SEC and the Crypto World: The Gavel Drops
Oct 29, 2023
In the month of October, we've seen huge turnover of events and skyrocketing price of Bitcoin! Twitter has been on fire for the past week, traders selling altcoins and purchasing Bitcoin, and so much more.
Some key events:
SEC dismiss its own case against Ripple Labs executives
Bitcoin top $35,000 for the first time since May 2022
BlackRock's spot Bitcoin ETF on Nasdaq
You will notice that taking Bitcoin out of any exchange now takes much longer time. Now, why was SEC not favorable towards crypto in general? Unfortunately due to the nature of crypto, many have used crypto to violate securities laws. The lack of regulation in cryptocurrency markets also plays a huge role. In a previous blog post, we discuss the SEC's involvement with crypto.
Ripple rippling effect
First off, what happened with Ripple? The SEC accused Ripple of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP. Though the sales of XRP on public exchanges were not unregistered securities offerings there was uproar in the court as many found it disturbing how the SEC wasn't further pursuing the matter more thoroughly.
Why is a Bitcoin ETF a big deal?
A Bitcoin ETF "enable everyday investors the chance to get into crypto through their normal brokerage accounts without having to buy and store the digital tokens themselves". So you don't need a Trezor or COLDCARD and have your backups on Cryptosteel. Instead, the Bitcoin ETF will manage that for you. You own shares of the fund, which doesn't own any cryptocurrency either. Just like you have a gold ETF. You don't necessarily purchase gold bars. A Bitcoin ETF will enable almost everyone to have a share of Bitcoin in the near future. This catapults the use of Bitcoin as a medium of transaction and an asset.
Conclusion
Regulations for crypto will be far more stabilized in the coming years and possibily see the expansion of crypto as a legal asset. NFTs will also benefit from these changes. Do you feel there will be positive changes in the crypto space? Stay safe and happy trading!
SEC and the Crypto World: The Gavel Drops
Oct 29, 2023
In the month of October, we've seen huge turnover of events and skyrocketing price of Bitcoin! Twitter has been on fire for the past week, traders selling altcoins and purchasing Bitcoin, and so much more.
Some key events:
SEC dismiss its own case against Ripple Labs executives
Bitcoin top $35,000 for the first time since May 2022
BlackRock's spot Bitcoin ETF on Nasdaq
You will notice that taking Bitcoin out of any exchange now takes much longer time. Now, why was SEC not favorable towards crypto in general? Unfortunately due to the nature of crypto, many have used crypto to violate securities laws. The lack of regulation in cryptocurrency markets also plays a huge role. In a previous blog post, we discuss the SEC's involvement with crypto.
Ripple rippling effect
First off, what happened with Ripple? The SEC accused Ripple of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP. Though the sales of XRP on public exchanges were not unregistered securities offerings there was uproar in the court as many found it disturbing how the SEC wasn't further pursuing the matter more thoroughly.
Why is a Bitcoin ETF a big deal?
A Bitcoin ETF "enable everyday investors the chance to get into crypto through their normal brokerage accounts without having to buy and store the digital tokens themselves". So you don't need a Trezor or COLDCARD and have your backups on Cryptosteel. Instead, the Bitcoin ETF will manage that for you. You own shares of the fund, which doesn't own any cryptocurrency either. Just like you have a gold ETF. You don't necessarily purchase gold bars. A Bitcoin ETF will enable almost everyone to have a share of Bitcoin in the near future. This catapults the use of Bitcoin as a medium of transaction and an asset.
Conclusion
Regulations for crypto will be far more stabilized in the coming years and possibily see the expansion of crypto as a legal asset. NFTs will also benefit from these changes. Do you feel there will be positive changes in the crypto space? Stay safe and happy trading!
SEC and the Crypto World: The Gavel Drops
Oct 29, 2023
In the month of October, we've seen huge turnover of events and skyrocketing price of Bitcoin! Twitter has been on fire for the past week, traders selling altcoins and purchasing Bitcoin, and so much more.
Some key events:
SEC dismiss its own case against Ripple Labs executives
Bitcoin top $35,000 for the first time since May 2022
BlackRock's spot Bitcoin ETF on Nasdaq
You will notice that taking Bitcoin out of any exchange now takes much longer time. Now, why was SEC not favorable towards crypto in general? Unfortunately due to the nature of crypto, many have used crypto to violate securities laws. The lack of regulation in cryptocurrency markets also plays a huge role. In a previous blog post, we discuss the SEC's involvement with crypto.
Ripple rippling effect
First off, what happened with Ripple? The SEC accused Ripple of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP. Though the sales of XRP on public exchanges were not unregistered securities offerings there was uproar in the court as many found it disturbing how the SEC wasn't further pursuing the matter more thoroughly.
Why is a Bitcoin ETF a big deal?
A Bitcoin ETF "enable everyday investors the chance to get into crypto through their normal brokerage accounts without having to buy and store the digital tokens themselves". So you don't need a Trezor or COLDCARD and have your backups on Cryptosteel. Instead, the Bitcoin ETF will manage that for you. You own shares of the fund, which doesn't own any cryptocurrency either. Just like you have a gold ETF. You don't necessarily purchase gold bars. A Bitcoin ETF will enable almost everyone to have a share of Bitcoin in the near future. This catapults the use of Bitcoin as a medium of transaction and an asset.
Conclusion
Regulations for crypto will be far more stabilized in the coming years and possibily see the expansion of crypto as a legal asset. NFTs will also benefit from these changes. Do you feel there will be positive changes in the crypto space? Stay safe and happy trading!
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