The big news is that a SEC official has announced that ₿itcoin and Ethereum are not securities, so what does that mean?
The most important thing about this is that there is trust once again in the 2 main cryptos, well trust not from us the true believers, the true HODLERS or crypto fans but from the outsiders who are on the brink of investing but not sure if its a danger to them, well this piece of news should bring some of those individuals to our side being them small time investors or even accredited.
Here is a quote from Williaam Hinman who is head of the Division of Coroporation Finance at the SEC:
“Central to determining whether a security is being sold is how it is being sold and the reasonable expectations of purchasers”
Basically this mean that if people know exactly what they are getting when purchasing a crypto then its safe, personally this statement doesn’t mean anything to me and to be honest shows the level of uncertainty and misunderstanding these individuals have on crypto, honestly I know exactly what I’m fucking getting when I invest into a shit coin (not that I do that… well sometimes when I feel a gamble haha) I know that I am investing in a specific project and or/idea and that I’ve done my research and the possibility if a loss of investment, but where isn’t there a possibility of loss of investment? Daaaam will struggle to find a few examples!
Here are 2 points for you, the fact BTC and ETH has been announced to not be securities has already increased trading volume and a brief bull run, have a look:
So if your struggling to see, those are both 1 week charts showing a clear affect of the news above.
But let me leave you with 1 piece of information, think of securities as a means unlocking trillions of dollars in assets that are just waiting to be tokenized, really thing about it, I think there is a future for securities and even coinbase do also:
- Coinbase, a $1.6 billion cryptocurrency exchange, has approached regulators about registering as a licensed brokerage, according to The Wall Street Journal.
- Registering with the Securities and Exchange Commission (SEC) would allow Coinbase to exchange those cryptocurrencies that the feds determine to be securities.
- Though the cryptocurrency space has historically been anti-regulation, the SEC is clamping down.
Things are getting serious, but is it for the better?