SEC Chair Affirms Agency's Power to Regulate Crypto, DeepSnitch AI Presale Gains Momentum

U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins has stated the agency possesses the regulatory jurisdiction to establish rules for the cryptocurrency sector without waiting for new legislation from Congress. Atkins, speaking on December 3rd, explained that the SEC is providing "technical assistance" to lawmakers as they consider broader crypto legislation, including a market structure bill in the Senate. Despite delays from the recent government shutdown, he indicated progress is being made on an "innovation exemption" designed to support the crypto sector, with a potential release within one to two months.

This regulatory backdrop coincides with significant activity in the altcoin market, particularly around the DeepSnitch AI (DSNT) project. The AI-driven trading platform's ongoing presale has surpassed $657,000 in funding, with its token price rising approximately 70%. The project, which aims to deploy AI agents for market monitoring, news filtering, and scam detection, is rumored for a launch in January 2026. Promotional materials heavily speculate on its potential for extreme returns, framing it as a candidate for 100x or even 1000x gains.

Meanwhile, other altcoins are also in focus. Chainlink (LINK) saw a price rebound to $13.89, attributed partly to Grayscale's launch of the first U.S.-based ETF linked to the token. Analysts suggest a break above $14 could lead to a test of $16. Sui (SUI) also posted weekly gains of 14.4%, trading at $1.76, with technical indicators pointing to potential movement toward $2.00.

Separately, a notable development from Brazil emerged from the Blockchain Conference Brazil on November 29th. Pedro Guerra, an advisor to the country's vice president, revealed he had consulted cryptocurrency exchanges about the idea of Brazil adopting a Bitcoin strategic reserve to combat inflation and diversify government investments. While such a measure would require congressional approval, it marks a significant step in national-level Bitcoin adoption discourse.