Will the SEC Rule Ethereum is a Security? Time to Panic?
On May 7th, the SEC are expected to announce their decision about whether or not Ethereum is to be considered a security.
In this video, I wanted to share my own personal prediction about what we should expect the outcome of that announcement to be.
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
Wall St. is already invested into the crypto space and ETH, so I'm sure the right palms have already been greased at the SEC.
Aaaaah, such a nice landscape! :D I want to do some tourism there.
I think you said before that Ethereum will be switching to PoS (is that true?). I've also heard that Steem is going back to PoW soon. Is lobbying a thing in England too?
I think that overall all the movements will tend to favour cryptocurrencies because of the power of the big investors. I'm always eager to see legal activity regarding cryptocurrencies because that can only give them validity. All of these regulations serve as "backing", like the gold standard, and help to convince people that cryptocurrencies can only grow from here.
Thanks for the outdoors video! :D I want to travel a bit. We'll see later how it all turns out to go.
Yes to both questions! The eventual switch to POS adds another layer of complexity to this issue. It's probably fair to say that POW resembles securities to a lesser degree than POS. And yup! Lobbying is a big problem on the national level and within the EU too. Hopefully we can benefit from this kind of lobbying for a change though :)
eth is not a security
Regarding the SEC decision, I think they will not provide a clear decision as it has major implications for regulation. Thus, they will probably delay their ultimate decision by saying that it is not a security but needs to be regulated thus leaving an overhang as the framework for regulation is created. Given that it is the primary vehicle for capital raises, they will want to keep it under its jurisdiction vs an CFTC which have more flexibile requirements.
Let's hope that news will be good, as most of my holdings are in ETH.
I know that you're a big Ethereum fan, but would you suggest moving a little bit of money from Ethereum to something else?
My opinion is that it has great future, but I don't know if it has ability to surpass Bitcoin in the near future.
This is going to be a really hard case to crack, since as you say on the video, the 2 sides offer sound arguments... If good news comes out of this, then Eth will continue on the amazing rally it has been in the past few weeks but if bad news comes out of this we could see a price going back to 500$ or even less... crossing fingers for a positive outcome since this affects us all.
This will be a very important decision, for now ETH is growing quite a lot. Although the SEC can say it is not a security, ETH platform has shown us that it has a good use with ERC20 tokens and his decentralization.
Sometimes governments tend to censor or make illegal what takes away control over their citizens or over what they can not collect taxes. I think the price will go down a bit for the fud.
Two decisions could happen. One with downside where all crypto could end up under selling pressure or upside where institutional companies could finaly get on crypto board. Let’s hope it’s the good news!
I will agree with you @louisthomas
All those 3 fasctorsyoumentioned plus the fact that ...yeah it was a different thing when it was as an ICO and a different thing fromthe end of the ICO proccess till today.
Eventually they (governments) would become a bit more strict.I guess it is that moment?ILet's wait a few more hours to find out.
Lots of people have heavily invested in ETH and willbe anxious...
It is really bad news if the market gets crashed because if SEC it might ruin the motive.
Eth is doing good but I don't know what is going to happen. I have been hearing about the discussion, but let's jut hope everything good happens.