GREAT NEWS | US SENATE, SEC BULLISH ON BITCOIN & CRYPTO!!!



morning evening what's up where we all are there we go with a little bit of good news for the space or quite a bit of good news I was up this morning around 10:00 a.m. watching over breakfast watching summit while I watched the whole thing actually it was about two hours virtual currencies then I went back to sleep because I was up all night virtual currency is the oversight role of the US Securities and Exchange Commission and the US Commodity Futures Trading Commission so there was a massive meeting this morning about two hours on cryptocurrency in the future of cryptocurrency and how the US will view education is important I've imagined from all of the federal agencies to buy or so they know so all these officials start around and they had a big discussion about how they will shrink cryptocurrency going forward I'll do a break I'll do a breakdown but someone did a much better breakdown and probably what I can do so I'm gonna tune tune us into this youtuber who did a breakdown crypto Bobby you guys can subscribe to his channel I'm already subscribe I've been a subscriber how what some of these things before some of his videos before he did a pretty good breakdown so I'm gonna turn I think is crypto Bobby hope you are having a great day great night wherever you're watching from today watch the c-span for basically the first time ever I was talking about virtual currencies for almost two solid hours today with the chairman of the CFTC and the chairman of the SEC the Securities and Exchange Commission or the Securities Exchange Commission excuse me and the commodities future Trading Commission the both chairmen were talking to Congress specifically about virtual currencies specifically about Bitcoin specifically about icos and distributed ledger blockchain technology for like I said the better part of two hours and while a lot of people would probably expect hey anytime you're talking to the government this is not going to be good I was pleasantly surprised with the overall thought process that a lot of the individuals within the government had the level of education that the chairman of the SEC and the CFTC brought to the tape here so I want to review my overall thought process on what everything was was said now the first thing that I will talk about here is the chairman of the CFTC chairman Giancarlo is is pretty positive crypto pretty positive Bitcoin and he throw a lot of jokes on Krypton Twitter that were going on basically became carbonation people are calling him chairman Satoshi Giancarlo after Kandra model on a a US Senate Banking Committee meeting and when he was speaking to Congress so literally Chairman Chuck Carla from the CFTC Carano which was probably one of the highlights of the meeting in my opinion one of the funnier parts of it but really overall I thought the level of education that the chairman of the CFTC actually had when he was discussing Bitcoin when he was discussing blockchain technology distributed ledger technology was much greater than I think most people would expect granted they've already put out a number of statements they've already done significant amounts of due diligence you may have read something you may have not read some of that but his understanding of break breakdown at Bitcoin virtual currencies crypto currencies was very measured very measured very intelligent and I really enjoyed everything he had to say not only did he not fall for some of the silly logic that a lot of people say as far as you know Bitcoin is bad but blockchain technology is good you literally said in the meeting you would not have blockchain technology without Bitcoin and you really can't differentiate blockchain technology from crypto currencies you can't really have one necessarily without the other which is kind of one of those stupid like I don't know anything but I think I'm an intellectual so I'm gonna say blockchain but not Bitcoin or something of that nature so I love the way that he addressed that but there were a lot of really positive points that he had spoken about as far as regulation and how they are looking to regulate but doing it in a thoughtful and approachable manner as to not stifle innovation and asked not take down the cryptocurrency market or the crypto market as a whole now one of the biggest aspects I think of this committee meeting from the from the point of the sec from John Clayton the chairman of the SEC was along the point of initial coin offerings or icos and the big thing there is say goodbye to the days of main crowd sale icos to us non-accredited investors if you live in the united states if you are not an accredited investor I do not think you are basically ever gonna see for quite some time unless there's some type of changes or things like that but basically kiss goodbye the participation in initial coin offerings through mainsail and bet you know through mainsail crowd sales like you saw back in the day where there would just be a website and you would throw some eath at that either companies are going to have to move specifically to only private sales to accredited investors or they're going to completely restrict us investors however the and that is really because the senator excuse me the chairman of the SEC John Clayton came out and said he has not seen the IC o—- he has not seen an initial coin offering that is not a security he basically called out anybody who's run an IC o—- to investors in the United States and said I believe that every single IC o—- that has come out is a security and if it has been sold to US investors or it has been sold to non-accredited US investors then it is essentially skirting securities laws and the big question there is okay so all these icos happened are they going to retro actively go after any of those companies that have held an ICO to non-accredited investors in the u.s. that is one question hopefully that does not happen sounds like they've provided the warning bell and you know the maybe the the clarity wasn't there yet so they won't retro actively go after anyone but again reiterating the point that the SEC has said that basically every a CEO they've seen is a security and if you are going to go after us and you better be smart about how you're doing it by smart private sales to accredited investors into institutions I would not expect if you are not an accredited investor which I am not but if you are not an accredited investor in the u.s. to be seeing access to main sale crowd sale type I SEOs anymore at this point in time unless there's some more regulatory clarity around that but that is something that I keep in mind as you look forward now one thing a couple of people have already commented I posted something about that on Twitter a couple of people comment commented okay well I'm just gonna use a VPN however I think that kyc know your customer know your client is going to be very important and most companies are going to require some level of kyc requirements whether it's sending your passport your driver's license whatever it might be and that the new VPN is going to be a forward Passport in my opinion if you don't have a foreign passport you're not an accredited investor you're basically going to be out of these opportunities initial coin offerings so that is something to keep in mind as well now I'll link up to some additional information from this Senate Congress hearing so that you can take a look if you didn't get a chance to watch it live at the leave c-span will record it there has reported but we publish that as well the audio was already published waiting for the video at this point in time but I would definitely recommend taking a look it's actually pretty informative and was beneficial for me to hear and to listen to what the individuals in government had to say there were some points that I thought were a little bit silly you know there's a lot of talk about how do we prevent basically how do we prevent mainstream investors from getting rapper agree how do we prevent money laundering how do we prevent government you know companies like or countries like Venezuela or North Korea or whoever from skirting government sanctions by creating these virtual currencies or Russia or whoever it might be so those are going to be continued talking points in my opinion you're gonna hear things about anti money money laundering you're going to hear continued emphasis on government sanctions and making sure that companies just our countries can't just pop up virtual currencies to skirt around us and then you're also gonna hear a lot about icos and then just Main Street investors and protecting them from Ponzi schemes and all this type of you know all these type of things in general but overall I am very positive after hearing the thoughts that the government or at least the chairman of the CFTC specifically and the chairman of the SEC John Clayton have had in regards to the crypto currency the virtual currency markets I think it is fantastic that the u.s. in my opinion is not taking the same approach that's something like that's something like China did where they just said hey we don't really fully understand this or we're trying to manipulate it or whatever it might be but basically hey we're gonna shut all this stuff down until we know what we can do and then we can totally control it they're not taking that approach which i think is massively beneficial because if they did that it would stifle the innovation in the United States anybody innovating in the United States developing a product would move abroad they would go somewhere else so the US will lose out on that level of innovation and also any investors or any active participants in the US would either have to stop investing or they would have to go somewhere else to do that so overall I'm pleased with the results of this with the results of the committee meeting in my opinion it's pretty bullish I know that overall the market itself is not doing great right now but when it comes down to it any specific fear that the u.s. is just gonna come down and take a hammer and beat the heck out of Bitcoin in the cryptocurrency markets I don't think that's gonna happen will we see potential action on initial coin offerings yes will we see people coming after celebrity endorsers or anything like that selling unregistered securities yet we'll probably see that but will there be a death blow to Bitcoin will there be a death blow to a lot of these other actual legitimate projects I don't think so so I remain positive and excited to see that develop in the near future if you are new to the channel by any chance my name is crypto Bobby I do daily videos on the subject of cryptocurrency as well as YouTube live script of happy hours I would love for you to hit that subscribe button to notify Bell if you're new to the channel if you've been here before I really do appreciate all your thoughts all your comments and all your continued support hit that like button to share this video thank you so much for your time crypto Bobby sent it now have a good one ace so there you have it guys I'm gonna drop a link there's a link below you can access that link to check out the be hearing you can access the hearing here so I'll drop a link and the video is right there you guys can check it out for yourselves and talk Aman talk among yourselves it was last word of somebody some youtuber huh talk among yourselves alright so yeah there that is good news coming from the sec man we needed that and bitcoin has done some rallying too because of that cuz we read where it I got like 68 earlier today and Bitcoin has been rallying a little bit because that's that's good so let's hope China follows suit off the back of what the US just did and make some changes in that that Bitcoin economy cryptocurrency economy earlier and career as well because those are the two biggest communities now with the u.s. embracing cryptocurrency let's hope they make some changes in that area and we can get back on track all right Chinese New Year starts in a few days about another week ends at the end of February so we still got a little period to go through before those guys come back to the drawing board the trading floors and whatever the case may be alright but yeah that's some good news some good news for the space Bitcoin is already rallying a little bit probably at a de 800,000 today later on tonight this evening so that's good okay links down below check it out for yourself guys talk to you later peace

7 thoughts on “GREAT NEWS | US SENATE, SEC BULLISH ON BITCOIN & CRYPTO!!!”

  1. Sow if I understand correctly if you are citizen of the US you can't participate ico unless you are a broker.but the other countries are allowed.it's that correct?

  2. I'm definitely not supportive of their regulations. it's not their currency, and it's not their decision to make. And they're deeming all these ICOs as "securities", which they're not. they're legally entangling people by forcing their definitions on these coins.

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