96 of the top 100 cryptocurrencies are down at the moment because of the news today from the US SEC (Security and Exchange Commission). The SEC issued an announcement to "to caution the industry and market participants: the federal securities laws apply to those who offer and sell securities in the United States, regardless whether the issuing entity is a traditional company or a decentralized autonomous organization, regardless whether those securities are purchased using U.S. dollars or virtual currencies, and regardless whether they are distributed in certificated form or through distributed ledger technology."
Basically this means that the SEC is now going to treat and attempt to regulate cryprocurrency markets like stock markets.
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