Bitcoin Just Tanked Below $10,000 After Sec Says Crypto Exchanges Must Register

[ahmadoo]

The SEC said in a statement Wednesday that online platforms trading digital assets that are considered securities need to register with the agency.
Bitcoin quickly fell 10 percent to below $10,000 amid the concerns about increased regulation.
"The SEC continues to draw a line in the sand between securities and non-securities but without going so far as to name names," said Spencer Bogart, partner at Blockchain Capital. But "of all crypto assets, bitcoin seems least likely to be deemed a security — by a long shot."

The largest cryptocurrency by market capitalization dropped nearly 10% on Coinbase in a sudden move after the SEC statement stoked fears that tightening regulation could restrict future trading. Bitcoin fell to near $9,500 but had recovered slightly to $9,969.
Experts expect a crack down and it will focus more on altcoins than btc. Bitcoin has a great fall around 50% from ath because of the news about regulation.
I think there will be a fall again because of the fear of these regulation..

[davis196]

All the crypto investors with clean money have nothing to worry about,when it comes to more regulations.
The people will "dirty" money and all those involved with money laundering schemes will most probably run away from the crypto markets.This will have some negative impact over cryptocurrency prices,but on the other hand, it`s good for the market.Cryptocurrencies will become more legit and trustworthy without all the dirty investors,who are trying to hide their identity.

[Wind_FURY]

Will this finally be THE year?

I am afraid that the FUD is becoming real and real everyday as more and more probes are being done by the SEC.

I believe it is time to start another campaign in the forum. Let's start encouraging everyone to use decentralized exchanges.

I shall begin the "BISQ, use it" movement now. Some of my posts will end with the following line regardless if the post is in or out of context.

Trading? BISQ, use it. https://bisq.network/

[First77]

Sec must have said Crypto Exchanges must register when Bitcoin went $1 to $100. How did Bitcoin remain unregulated for 9 years ?

[bizul]

Regulations will eventually break the cryptos market and only privacy altcoins will survive. One of the promising privacy cryptos with very active development is DoopOnion. The coin uses Tor to protect the identity of the users. The coin is still being airdropped publicly for free and it got to $20 ATH, imagine what will happen when the airdrop ends. Check the link in my signature to join the airdrop.
When privacy cryptos gain advantage and they are traded at decentralized exchanges like Bisq, regulations will have no merit