Imagesource-sedara security
On Tuesday 6th 10Am Eastern starndard time, the United state Senate will be holding a meeting to determine the fate of crypto currencies like bitcoin, Ethereum and others. Over the past few days investors have experienced a bloodbath in the market losing so much money and some investors pulling out their remaining funds in exchange markets due to uncertainty and fear in the crypto currencies. However a meeting is to be held to determine the fate of cryptocurrencies as we all know fundamentals/speculations play a major role in the cryptocurrency industry.
The reason for this meeting is to enlighten the congress how the cryptocurrency will fit into the landscape of financial regulations in the United States, and the steps need to be taken to protect consumers.
The chairman of the commodity futures trading commission(CFTC) and the chairman of the security and exchange commission will be testifying to the senate as these two officials are held responsible for the protection of the United States investors and enduring stability and efficiency in the markets. These officials are expected to highlight the dangers, vulnerability, cyber theft and fraud that bitcoin and cryptocurrencies presents. They will as well discuss and highlight their efforts on how to regulate the cryptocurrencies and even request for more power in order to regulate the virtual currencies.
If regulatory order is granted by the senate of the United States, CFTC and SEC could provide the foundation for cryptocurrency exchange traded funds. This will enhance security and slow down the volatility of the market as it will be properly regulated. It will also reduce fraudulent activities, cyber theft as their efforts on regulation will bring about changes in the market. This meeting will determine the fate of cryptocurrencies, if all goes well we will see a slow and steady rise of cryptocurrencies as many investors will embrace the positive news and companies will also dive into the market adopting some cryptocurrencies especially the top ones for their services. Proper regulation is needed to slow down high volatility in the market, vulnerability and panic from investors.
Imagesource-bitcoin news
The government is now wanting our Crypto??? This is really a crazy world we live in. Most Crypto investors wanted out of fiat and wanted to be free from the global banking system. The same corrupt Government and Global Banking system are now planning to dip into our crypto wallets! How can A Givernment Corporation form a committee that decides what happens to our crypto??? I did not vote for these people, I did not authorize them to speak for me, and do not want anything from them! I do want one thing from them other than to leave CRYPTO Alone!!! This was a great post and I really appreciate you taking the time to share it on Steemit. Have a great day! I will look forward to your future posts.
Yes man, Government are getting involved in it, big players like wallstreet and some other banks are getting involved to make invest in it. Thanks for stopping by
This is a huge opportunity for them to get on the right side of history when it comes to crypto. There are definitely areas that I think would be fair to regulate (exchanges). It would be huge for crypto if something productive was actually done. We're in the 21st century, we need a currency and economy that matches that.
Resteemed by @resteembot! Good Luck!
Curious? Read @resteembot's introduction post
Check out the great posts I already resteemed.
RESTEEMBOT IS LOOKING FOR A NEW OWNER
You got a 15.79% upvote from @redlambo courtesy of @vellzz!
Thanks for your contribution @vellzz, you got a 20.00% upvote from @canalcrypto!
70% of your contribution goes to our delegators so if you'd like to help us push posts even harder while earning some extra steems please consider delegating to @canalcrypto. You can delegate your SP here: https://steembottracker.com/delegation.html (Delegator = your username, delegatee = canalcrypto), thanks in advance for your support.
You got a 9.26% upvote from @upmewhale courtesy of @vellzz!
This post has received a 11.36% upvote from @msp-bidbot thanks to: @vellzz. Delegate SP to this public bot and get paid daily: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP Don't delegate so much that you have less than 50SP left on your account.
Thanks for sharing bro. Well done.
THanks dear
You got a 18.15% upvote from @minnowvotes courtesy of @vellzz!
Resteemed to over 11500 followers and 100% upvoted. Thank you for using my service!
Send 0.200 Steem or 0.200 Steem Dollar and the URL in the memo to use the bot.
Read here how the bot from Berlin works.
We are happy to be part of the APPICS bounty program. APPICS is a new social community based on Steem. The presale was sold in 26 minutes. The ICO will start soon. You can get a account over our invite link: https://ico.appics.com/login?referral=1fRdrJIW
@resteem.bot
good post, I like your post ..
I need your support please visit my blog https://steemit.com/@muliadi
if you like my post please give upvote, resteem &follow me.
thank you, keep on steemit.