Background
Two months ago, I wrote about PND's being potentially illegal price manipulations because of the SEC determining some ICO's to be security offerings. You can find that here. There was a lot of blowback for that post, particularly in discussion groups on other social media channels.
New Information
Yesterday the SEC press release announced a new task force whose sole purpose seems to be to get a handle on crypto and the illegal things happening in the cryptosphere, including price manipulation like PND's.
What Does This Mean?
This is an indication that we will begin seeing the US government begin to crack down on those who are operating illegally. This is not the end of crypto, just the beginning of a cleaner crypto. We will have to see how it plays out, but it may cause some additional volatility as people try to figure out the long term ramifications of this coming crackdown
Crypto will never die, it will be the future standard
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That's my belief also :)
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it was inevitable
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unfortunately :/
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Many people in the crypto trading community fear the SEC's activity, but as a trader I welcome the SEC. This will result in a bigger market, and higher long term gains for BTC in the long run. In the meanwhile we will have to live with uncertainty and confusion - thats a reasonable tradeoff in my eyes for long term safety and security.
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I'm not too worried about it. Crypto is here to stay. It may get cleaned up, or there may be attempts at a cleanup but for any real traction, it will take an international task force and with patchwork laws, that's a difficult thing to create.
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Hey ashr!
This isn't the first time I read one of your articles here, and you are a quality content provider! Please keep it up, and I wish you a big success on steemit, and cryptos in general!
My respect!
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Thanks @hco, I appreciate your kind words and hope you enjoy my upcoming posts :)
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SEC approves crypto today:
https://goo.gl/bwm3XC
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Don't spam on my posts or I'll pay to have you perpetually downvoted.
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