The US SEC/CFTC Crypto meeting - quick takeaways.

(Hello, this is my first post. I will be posting mostly for practice until I develop an idea of what I want to write about. )

This morning I watched a stream of the SEC (Securities and Exchange Commission) and CFTC (Commodity Futures Trading Commission) meeting on the topic of cryptocurrency. Here are my quick takeaways:

• The involved parties, for the most part, are still initiating themselves into the world of cryptocurrency. They are playing catch-up with knowledge about these particular markets.

• Overall, many believe cryptocurrency is the future, comparing early adoption to that of cell phones and other technology.

• Banning cryptocurrency does NOT seem to be in the cards for the USA. In fact, there was a tone of embracing it carried through the skepticism.

• Many Senators including Elizabeth Warren expressed strong opinions about protecting Americans from scammers. It sounds to me like tighter regulations around ICOs are coming but will precede any changes on the consumer's end.

• Discourse seemed more focused on volatility than on the recent drop, and the volatility was rationalized as typical of new technology.

The market has continued to drop since the live stream of the committee meeting took place. However, the results of the discussion seem to bode well for the future.

I wish everyone luck with their investments, and have a nice day!
KW