The Securities and Exchange Commision has decided to probe further into digital assets or more commonly know as cryptocurrencies. SEC has revealed their agenda that includes the important factors on which they will focus their resources and attention on, and cryptocurrencies have made it to the list.
There is a lot of good news waiting for cryptocurrencies come 2019, some of which include, the Token Taxonomy Act, a bill that redefines “digital assets”. Although this new bill is yet to be passed and approved, things certainly seem bright for the upcoming year.
With SEC’s chairman, Jay Clayton’s silence about XRP and a few other cryptocurrencies this news comes as a boon. Moreover, the Token Taxonomy bill might clear the much-needed clarification around the second largest cryptocurrency, XRP and might finally be listed on important exchanges that were holding back due to regulatory ambiguity.
In addition to the aforementioned bill and SEC’s new announcement, the crypto-community hopes that there might be an actual chance for the approval of Bitcoin ETF.
The press release by SEC stated:
“Office of Compliance Inspections and Examinations (OCIE) publishes its exam priorities annually to promote transparency of its examination program and provide insights into the areas it believes present potentially heightened risk to investors or the integrity of the U.S. capital markets.
It further stated
“This year, particular emphasis will be on digital assets, cybersecurity, and matters of importance to retail investors, including fees, expenses, and conflicts of interest.”
Apart from the above, NYSE’s parent company, ICE’s Bakkt, which is scheduled to be launched on January 24, could also move forward without any friction caused by regulatory bodies.
Cumulatively, the year 2019 could be the year that brings all the heavy-lifters like the financial institutions or banks into mainstream cryptocurrency adoption.
Thinking Crypto commented:
“Please provide more clarity for the crypto market and also approve the Van Eck and CBOE Bitcoin ETFs, dont let the US get left behind in the crypto and blockchain tech boom”
Crypt O commented:
“Man you guys might wanna slow down before you break the sound barrier or something.”
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