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SEC Is Going on ‘P2P’ Pilgrimage to Meet Crypto Entrepreneurs

  • Yuri Molchan
    📰 News

    📔✔️US regulator SEC reps are planning to go on a journey, hoping to meet entrepreneurs working in the crypto industry who would not contact them otherwise📛


SEC Is Going on ‘P2P’ Pilgrimage to Meet Crypto Entrepreneurs
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FinHub, the branch of the SEC which communicates with fintech startups, intends to go on a tour, visiting main US cities and setting up meetings with regular crypto users and reps of blockchain businesses to answer their questions about the regulatory norms for the digital token industry, or receive feedback regarding token emittance approval by the financial regulator.

Hit the road, SEC! Hit the road!

This trip was announced the other day on the site of the SEC. It is to start in late March in San Francisco at the local office of the regulator. The next destination will be Denver.


Answering questions seems to be the only thing the FinHub reps are allowed to do. No legal advice will be provided, as per Valerie Szczepanik, the SEC’s chief advisor in the sphere of innovation and virtual assets. She is also the head of the Corporate Finance division. This person in particular will be present at the SEC meeting in San Francisco.

Self-reporting to the watchdog is the key

In the past, several crypto startups, when accused of offering unregistered securities, managed to settle these issues with the SEC by cooperating with the regulator, without admitting or denying the accusations, though.

The two examples of this are the Gladius Network LLC and CoinAlpha firms. Thus, only light punishing measures were imposed on them.

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SEC’s ‘P2P’ crypto tour

The announced goal of these meetings, which are referred to as “Local P2P” on the FinHub website, is to start seeming more human to crypto startups.

The SEC, as per Szczepanik, indeed wants to support companies that work in the innovative blockchain and crypto sphere and wants fintech businessmen to think that dealing with the regulator can be a positive thing to do.

Media reports have it that quite a large number of crypto firms have applied to the SEC to get their token offerings reviewed. The exact number of these startups remains unclear. Many of their reps, however, will be there at the San Francisco meeting on March 26.

In particular, some of those future attendees will be talking to the SEC about launching crypto ETFs (exchange-traded funds).

Cover image via u.today
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Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader


Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader
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It’s been over two weeks since Bitcoin’s astronomical surge on Apr. 2, but new theories about what might have caused this bullish uptick continue to pop up. According to crypto-oriented analytical firm CoinMetrics, that epic surge was causes by a single trader.

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Mammoth-size trades

CoinMetrics claims that ‘a single committed trader’ concocted a plan to push the BTC price, and he successfully managed to do that by picking the time of the day when the global liquidity is at its lowest level.


(Source: CoinMetrics.io)

(Source: CoinMetrics.io)  

The report also suggests that the trader started to execute his plan on HitBTC (500,000 USDT were traded for Bitcoin prior to the price movement). After that, large trades were observed on Coinbase and Bitfinex.      

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Focusing on the future

Meanwhile, as reported by U.Today, another theory states that the rapid price surge was triggered by the expiration of the CME futures contracts and heavy spot and over-the-counter buying. One expert went as far as claiming that a simple April joke about the Securities Exchange Commission (SEC) could do the trick.

While no one is quite sure about what could have triggered the short-living rally, there is even a bigger disconnect when it comes to Bitcoin price predictions. While some share their bullish predictions for 2019, another report states that it could take 22 years for Bitcoin in order to match its current ATH of $20,000.

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