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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 421.29-0.5%Jan 16 4:00 PM EST
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Recommended by:
Haim R. Branisteanu
To: TobagoJack who wrote (166618)1/2/2021 5:51:54 AM
From: carranza21 Recommendation  Read Replies (2) of 219539
 
This might be the pin:

sec.gov

A SEC lawsuit against Ripple’s promoters for selling unregistered securities. Is this the first volley of sovereign against unaffiliated cryptos?

Not sure that BTC qualifies as a security per SEC definition but a suit by SEC to establish BTC as illegal because unregistered would shave 30% of value, minimum, regardless of merits or ultimate disposition. Forget about institutional investors b/c they cannot own ‘illegal’ stuff.

Problem: Who would register? Who would make periodic reports? Answer: Whoever ‘runs’ BTC. Question: Who is that? Answer: I have not a clue, do you? The inventors? Who are they? In Ripple’s case, easily identified, suggesting BTC might be differently treated.

No sovereign, especially owner of reserve currency, will tolerate currency competition from non-national upstart it cannot sanction, manipulate, or control. Is BTC sufficiently valuable to be significant competition? Only if it takes an enormous rocket ride that would make present ride look like flight of a paper airplane. So, my guess is BTC is not yet in danger on that account, but regulatory instinct is strong among bureaucrats.

Definition:

law.cornell.edu

Sword of Damocles.
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