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United States SEC is leading worldwide in cryptocurrency regulation, says SEC’s Senior Advisor




United States SEC is leading worldwide in cryptocurrency regulation, says SEC's Senior Advisor
Source: Unsplash

During the TechCrunch conference, Disrupt, John Biggs, a writer at TechCrunch and Valerie A. Szczepanik, the Senior Advisor for Digital Assets and Innovation at the SEC spoke about the United States position in terms of cryptocurrency regulation.

The host of the discussion, John Biggs, questioned Valerie on whether the United States is catching up to the worldwide regulation and if the SEC is leading in this position.

Valerie said the US Securities and Exchange Commission [SEC] is leading in terms of cryptocurrency regulation. She said that the even though the SEC brought a series of enforcement cases, they were enforced in a very impactful and deliberative way in cases which they considered that they were sending a message or stopping fraud.

She continued to say:

“We are actively engaging with entrepreneurs and practitioners through these meeting in a way that we’ve never seen before at the commission, it’s really an open door policy.”

The Senior Advisor of Digital Assets stated that the SEC is collaborating with different regulatory and law enforcement partners in the country and outside as well for matters concerning the cryptocurrency space. Valerie said:

“… and I think each jurisdiction has its own regime to deal with and its own laws to deal with and some jurisdictions are more discreet or they have one financial regulator for the entire ball of wax. Thats not the case in the United States.”

Valerie further added that in the United States, there are many financial regulators which the SEC deals with. She said that if she considers that the SEC is leading “the pack” [cryptocurrency regulation worldwide] and that other countries are looking into what the SEC is doing and vice versa in order to share knowledge. According to her, the SEC is trying to address the global issues and other issues in a “responsible way”.

She also spoke about whether it is a good idea to run an Initial Coin Offering [ICO] in the United States as a US company. Valerie said that a compliant way of raising money exists and that there are companies which approach the SEC to conduct an ICO.

These companies conduct an ICO by doing a registration statement or conduct an ICO pursuant to some valid exemption from the registration or in a way that their issuance is not a security. She said:

“The framework that we have in place has a lot of nuances and a lot and every ICO is really a facts and circumstances based kind of analysis under the securities laws. So I would encourage those people who were who are considering using an ICO to raise money to see competent securities counsel, or at least come and talk to the SEC”

Please Note: The statements made by Valerie A. Szczepanik, the Senior Advisor for Digital Assets and Innovation, represent her idea and does not necessarily her colleagues or any Commissioner.

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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

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1 Comment

1 Comment

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    September 8, 2018 at 2:06 PM

    I don’t actually see the US doing anything at productive with crypto. There are plenty other countries, that are actually creating needed laws. Old money in the US does not like the idea of wealth that comes in such a manner as crytpo.

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Ethereum [ETH] might have caught a break from bears due to formation of ‘Golden Cross’




Ethereum [ETH] might have caught a break from bears due to formation of 'Golden Cross'
Source: Unsplash

Ether, more commonly known as Ethereum, is the world’s second largest cryptocurrency and it might have turned bullish due to the initiation of the ‘Golden Cross’ in the daily chart. Golden Cross, is when the 50-day simple moving average crosses above the 200-day simple moving average, which indicates that the price has turned bullish and that the cryptocurrency has bottomed.

Source: TradingView

Historically, Ethereum’s last Golden Cross took place in February 2017, when the price of ETH was ~$10; the price after this cross was bumped to $1,600, which was a meteoric rise of 15,000%. As bullish as this sounds, this might not be the good news that the crypto community is hoping for, as the ‘Golden Cross’ isn’t absolute and there are times when the crossover could be a fakeout. Crossover fakeouts had occurred for Bitcoin in 2014.

The weekly chart for Ethereum has been consistently forming higher highs since 2019, which is a bullish indication. The MACD indicator and the RSI indicators are both indicating a steady rise since 2019.

All aboard the ‘Speculation Train’

If another meteoric rise is to be expected from the crypto ecosystem, the price has to undergo a parabolic rise. The price of Ethereum at press time was $174 and had a market cap of $18 billion; assuming approximately 10,000% increase [instead of the 15,000% rise], the price of Ethereum would reach approximately $8,000 by March 2020.

A Reddit user @alkalinegs commented:

“if you look at the last golden cross early 2017 it took a few days till something happend. death cross 2018 even resulted in a bulltrap. -> dont expect an immediate reaction.”

Quite a few people use the exponential moving averages and disagree with the use of Simple Moving Averages, which is opinionated. Another Reddit user, @DeliciousPayDay commented:

“I strongly disagree. SMA 200 is more important and everyone in crypto looks at it. After breaking the 200MA at $151 ETH went straight to $180 before being sold off, and bounced directly off the 200MA the next day turning resistance into support. The 50/200 golden cross just happened on the SMA and the last time that happened ETH went from $12 to $1400.”

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