The Securities and Exchange Commission blocked staking when crypto exchange-traded funds were granted, but the lawmakers suggest the SEC may have been off-base.

Bybit CEO has said that the exchange is solvent and withdrawals remain open.

It will mark the first time that Costa Ricans will have access to any type of crypto investment product through the country’s banking system.

The move happened as crypto exchange Bybit saw a sudden $1.4 billion worth of ETH outflow.

A portion of staked ether is currently being liquidated on decentralized exchanges.

The move is meant to help lure instituional investors and improve market transparency.

The agency’s withdrawal of the lawsuit could boost crypto prices, marking a milestone in U.S. regulatory oversight for the digital asset industry.

The company says the commission will vote on a deal negotiated by staff to abandon the enforcement case at the core of the agency’s previous crypto stance.

More tokens could be added to exchanges, increasing their trading revenue. This might also open the floodgates to crypto firms’ IPOs in the U.S.

The South African alternative investment firm has bought one bitcoin.