Good morning Asia, here's the market situation: 1. Ether is up on favorable comments from cftc; bitcoin is flat. 2. Despite CFTC's positive comments about ether, its move on Binance is bearish for America, bullish for Asia. thesamreynolds writes
The U.S. Commodity Futures Trading Commission's Sure, traders who use Binance, like the U.S.-based prop shops with offshore accounts, holders of its BNB token, are some of the people who are annoyed.
“The SEC’s suit rests on the erroneous premise that the seven Coinbase-listed assets identified in its complaint are ‘securities.’ But Coinbase does not list any securities on its platform,” anas part of the case in March reads. “The SEC posits that the digital assets qualify as securities because they are “investment contract[s], but the assets lack both essential attributes of that statutory term: They are neither contracts nor investments.”.
“This ongoing and ever-changing regulatory environment hinders well-designed compliance and regulatory plans,” Braden Perry, a former attorney for the CFTC,“The last thing any industry wants is what the SEC and CFTC have done: regulation by enforcement, in which agencies decide that some practices should have been illegal, [and then] go back and prosecute the people who were doing it before,” he continued.is coming. The right kind, hopefully, and not the stuff that drives an industry offshore.
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