#CryptoCorner; #SEC Official: ‘ #Ether Not a Security’, the EOS #Blockchain is Officially Live and Fundstrat Co-Founder Attributes #Bitcoin Drop to Futures Trading
#CryptoCorner; #SEC Official: ‘ #Ether Not a Security’, the EOS
#Blockchain is Officially Live and Fundstrat Co-Founder Attributes #Bitcoin
Drop to Futures Trading
Point Roberts, WA, Delta BC – June 15, 2018 - Investorideas.com, a leader in crypto and
blockchain investing news reports on what’s driving the cryptocurrency markets
with today’s edition of Crypto Corner.
Read this in full at http://www.investorideas.com/news/2018/crypto-corner/06151EtherEOSFundstrat.asp
SEC Official: ‘Ether Not a Security’, the EOS Blockchain is Officially
Live and Fundstrat Co-Founder Attributes Bitcoin Drop to Futures Trading
The U.S. Securities and Exchange Commission’s (SEC)
director of corporate finance, William Hinman, says that Ether is not a
security. In a pre-written speech at the
Yahoo Finance All Markets Summit in San Francisco yesterday, Hinman affirmed
that other cryptocurrencies may still be considered securities while Ether is
sufficiently decentralized not to be subject to the same SEC regulations.
“...based on
my understanding of the present state of Ether, the Ethereum network and its
decentralized structure, current offers and sales of Ether are not securities
transactions. And, as with Bitcoin, applying the disclosure regime of the
federal securities laws to current transactions in Ether would seem to add
little value.”
The EOS
blockchain is now live, having received more than the required 15 percent of
votes for “Block Producer candidates”.
One billion votes for “Block Producers” (analogous to Bitcoin miners) are
required, but once the 15 percent threshold has been reached, the chain is
considered valid. At press time nearly 22 percent of votes have been
registered. EOS is already the fifth-largest cryptocurrency by market cap
according to data from CoinMarketCap.
According to CNBC, Fundstrat
Global Advisors’ co-founder Thomas Lee attributes Bitcoin’s (BTC) gut-wrenching
drop to futures traders.
"Bitcoin
sees dramatic price changes around CBOE futures expirations. This was something
flagged by Justin Saslaw at Raptor Group. We compiled some of the data and this
indeed seems to be true," Lee wrote Thursday. "Overall, bitcoin has
fallen 18 percent in the 10 days prior to CBOE contract expiration."
However in an
email to CNBC, the COO of Cboe Global Markets Chris Concannon wrote:
"While we
are excited about our recently launched Bitcoin futures, the notion that they
have materially affected the bitcoin price overstates their influence and
ignores other critical facts. Our strict position limits and the limited open
interest in our May and June settlements, suggest that the fall of Bitcoin can
be more easily explained by other factors such as the recent regulatory
scrutiny around the globe, steps by government tax collectors, the rise of
other cryptocurrencies, and declining media interest in the asset."
Sam Mowers, Investorideas
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