SEC - Cryptocurrencies such as Bitcoin and Ethereum are not securities; market rebounds - #CryptoTrading

Published in Reports · Labeled as ·

Quick debrief on some other topics that emerged as the SEC ruled BTC and ETH not a security.

Bitcoin has been making gains over the past several hours, rebounding from the 6350 USD mark to a daily high over 6700 USD.

The leap off the bottom happened just after the news report published via the CNBC.

Below quick debrief on some other topics that emerged as the rebound started happening:

Is EOS a security?

EOS is a cryptocurrency popular mainly in Asia that has earned a substantial amount of money through and only recently launched its own blockchain.

Blockchain enthusiasts seem to agree that as EOS is already done with its crowd fund it should not be a security, just as Ethereum is now officially not a security.

Will all cryptocurrencies be judged individually?

As Peter Van Valkenburgh of Coin Center explained live on Bloomberg TV on June 14 2018, in most cases it will be possible to go by analogy.

The SEC commented Bitcoin and Ethereum in particular, the two cryptocurrencies that represent well the two kinds of tokens that make the majority of the crypto markets - cryptocurrencies meant for payments and cryptocurrencies as app tokens.

This should also prove valid for the question of EOS above, just saying “it is meant to be treated like ETH” is not good enough though.

Utility Tokens?

Calling a cryptocurrency a ‘utility token’ does not mean it cannot be a security.

What is important for the SEC is the actual usage rather than the label assigned to it in the whitepaper. What is judged here is how decentralized the network is, whether there is investor assymetry to be addressed, how is the token being used on the platform.

This is not a new thing either, SEC merely confirmed the common sense

The crypto trading community is indeed coming back to the good humor it is known for:

Category: Reports · Label: · Author: Karlvonbahnhof (contact author)

 

Last added to Crypto Airdrops, Bounties & Opportunities
Airdropped Token or Opportunity Airdrop Date About the airdrop Link
Bitfinex KSM Staking Launched 25 Feb Bitfinex opened staking of Kusama tokens with expected staking rewards of ~8% p.a. To start staking KSM, deposit your tokens into your exchange wallet on Bitfinex, or buy the tokens on the exchange. First payout will arrive on 3rd March. sign up with fee discount
PheMex Twitter Bounty Live Phemex is a crypto derivatives platform (new and therefore not to be trusted too much) that is trying to fill the hole after BitMex. They do not require KYC for now, word of caution. PheMex is trying to build up their Twitter account and promise to give away the total of 1x 10k worth of BTC as well as loads of smaller prizes in gift cards and such, if you help them shill their Twitter handle. Phemex account is needed, sign up with code H7QPW to get welcome bonus. sign up with bonus and view the prizes
DOT and GRT trading fee discount (reliable exchange, easy KYC) Until 9 March Polkadot and The Graph trading has been enabled on the Aussie exchange Independent Reserve in fiat pairs with AUD, NZD, SGP and USD. (International deposits available, KYC individual). The trading fee is 0.1% flat for accounts without premium or volume discount for the first two weeks of trading. info
Pulse Network Reward Competition Until Mid March Pulse network is opening a competition where the most active social media shills get rewarded from a prize pool of 10k+ USD. Top 50 shills get at least 430 USD worth. info
BitFuFu Bounty Promo Until end of Feb BitFuFu is a cloud mining pool that gives a bounty to approved users for online promo. Bounty is paid out weekly in stablecoin. request entry
Blockchain Space Telegram Bounty Until June 2021 Blockchain Space runs a Telegram activity bounty. The most active users will be paid 50 USDT every 15 days. info
Armor Network Early Mining Opportunity For a few weeks now Armor Network is a fast, anonymous and untraceable cryptocurrency integrated into Telegram ecosystem. No ICO, no premine. Genesis block 21 Jan, mining rewards are still high. WARNING: Right now uses a Telegram wallet, so you don't own the private key. info
Bitfinex Global Grid Competition Until 21 Feb Bitfinex intermediate verified users can enter any of the 4 trading competitions and fight for prize pool of 50k USDt. More information in the banner at the top of the chart in Bitfinex trading interface. sign up
Zappermint bounty Weekly Zappermint is a token for monetization of game apps. They run a weekly social media bounty that must be reported and claimed via bitcointalk. thread
Opportunity: DeFi Tokens on reputable exchange with lower fees 14 days after listing The Aussie exchange Independent reserve is listing new DeFi tokens these days. For each of the new markets has the fee reduced to 0.1% for the first 2 weeks. Currently those markets are yearn.finance, Aave and Kyber Network Crystal. sign up
Earn YoBit's YoDefi tokens Live YoBit set up their own defi project for liquidity on the exchange. The exchange pays out 777 YoDefi Tokens proportionally for all users every 10 mins. sign up
Staking without KYC on WhiteBit New! WhiteBit opened 17 different staking plans with 9 different currencies to choose from. 40% APR, available to the users without KYC. (Be mindful of risks) sign up