wry Posted March 12, 2019 #1 Posted March 12, 2019 In what I can only describe as a moment of jaw dropping surprise two news articles about the US Securities and Exchange Commission (SEC) crossed my desk and in both of them the SEC was actually acting in a reasonably intelligent manner about crypto projects. If this isn't man bites dog type stuff, nothing is! The first article has the SEC executive in charge of regulating crypto assets actually touring the USA to visit face to face with crypto start ups and firms to learn about them. This is the first time I've seen the SEC really take a constructive approach to engaging with the crypto community in a non-enforcement framework. I thought this was really exciting and encouraging. The second article has the SEC admitting, though not directly, that they may have made a mistake about a lot of crypto assets. They basically acknowledge that even coins they have deemed financial securities in the past, may not, gasp, actually be securities! While Bitcoin itself has never been classified as a security, lots of alt coins based on Etherium (available to wager on Stake!) have been. Despite the fact that in the past the SEC said Ether is a security they are now saying it isn't! The fact that the SEC actually walked back some of its prior opinions on some crypto assets is a huge positive. I think this shows crypto is really turning the corner from "ponzi" and "tulips" type knee jerk reactions to being more of a serious investment asset! Link for SEC tour: https://www.coindesk.com/the-secs-crypto-czar-is-hitting-the-road-and-she-wants-to-meet-you Link for SEC reconsidering: https://www.coindesk.com/jay-clayton-coin-center-letter
peel1 Posted March 12, 2019 #2 Posted March 12, 2019 Oh yeah crypto is the future maybe not right now or next year but its 100% going to be a MASSIVE thing in the future. Alot of county and basically everyone has started to realize its not a "scam" and "criminal money (thats what the UK seemed to tell everyone that it was)" and that its useful and helpful (especial for privacy something that disappearing real fast). Crypto really is the future
williamshennie9 Posted March 13, 2019 #3 Posted March 13, 2019 7 hours ago, wry said: The second article has the SEC admitting, though not directly, that they may have made a mistake about a lot of crypto assets. All the financial institutions in my countries refused to invest in bitcoin, and they were criticized in public for it, because the value just kept increasing. Now they are they ones who are pointing the fingers at everyone who bought bitcoin at $15,000+ and are suffering all the losses. So it just goes to show, nobody knows what will happen. yes the SEC made a mistake, but it could have gone to $100,000 and they would have made a killing! It all comes down to chance at the end of the day.
wry Posted March 13, 2019 Author #4 Posted March 13, 2019 17 hours ago, williamshennie9 said: yes the SEC made a mistake, but it could have gone to $100,000 and they would have made a killing! The SEC does not make investments, it decides what is legal for the citizens of the USA to invest in. Since Bitcoin has never been suggested to be a security they have never prohibited the selling or trading of it, though many US states do. As to the BTC price, the disdain of bankers and financial professionals is a main reason I'd like to see the BTC price rebound. They were so quick to condemn something they didn't understand. While BTC may not make much difference in a place like the USA right now, it would be a god send in Venezuela as other news stories posted here can attest.
Kate Posted March 14, 2019 #5 Posted March 14, 2019 Hopefully by 2020 bitcoin regains its actual price ie; 17000 USD and remains there for the ever known.
Shaniqua Posted March 14, 2019 #6 Posted March 14, 2019 40 minutes ago, Kate said: Hopefully by 2020 bitcoin regains its actual price ie; 17000 USD and remains there for the ever known. yeah i have hear stuff close to that number in terms of predictions from analysts, but personally i dont think it will., but that was indeed a interesting news wry, thanks for finding it for us. yeah definitely not a security, too volatile for thats for sure
wry Posted March 16, 2019 Author #7 Posted March 16, 2019 In a follow up to this story, the South By Southwest "confab" (for lack of a better word) is going on in Austin Texas right now. True to their word, the SEC was there and said some nice things about crypto, including that "crypto spring would come." This is one of the first nice things they've said about crypto! I'm increasingly optimistic about crypto and bitcoin now. Sure enough price is poking it's head above 4K USD on many markets! Check the link for the full write up! Link: https://www.coindesk.com/secs-valerie-szczepanik-at-sxsw-crypto-spring-is-going-to-come
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