@bozz had mentioned some news about Ethereum in one of my post. So obviously I had to dig into his comment. What I found was a major victory for the crypto industry. The U.S. Securities and Exchange Commission (SEC) has closed its investigation into Ethereum 2.0.
The significance of the SEC's decision is a huge win for the crypto industry. The fact that the SEC will not bring charges alleging that Ethereum 2.0's sales are securities could be setting some legal precedent that favors industry. It also notes recent shifts in the Biden administration's stance on crypto. It sure feels like we could be seeing a softer approach towards the industry. The SEC now faces some real challenges in pursuing Ethereum as a security after approving its spot ETF, effectively classifying it as a commodity. This marks the first time a Wells Notice issued to a crypto entity has been withdrawn, possibly signaling a more lenient regulatory environment as this year's election approaches.
I would like to see the Biden administration take a softer approach as I also have thought they would be larger supports vs. their republican counterparts. However, it seems that has not been the case. I actually don't think it is Biden himself against the space. It's more people like Gary Geinsler and the SEC who are the real issue. I once had high hopes for the SEC, but that was thrown out the window during the last bear cycle. I was expecting some common sense co developed regulations to materialize, but those dreams were dashed. I'm hoping over the next 24 months the regulatory landscape clears itself up a but because markets don't like uncertainty.
Maybe that is why the price of ETH has not moved too much!
We will have to wait and see what the real impact of the positive news is.
This is good news for the whole world
I think so I wish it had more positive price impacts.
Good
Like some other folks have said, my fear is that this is just a political thing and should Biden win the election it's going to be back to the same old same old. I hope not, but who knows...
Interesting I could see a lot of things being said to win votes. I hope that's not the case but only time will tell!
For sure! My hope is, even if it does happen, the crypto lobby is big enough now to still guide things along for us.
I hope regulations gets cleared up but I am skeptical about the SEC being more lenient. Maybe they just thought that the chances weren't too high and ETH ETFs are in the works. So in a way, they might just consider ETH as not an issue.
Same it seem like they took the L on this one, but it has not helped the price action recently.
The US gov't having a softer approach with ETH and hopefully crypto in general is a huge step to other countries following suit or at least considering their regulatory approaches.
This progressive move is exciting news for everyone holding on the the decentralized vision!
I hope so as I think stocks and bonds might take a hit. The real economy is hurting but it's not reflected in stocks and bonds at the moment.
Exellent News! sadly the current market trend is not letting this news flourish and money flow into Ethereum, but we will see it's effect in the coming time.
The trend is bleak and I'm a little worried about Hive. it seems deserted and the price drop has some worried. I really want to see a turn around soon. In the mean time I'll keep posting and stacking.
Call me a conspiracy nut case, but does it seem coincidental that China kicks out all of their BTC miners not long before they start selling off US Bonds and to likely not invest so heavily in them going forward. Due to the Chinese and US economies being so symbiotic it may be a life line given by China to the US. Something like don't go under because we need you to buy our products still but don't expect us to buy your bonds anymore, so why not take over crypto. You have the biggest bag on earth thanks to Ross.
I think we are in for a shake up soon. It seems like stock are hyper consolidated and Ive been waiting on a pullback that has not really happen. I find it hard to stay solvent in my bearish accounts.
Yeah just sold off some ETH for a purchase and it makes me nervous sitting on fiat while the deal is being finalized. :)
Hay dry powder is always good to make news buys.
Yeah offered the guy to pay in ETH yet he's a fiat kind of guy. Nice guy though.
I have always knew that the investigation will definitely need to be dropped because the truth of the matter is it can not continue
This is really a very massive great news for the world
I thought so we could use some wins.