Should you take a look at Polymath?

Put away your "BTC $10K" hats for now. After three weeks of rallying, BTC and most cryptos have taken a breather. Broad selling is dampening spirits after many enthusiasts had started to feel giddy again. Time will tell if this is a pullback or the beginning of another leg lower in the brutal bear market of 2018. Probably, it is some investors scared of SEC's meeting on Ethereum today (we posted about it yesterday).

One coin we are starting to watch more closely is Polymath (POLY), now the 97th Top Coin in the world with a market cap of $185 million. Many of the current tokens on the popular exchanges are categorized and treated as Utility Tokens (basically software licenses). Polymath makes it easier for any company in the world to issue and trade Security Tokens by partnering with legal delegates, KYC (Know Your Customer) providers, accounts, lawyers, and other vendors to be fully compliant with local laws in the jurisdiction you are issuing the security.

We think it's fair to say that ICOs are under a tremendous amount of regulatory scrutiny at the moment. The push now is to have all coins and tokens, more or less, be listed as securities. That's where POLY comes in. According to Coin Central:

"Polymath simplifies the legal process of creating and selling security tokens. It makes a new token standard, the ST20, and enforces government compliance."

Sounds pretty sweet. One of the hold ups for security tokens is that no exchange is approved to trade them; tZero (backed by Overstock.com) is expected to gain approval this year but there is no clarity as to when. If tZero is approved, Polymath could explode. And we think the 64% gain this week gives you an indication what the market expects. We do not own POLY yet, although we are starting to wonder why that's the case. 

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