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SEC plans to regulate cruptocurrencies  

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Riley
Active Member
Joined:3 years  ago
Posts: 14
14/04/2018 4:54 am  

https://www.investopedia.com/news/how-sec-regs-will-change-cryptocurrency-markets/

I for one am completely against it. That article makes it seem like regulations are a good thing, but if we were to give the government control over cryptocurrency, how does it differ from any other currency? It might even stop being universal.


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admin
Member Admin
Joined:3 years  ago
Posts: 79
16/04/2018 3:41 pm  

Riley, 

I think you'll find that the key issue is that many cryptocurrencies are not seen as being 'currencies' by the SEC, so your worries are a bit unfounded. This is important because regulatory bodies like the US SEC are concerned that many 'coins' or 'tokens' were in fact being sold as or represented in form as being cryptocurrencies but are in fact just unregistered securities or other offerings which have previously been regulated - meaning the only reason they're being portrayed as cryptocurrencies is to skirt the well-founded regulations around such offerings. These basic regulations are designed to protect unwitting investors from malicious market participants and as the collapse of schemes like Bitconnect have already shown - this is a worthwhile cause. 


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