Uh oh sec talking Bitcoin

[Walrus1]

https://www.coindesk.com/sec-cftc-chiefs-set-senate-crypto-hearing-next-week/

Hey, the sec is having a senate hearing about crypto, this can't be good. Btc did very well when the government wasn't watching

[CHENIEN]

Many people afraid on what government decision about bitcoin business, because only government can stop the total operations of all cryptocurrencies, and i hope it will not be happen, and i praying that governments can sympathize and support bitcoin operation for the good and benifits of their people.

[emuLOAD]

Bitcoin did really bad when the government wasn't watching, too.

I do realize there is a sizable portion of this forum's userbase who subscribes to absurd and extreme libertarian ideals, but let's be realistic, government regulation and oversight, when not excessive and applied properly is a good thing not a bad thing. The very nature of cryptocurrencies make them mostly censorship resistant, therefore we won't be witnessing a (succesful) blanket ban.

let's wait and see.

It most probably will be a good thing for the technology and ecosystem in the long run.

If it will not be, crypto will simply react.

[Walrus1]

Many people afraid on what government decision about bitcoin business, because only government can stop the total operations of all cryptocurrencies, and i hope it will not be happen, and i praying that governments can sympathize and support bitcoin operation for the good and benifits of their people.

there concern will be the economy at large at large along with the trading in Chicago, money laundering, taxes and other illegal activities. The do not care about our relatively small holdings of btc. The fed will never allow the people to control a currency. They also are monitoring crypto for the potential it may cause havoc if it is a burst bubble. If it were to burst now it would not hurt the economy. The stock market dropped 4% decent which represents billions disappearing, a few billion or trillion is no big deal for the us economy, but when you get into multiple of trillions, now it's money they will notice.

[jseverson]

They're actually taking on a pretty positive outlook on Bitcoin:

http://fliphodl.com/sec-cftc-reports-presented-tomorrow-super-bullish/

In his conclusion, the SEC Chairman Jay Clayton says:

“Through the years, technological innovations have improved our markets, including through increased competition, lower barriers to entry and decreased costs for market participants. Distributed ledger and other emerging technologies have the potential to further influence and improve the capital markets and the financial services industry. Businesses, especially smaller businesses without efficient access to traditional capital markets, can be aided by financial technology in raising capital to establish and finance their operations, thereby allowing them to be more competitive both domestically and globally. And these technological innovations can provide investors with new opportunities to offer support and capital to novel concepts and ideas.”

So much for people saying governments hate Bitcoin eh? I thought they'd be lukewarm at best, so this reaction completely shattered my expectations as well. The hearing might even spark a rally lol.

[Walrus1]

They're actually taking on a pretty positive outlook on Bitcoin:

http://fliphodl.com/sec-cftc-reports-presented-tomorrow-super-bullish/

In his conclusion, the SEC Chairman Jay Clayton says:

“Through the years, technological innovations have improved our markets, including through increased competition, lower barriers to entry and decreased costs for market participants. Distributed ledger and other emerging technologies have the potential to further influence and improve the capital markets and the financial services industry. Businesses, especially smaller businesses without efficient access to traditional capital markets, can be aided by financial technology in raising capital to establish and finance their operations, thereby allowing them to be more competitive both domestically and globally. And these technological innovations can provide investors with new opportunities to offer support and capital to novel concepts and ideas.”

So much for people saying governments hate Bitcoin eh? I thought they'd be lukewarm at best, so this reaction completely shattered my expectations as well. The hearing might even spark a rally lol.

yes they are talking about the technology, not the currency.

[barneystinson]

https://www.coindesk.com/sec-cftc-chiefs-set-senate-crypto-hearing-next-week/

Hey, the sec is having a senate hearing about crypto, this can't be good. Btc did very well when the government wasn't watching

News just came out earlier. The US wouldn't be banning bitcoin but rather regulating new exchanges to avoid the scams from the legit ones. I have readthat they are in full support of crypto and is leaning towards more regulation rules. This is a good start for btc again and after the news was released earlier today, btc is having an upward trend.