Written by :
Published on :
Two separate agencies in the U.S. are planning a coupe. These organizations want to draft harsh measures that will guide the crypto markets. According to an article from the two agencies, all is not good.
Very soon, digital currency enthusiasts will not find it easy. Nobody is sure about how tough the rules will be. But the fact is that the rules will make altcoins trade even harder. One of the agencies is the Securities and Exchange Commission. The other is Commodity and Futures Commission. The two agencies collaborate to write a contribution. The document is in the Wall Street Journal. The aim is to show their readiness in initiating stricter measures. But the two agencies do not use the word ‘tougher’ rules. All they are saying is that they want to commit their respective commissions. Why? They answer by saying that they need to do more. They need to regulate the cryptos. The article says explicitly that both organizations are ready. They are setting aside enough resources. The money will fund projects that target digital markets.
At the same time, the article shows the organizations’ stand. They will remain firm in eradicating any fraudulent behavior. This article is a clear indicator that the times ahead are rough for any opportunists. The article is just one of the latest efforts of various governments. Different governments are working hard toward the taking control of digital currencies. Most importantly, this is not the first time the U.S. and various agencies are speaking. SEC is in the forefront to support any strict measures in the past. There is no doubt that it will continue to do so. Recently, Visa raises its voice in the matter. Considering that Visa is a payment method, as digital currencies, it is understandable. There may be a rivalry. Or, let’s say there may be competition. Through its CEO, Visa says in a recent world forum. The CEO announces that Visa does not recognize bitcoin as a means of payment. Advertisement; See the best casinos accepting altcoins at PlaySlots4RealMoney.com.
With these latest pronouncements, it is clear. It is not going to be easy. Nobody is happy about cryptocurrencies. To be precise, governments with their ‘legal tenders’ are not happy. The same is the case with state agencies. They are also showing their discontent to the digital currency market. The article explains what truly is in the ‘heart’ of the agencies.
“The SEC is devoting a significant portion of its resources to the ICO market … Market participants should also beware. They include lawyers, trading venues, and financial services firms. They should beware that it is disturbing. Yes, it is disturbing to have many examples of form being elevated over substance. As we do this, we are depriving many investors necessary protections,” the article says.
Both organizations say that the digital currency is a promotion, and trade of investment assets. They say that there is a distant underlying utility. Also, in recent weeks, CFTC involves itself in earlier legal action. Above all, this is against those that promote cryptocurrency schemes. All these show that agencies are unhappy with the performance of crypto markets.
