Ninjas, I have some important information for you concerning developments within the Crypto Market.
We all know that it is attracting attention, evolving every day, and becoming a threat to current mainstream financial industry as we watch those "old world" players eat humble pie and start assembling their own "Blockchains" and "Tokenizations" schemes.
Throughout all the countries in the world exists a vibrant diversity in terms of Crypto regulation. Looking across all the nations we see very clearly that there is no global consensus as to how Crypto should be regulated.
The Regulatory Role of the United States
Within the S.E.C exist various "Divisions" which oversee specific aspects of the agency's operations. Of particular importance to the Crypto economy is the Division of Corporate Finance. This is the part of the SEC that deals with interpreting and creating guidelines for the development of rules concerning how companies issue securities.
Yesterday the SEC announced what is essentially a new position within the Division of Corporate Finance. Valerie Szczepanik has been named both an Associate Director of the Division, as well as a Senior Advisor for a new focus within the division: Digital Assets and Innovation
Ms. Szczepanik will coordinate efforts across all SEC Divisions and Offices regarding the application of U.S. securities laws to emerging digital asset technologies and innovations, including Initial Coin Offerings and cryptocurrencies.
The important part here is the distinction between ICOs and Cryptocurrencies. Previously we have seen the SEC and various state legal commissioners come after specific aspects of the Crypto market, but mostly attempting to prevent ICO scams, or to interpretation of ICO as security issuance. Yet a "currency" is not a security if it is not the tokenization of some group or "block chain as service" that seeks to make returns for a service.
With the clear division of both focusing on ICO and Cryuptocurrencies we see that they are beginning to put the more abstract and untamed "currencies" under the radar as well.
A Bit About Your New Crypto Czar
Valerie Has been with the agency 20 + years and let us remember that she is not a professional trader or even a financial accountant but she is a Lawyer. He job prior has been focused on enforcement. This is bull signal clear as day, perhaps not for your specific coin but for the whole market in general.
Crypto is not a well established and running system used by billions of people across the globe yet. To see regulation come in at this stage of the game is not the same as if some established industry were going to be regulated.
No... This is a sign of increasing Trust in the Crypto Markets.
Not everyone is as skilled as the Ninja and able to enter into the unknown and unregulated realm and deliver the goods. There are billions of dollars worth of value within the financial accounts of everyday people (mostly managed in the hands of retirement fund and retail investment accounts) waiting to get into crypto even if they don't know it. Their account manager will soon.
Valerie so far has shown herself to be open minded to Crypto and is not seeking to implement rules that stifle growth and development. She claims wanting to help protect the consumer and weed out clear fraud. Maybe she has some investments in Crypto she is trying to moon! Is this a new level of insider trading?
Just kidding.
The Ninja team will be actively following the development of the regulatory environment within the US, so stay tuned.
If you are interested, the Practicing Law Institute is hosting a live stream on June 18th which will feature Valerie and deal with the topic of lawyers counseling their ICO endeavoring clients.
HDP "Sensei" - Altcoin Ninjas