added to provide enhanced content.
Described as a platform that could redefine the creator-fan relationship, SUBBD features an array of tools that make the interaction more collaborative.
SUBBD tokens are used for transactions, giving users access to exclusive perks and automating the payment system. SUBBD holders will also gain special staking rewards, including never-seen-before content.
Many top-earning models, or HONEYS, have already collaborated with SUBBD, ensuring fans always have access to a wide variety of content.
An AI influencer module is also in the works and will reportedly provide massive value to fans and creators alike.
In a video posted about two weeks ago, 99Bitcoins called SUBBD the next utility token that could deliver a 10x gain.
Solaxy
Solaxy is a token that could leverage progressive regulations to provide Solana with a more scalable ecosystem.
As the world’s first L2 solution for the Solana blockchain, Solaxy has implemented technologies ranging from Celestia and Hyperlane to ZK Rollups to unlock Solana’s full potential.
The goal of Solaxy is to enhance Solana’s ecosystem enough to support the creation of more meme coins, potentially leading to a significant increase in Solana’s overall value.
Developers have already shared insights into what’s happening behind the scenes, and a block explorer has also launched—indicating that Solaxy isn’t just another meme coin riding the utility wave.
Upwards of $33 million has been raised by this project so far, and influencers like 99Bitcoins have stated that its growth could mirror Shiba Inu’s trajectory after launch.
Mind of Pepe
Mind of Pepe is an AI agent token that could gain momentum with progressive regulations emerging within the cryptocurrency space.
Launched at a time when the AI agent narrative had strong market backing, Mind of Pepe is a meme coin project that combines Pepe-themed branding with AI-driven functionality.
The project will reportedly leverage real-time intelligence and hive-mind analysis to offer deep market insights to investors—complete with holder-exclusive trading alpha calls and the ability to create and deploy tokens.
The Mind of Pepe AI agent is also set to go live this week on Twitter and will reportedly provide users with sharp takes on current market conditions.
While there are no comedic memes to promote this project, its primary focus on AI perks gives it an edge in the current market environment.
Best Wallet Token has already been highlighted as a token that could have an explosive launch. Considering it has raised close to $12 million to date, that could be a major possibility.
Conclusion
The move to remove the hegemony of major crypto trading firms and give start-ups a fair chance is admirable. While the draft has not yet been accepted and already faces opposition, the government’s willingness to introduce it is a step in the right direction.
This shift could allow assets beyond Bitcoin to be considered among the best crypto to buy now—offering users a much-needed opportunity to diversify their cryptocurrency investments.
This article has been provided by one of our commercial partners and does not reflect Cryptonomist’s opinion. Please be aware our commercial partners may use affiliate programs to generate revenues through the links on this article.