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Cryptocurrencies

SEC proposes a revolution. Will the prices of these cryptocurrencies skyrocket? New regulations are coming

The U.S. Securities and Exchange Commission (SEC), widely known in the cryptocurrency world – although not until now in a positive light – does not intend to restrict the cryptocurrency asset market this time, but on the contrary. It aims to assist in its development – and is considering radical legal-regulatory facilitation for this purpose.

This preference was expressed by the new chairman of the Commission, Paul Atkins, sworn in just last month, in his speech at a 'round table' forum on tokenization in finance. This forum was organized by a task force on crypto established within the SEC. The group explicitly formed to promote the development of the market for decentralized cybernetic assets and (especially) cryptocurrencies. Cryptocurrencies are reacting to the words – and even more so to the overall direction of SEC policy under Atkins, with the participation of, among others, Peirce. Ethereum, long seen as a token much more susceptible to 'securitization' than Bitcoin, meaning compulsory recognition as a bond with all the legal requirements burdening the latter, is making up for losses in relation to the most popular cryptocurrency.

The biggest winner, in terms of both current quotes and long-term prospects, may be XRP. This token was the protagonist of the famous, long-standing legal battle with the SEC under Gary Gensler, and being the subject of precedent in the latter's attempts to bring the cryptocurrency market under its control. Ripple partly won the case – in some aspects, however, it was recognized as an asset subject to the rigors of securities.

It will benefit all the more from the facilitations promised by Atkins.