SEC calls Algorand a security - thoughts?

[Yaunfitda]

I'm not surprised though, SEC has been on the offensive lately and even after Coinbase and other exchanges.

It's that they are stepping it right now and it looks like they are hiding on the notion that they want to protect their consumers. Nevertheless, not the first time that we will hear this kind of statement from them, the question is who is next?

As far as holding Algorand, hard to say right now, but it's better if the OP can wait a bit before deciding to sell it off.

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[JamesDaniel90]

Algorand is falling today as expected but will just hold for now.

If we go back down to the December low then I will buy more.

I think they will be ok , just needs to get through this period.

[doomloop]

Algorand is falling today as expected but will just hold for now.

If we go back down to the December low then I will buy more.

I think they will be ok , just needs to get through this period.

That's right buddy. You shouldn't panic because even me I do believe that Algorand is one of those great projects. The fall can only be temporary and it's due to the panic of some weak Algorand investors after hearing this news but they will regret it later on and will try to go back especially when they see that the price of Algorand is increasing again.

Even if we are not in December where the price at its lowest, you can still do a DCA if you believe on the future potential of this project, the same with what you are doing with your Bitcoin and other top coin investments. Waiting for the bottom can only be a waste of time as it may not happen again.

[inanilujimi]

You have made the right decision, but my advice is to keep an eye on developments that continue to occur, it's better for us to admit a small loss than to bear a big loss.

[theskillzdatklls]

Gensler was shilling Algorand when it was $100 and it is now $5. He should go to prison for shilling an unregistered security that he listed as an unregistered security by his own logic.

[woez]

My thinking is SEC can attack and call any cryptocurrency as a security but they don't have full rights to do it successfully.

I think may be, While this news may have implications for how Algorand is sold and traded, I think it is important here to consider the reasons underlying this classification and the potential long-term impact on the project. Regarding the Classification of tokens, the SEC as a security is based on a number of factors, including how the tokens are sold and marketed to investors. I think this Classification could have implications for how tokens are traded and sold, and may require additional regulatory compliance measures.

[bitcoin-shark]

SEC Chair Gary Gensler recently referred to Algorand's coin ALGO as a security, despite having praised it in the past. This has caused controversy and led to a lawsuit against crypto exchange Bittrex. Some have criticized Gensler's comments and called for his removal from the SEC

[Silberman]

Gensler was shilling Algorand when it was $100 and it is now $5. He should go to prison for shilling an unregistered security that he listed as an unregistered security by his own logic.

While true at the same time we know that the laws are not applied fairly, he is someone powerful and as such even if anyone can see that what he did was wrong I doubt he will ever face consequences for his actions, which shows once again how ridiculous are the regulations of the governments as they want everyone to follow the rules, but they give all kind of excuses when it comes the time for them to abide by the very same rules.

[JayTrain]

The recent news about the SEC's claim that Algorand may be a security is certainly cause for concern among investors, as it raises questions about the regulatory environment and potential legal risks associated with holding the token. However, it's important to approach this news with caution and avoid making impulsive decisions based on fear or panic.
While the SEC's claim is certainly significant, it's worth noting that the situation is still developing and there are many unknowns at this time. It's possible that the claim could be resolved in Algorand's favor, or that it could have a relatively minor impact on the token's value and growth potential.

[el kaka22]

SEC basically considers everything that has a "owner" that sells these as a security. Meaning xrp is a security, algo is a security and there are plenty tokens that is security that they just didn't bother checking but 90% of token world is a security. Why do they consider such a thing? Because if there is a project dev at the top that sold you these coins or tokens, that is instantly security, that is what security means.

Bitcoin is not like that for example, nobody made bitcoin and sold it to you, well miners do but not created the idea of bitcoin, just mined it. Same goes for eth, or ltc, for example the biggest misunderstanding is that BNB is also a security, but not directly just yet. So all in all, a correct decision by SEC.

[southerngentuk]

The SEC classification of Algo as a security could potentially have significant implications for the project and its investors. However, it is important to note that this is not a final determination and Algo has the opportunity to present its case to the SEC. It is difficult to predict how the market will react to this news, but it is not uncommon for cryptocurrencies to experience price fluctuations in response to regulatory developments. It is always wise to exercise caution and do your own research before making any investment decisions.

[Weezenhofnar]

The SEC labeling Algorand as a security doesn't necessarily mean it's a negative thing, but it does mean that it will be subject to more regulatory scrutiny. It's important for projects to ensure they are compliant with securities laws to avoid potential legal consequences.

[Silberman]

SEC basically considers everything that has a "owner" that sells these as a security. Meaning xrp is a security, algo is a security and there are plenty tokens that is security that they just didn't bother checking but 90% of token world is a security. Why do they consider such a thing? Because if there is a project dev at the top that sold you these coins or tokens, that is instantly security, that is what security means.

Bitcoin is not like that for example, nobody made bitcoin and sold it to you, well miners do but not created the idea of bitcoin, just mined it. Same goes for eth, or ltc, for example the biggest misunderstanding is that BNB is also a security, but not directly just yet. So all in all, a correct decision by SEC.

This is a good and simple explanation, when it comes to bitcoin there was never a presale or any kind of ico or its many different flavors, Satoshi created bitcoin and then he let people to participate if they wanted or not, and while there are some estimates that give Satoshi a huge number of coins, those were not kept by himself or anything like that, he got those coins when on the early days he was the only one securing the network and as such under the rules of bitcoin he is the legitimate owner of those coins.

[killerfrost]

I am wondering if the SEC is abusing their power too much, with this market a lot of names have gotten into the SEC controversy. And more and more I see the peculiarity of crypto, some regulations can make it difficult for new businesses and projects to access capital and develop, and users cannot use services and products. crypto products they want. Besides, this can also lead to underground activities and non-compliance with regulations, leading to instability in the market and also for the stock market. Therefore, the SEC needs to carefully consider its decision and exercise reasonable supervision, ensuring that the cryptocurrency market develops in a sustainable manner and is not negatively impacted.

[FUCKBSVFUCK]

It is a matter of time before the SEC takes a decision on this matter. They don't want to be in a position to do anything at all. They are going to look at the market and decide to make a decision based on what they see as the best. 
 
In the long run, they will have to find a way to protect their assets from being scammed. That is the most important thing to do right now.

[JamesDaniel90]

Update - I continue to DCA into Algorand as 13p is a fantastic price right now.

Got to ignore the FUD and as Warren Buffet says - be greedy when others are fearful.

[o48o]

Update - I continue to DCA into Algorand as 13p is a fantastic price right now.

Got to ignore the FUD and as Warren Buffet says - be greedy when others are fearful.

Fantastic price as in lowest in 3 years and near ATL. Yeah, i suppose it is if you want to get it as much as you can. I have nothing against DCA as a tactic and i am using it too, but it's harder to understand with an assets that i can't see having any future like personally with ALGO, but i have been wrong before.

But what i see in algo charts is that it can go lower, and since it has such a high marketcap it can go significally lower. So hopefully you have money left in 3 years to buy more if it keeps just dropping. Or at least money left to diversify to other alts as well.

Good luck and may you be prosperous and prove me wrong.

[JamesDaniel90]

Update - I continue to DCA into Algorand as 13p is a fantastic price right now.

Got to ignore the FUD and as Warren Buffet says - be greedy when others are fearful.

Fantastic price as in lowest in 3 years and near ATL. Yeah, i suppose it is if you want to get it as much as you can. I have nothing against DCA as a tactic and i am using it too, but it's harder to understand with an assets that i can't see having any future like personally with ALGO, but i have been wrong before.

But what i see in algo charts is that it can go lower, and since it has such a high marketcap it can go significally lower. So hopefully you have money left in 3 years to buy more if it keeps just dropping. Or at least money left to diversify to other alts as well.

Good luck and may you be prosperous and prove me wrong.

I have other alts I am invested in. I am not going heavy into Algo as I agree it can go lower , especially if we see another crash sometime this year.

I am just going to continue DCA and not be put off by the FUD.

[bussybuddy]

unfortunately because the SEC has power and direct influence over products in the crypto space, but more and more I only see them abusing their power to press charges. Why must it be at times like the present to come to that conclusion, there are many other coins that have also encountered controversies related to the SEC.

and now I feel that either the projects need to do a lot of legal research outside the US to avoid such situations, or they will just prove and sue against what the SEC is doing caused to the market.