It was a big day for bitcoin today (7th Feb 2018).
From yesterday's SEC and CFTC meeting, it was evident and recognized that economists and technologists need to understand crypto and market dynamics better.
They recognized the potential of distributed ledgers and Blockchain tech. Like I've always said, Blockchain is not a problem and is here to stay as the innovation of our times.
They said ICOs are almost always securities.
I said in a recent post that bitcoin didn't seem to be ready for the world and the world wasn't ready for bitcoin. They questioned whether bitcoin had arrived too early. And I think it hasn't, it's just the world needs to catch up with technology that isn't waiting for no one.
They want people to be aware of crypto products...and yes you should...lots of crap out there made by greedy people with who don't care about you.
They recognized that regulations at state level was messy. They may look at a federation solution. So we will probably see more clarification when it comes to regulations...a good thing as it will get rid of a lot confusion, increase confidence of investors, and prevent a lot of the ponzies.
They also thought there wasn't any systematic risk from crypto. They saw the market cap as a tiny fraction of the global economy. This is very positive and kind of a green light from them.
Basically Cryptocurrency and Blockchain is here to stay. Regulations will get clearer and education of the cryptocurrency space is needed.
So be patient and wait, you will get reward very soon.
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