The SEC missed FTX because it has no jurisdiction...
There have been several independent studies showing that many of the cryptocurrencies in existence are not securities.

I see!

You can transfer them, use them for payments, use them on certain networks, etc. in cash flow.

The majority of crypto assets are very different from this.

But the SEC didn't stop claiming they were all securities in hopes of getting the industry's sole regulator.

The reason for this, though not stated as such, is fairly obvious to most people out there...

Money!

Money received by government agencies from fines and penalties goes directly into their coffers. Given that some of the more nefarious projects are likely breaking various laws in one way or another, coupled with the amount of money flying around, it's a prime target.

More fines mean more money for agencies.

Source

As such, there is an enormous financial interest in the SEC gaining sole regulatory control over the industry.

But we need to remind people that the SEC has no jurisdiction over these because they are not securities.

Some studies have shown this, and some court decisions should also attest to this.
Congress needs to set rules to move cryptocurrencies forward, and regulators need to enforce those rules.
The current legislative expansion to include cryptocurrencies benefits no one but the SEC's wallet.

Binance FUD

You must be aware of as of now what is going on with everything in the crypto space with the biggest exchange Binance. Are you withdrawing your funds from Binance if you have them?
As I have read and am aware of, for Binance all the heavy withdrawals happening from the past time are nothing for them and are just like good regular business work. This builds trust ultimately.

SBF was arrested too!

Many things are going on in the space in response to the past few incidents and to be honest, this is more enjoyable than chilling on Netflix 🤣 Twitter files are also really great!
Check a video here: https://twitter.com/WatcherGuru/status/1602804835560181764?s=20&t=SE-nJzhAFGyn-q4AC_fEEA

Source

This man is living in a whole other world. Coming a lot into the limelight recently regarding his tweet about Coinbase.
Good to see drama, it is enjoyable.

HIVE is all well, great!

From the past few days, we did not receive any serious manipulation in the HIVE's price which is fantastic because the less the manipulation, the better for the ecosystem. Technically, Hive is still bounded in a range and is testing the upper and lower levels continuously. It is hard to predict which side we can have a breakout on because as of now the market is very confusing and ultimately bitcoin with all the other incidents shared about. Major moves are coming from the news side only and if you have read any of my previous posts then you must remember that the "news moves" do not sustain long enough.
Anyways, I would say to be completely patient right now due to such a great amount of uncertainty in the current market. it is never too late to lose your money.

Thanks for going through the post and I hope you must have attained value from it and also, later on, enjoyed it, I am glad if you did. Rest, this all is not financial advice but rather my thoughts being shared here and also just for entertainment purposes. Keep having fun and remember the world cup, LeoFinance is also an official sponsor of the Hivebuzz world cup contest therefore, keep supporting them and the community. Have an amazing rest of your day!
SANJAM

Posted Using LeoFinance ^Beta