optimistic Archives -
Speaking as part of a testimony to the United States Senate Committee on Banking, Housing, and Urban Development, the chairman of the U.S. Securities and Exchange Commission Jay Clayton expressed optimism that the distributed ledger technology (DLT) sector will “facilitate capital formation.” Clayton also discussed the enforcement actions taken by the SEC in regulating initial coin offerings (ICOs).
SEC Chair Believes Crypto and DLT Will Generate Capital Formation
Jay Clayton stated that he is “optimistic” that the developing DLT sector will “facilitate capital formation” and provide “investment opportunities for both institutional and Main Street investors.”
The SEC chairman praised the commission’s regulatory apparatus pertaining to cryptocurrencies and DLT, describing it as a “balanced” approach that simultaneously “fosters innovation” and “protects investors.”
Clayton stated that the SEC has used a multitude of channels to convey its “message” to investors, citing the example of the SEC’s Howeycoins.com website. Of the site, Clayton said that the SEC “created a website to educate the public about frauds involving ICOs and just how easy it is for bad actors to engineer this type of fraud,” adding that the website attracted “over 100,000 people” within one week of being online.
Clayton Highlights SEC Oversight of ICO Sector
The SEC chair asserted that the commission has been “focusing a significant amount of attention and resources” to the oversight and regulation of cryptocurrencies and ICOs. Clayton emphasized the inter-division and inter-agency collaboration that the SEC has undertaken recently, highlighting the issuance of public statements regarding ICOs and virtual currencies.
Clayton stated that “while some market participants have engaged with our staff constructively and in good faith with questions about the application of our federal securities laws,” some companies have sought to “prey on investors’ excitement about cryptocurrencies and ICOs” and to engage in “fraud” or “other violations” of U.S. securities laws.
Clayton also highlighted the commission’s establishment of a cyber unit last year, stating that “In its first year, the Cyber Unit led investigations that resulted in several emergency actions to stop ongoing alleged frauds against retail investors that involved ICOs, as well as charges against a bitcoin-denominated platform and its operator for running an unregistered securities exchange and defrauding users of that exchange.”
Speaking on the cyber unit’s actions beyond ICOs, the SEC chair asserted that the unit’s enforcement actions led to the regulator returning $ 1.07 billion to investors during the 2017 financial year, and $ 794 during the 2018 financial year so far.
Do you think that the SEC’s regulatory approach is balanced? Share your thoughts in the comments section below!
Images courtesy of Shutterstock
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44 percent of those surveyed on crypto Twitter believe the price of bitcoin core (BTC) has a ways to go before finding bottom, while over half of Wall Street and institutional investors seem to believe BTC’s bottom has been reached. The poll was conducted by Fundstrat, comparing the views comprised of 25 Wall Street related institutions against those of 9,500 respondents on Twitter.
Fundstrat: Wall Street is Optimistic While the Ecosystem Remains Sour on BTC’s Price
Over the period of a week in late September of this year, Fundstrat conducted a poll between institutional or Wall Street investors and Twitter respondents, who might be considered the broader spectrum of crypto enthusiasts. While not particularly scientific in the strictest sense, and therefore can be interpreted a number of ways, it does provide some counter-intuitive data.
What jumps out to most keen observers of the space is the conclusion Wall Street is more optimistic about BTC prices than crypto Twitter. Fundstrat found 54 percent of Wall Street respondents were fairly sure the world’s most popular cryptocurrency has hit its price bottom. Crypto Twitter, however, over 9,000 strong, was decidedly less hopeful: only 44 percent felt BTC was at bottom, suggesting there might be a ways to go yet. And by the end of 2019, institutions were more likely to predict BTC hitting $ 15,000 (57%) compared to just 40% crypto Twitter’s respondents.
Central Banks and Emerging Markets Are Macro Factors Impacting Future of Crypto
25 institutions received ten questions, while Twitter got a version of those whittled down to just six, eliciting 9,500 responses. More obvious takeaways include how both genres polled agreed ‘macro factors’ impacting crypto going forward are central banks and emerging markets, which ranked 1 and 2 respectively. Institutions, however, view politics as having a greater impact compared to their crypto Twitter counterparts.
Alternative token ripple (XRP) made an appearance within the poll. Of more than a dozen choices offered, nearly six out of ten institutions chose BTC as their favorite. Crypto Twitter picked XRP as their favorite (46%). Curiously, though chosen as its preferred coin, 31 percent of Twitter believes XRP makes the “least sense” of any crypto. No institution chose XRP as their favorite.
Other findings of interest include how institutions polled were decidedly bullish on BTC’s price rising, with 57 percent believing it will be between at least $ 15,000 to “the moon” by next year’s end. And should the US economy fall to recession, only 59% of crypto Twitter believed cryptocurrency prices would rise, while institutions remain more optimistic with 72% answering crypto could very well increase in price during economic down times.
Are you optimistic about BTC’s price? Let us know in the comments below.
Images courtesy of Shutterstock, Fundstrat.
At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even look up the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.
The post Bitcoin Price: Wall Street Optimistic, Enthusiasts Pessimistic According to Fundstrat appeared first on Bitcoin News.
Ohio Dems optimistic, Republicans cite encouraging turnout numbers as polls close in pivotal special electionAugust 8, 2018 | dailybusinessnews
Polls have closed in several key state races, including a tightly contested Ohio special election widely seen as a referendum on President Trump and Republicans’ legislative agenda ahead of the midterm elections in November.
Solar panel tariffs threaten to increase customer cost and slow growth, but the industry remains optimisticJanuary 24, 2018 | dailybusinessnews
Fees on solar panel imports imposed this week by the Trump administration threaten to increase customer costs and cut solar energy growth by as much as 11% over the next five years, but the industry remains optimistic that the roadblock will be temporary.
The new tariffs probably will add about…
Trump turns optimistic during visit to Boeing plant in South Carolina: ‘I will never, ever disappoint you’February 17, 2017 | dailybusinessnews
Navajo tribe pressures Trump to save Arizona coal plant slated for closure Feb. 17, 2017, 12:21 p.m. A look at President Trump’s administration and the rest of Washington: Trump says he wants to bring back coal. This soon-to-be closed Arizona plant could be his first test The White House has explored…
L.A. Times – Business
When asked about their secret to aging, the world’s oldest people often bring up not sweating the small stuff . In fact, optimism is associated with greater personal happiness, but could it impart biological benefits as well? Researchers at the Harvard School of Public Health suggest it’s possible in a new…
EU Economy Commissioner Pierre Moscovici said Tuesday he is optimistic about concluding an overall deal on Greece's latest bailout programme by the end of the year including discussions on debt relief. Moscovici spoke just days before a key meeting of eurozone finance ministers on December 5 to discuss Greece's massive 86-billion-euro bailout, its third since 2010. "This is doable, feasible," Moscovici told journalists at the end of a two-day visit to Athens.
By Nichola Saminather SINGAPORE (Reuters) – Most Asian stock markets rose on Tuesday ahead of the U.S. presidential election, with investors optimistic but cautious over improving prospects for a win by Democrat Hillary Clinton. The Mexican peso, which strengthens as the perceived chances of an election victory by Republican Donald Trump fall, retained its strong gains from Monday. Boosting Clinton's chances of winning, and markets globally, was a statement by the U.S. Federal Bureau of Investigation on Sunday standing by its July finding that Clinton was not guilty of criminal wrongdoing in her use of a private email server.