Good News, Ethereum Is Not a Security Nor Is Bitcoin. Markets React Positively
June 14th, 2018
The United States Securities Exchange Commission ruled that both Ethereum and Bitcoin are not securities. We all knew this but the government has now agreed. There will be no back lash now for those two crypto currencies. The market reacted positively with all greens!
On a second note, investigations are indicating that last fall/winter (2017) that Bitcoin and the crypto currency market may have been manipulated by both Tether and Bitfinex. Investigations are ongoing to see if the December 2017 run up in cryptos was orchestrated by these two related companies. If this is true, it will not fare well for the executives of these companies.
Both the SEC and the CFTC are very serious about keeping crypto currencies/tokens a legitimate industry. Positive regulation and scrutiny can only boost and help cryptos.
image from: altcoinbuzz.io
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This is great news!
Yes, this news can only help the market. I also take this news as government supporting this technology
When someone says that they something is not a 'securities' is'nt that just a fancy way to say that it is backed by nothing?
Not necessarily. It deals more with legal definitions and regulations. This ruling will help developers and the crypto industry know where they stand as far as laws and guidelines. I take it as good news because it clarifies direction to head for Bitcoin. Ethereum and similar cryptos
I guess I did not think about it like that...thanks!
When the executives of Bitfinex also run their own "stable" coin that's a recipe for disaster. Basically the federal reserve of crypto. It was supposed to be backed 1:1 to USD. Probably why they aren't complying with the SEC. They don't have the funds to match the amount they created in tokens. The Bitfinex/USDT executives are probably basking in the glow of hookers and cocaine.
There is no way they have dollar for dollar with Tether. I would not want to be in their shoes. I keep my life simple and have always lived within my means.