The cryptocurrency market corrected somewhat over the weekend but has since made its way back up. It is now sitting over the $400 billion mark, the first time the market has broken over this price threshold in 7 weeks.
Presently, Bitcoin (BTC) is just below the $9,000 mark and Ethereum (ETH) is sitting under $650. Today, we’re taking a closer look at Ripple(XRP), Stellar(XLM), and Dentacoin(DCN).
XRP had quite the run-up in price this past week but has since corrected. Gary Gensler, the top financial regulator for the Obama administration and former Goldman Sachs partner, spoke to the New York Times about his views on Ripple and Ethereum, yesterday.
Gensler believes that Ether and Ripple were issued and traded in violation of American securities regulations. In the interview he said: “There is a strong case for both of them — but particularly Ripple — that they are noncompliant securities.” The teams behind both of these projects have spoken out in the past, arguing that their tokens are assets and not securities.
Presently, the Securities and Exchange Commision (SEC) and the Commodity Futures Trading Commission are trying to figure out how to properly categorize and regulate these digital currencies. The main focus in the past has been on Initial Coin Offerings (ICOs) and the smaller cryptocurrencies, trying to monitor fraud but the pair has recently pivoted to regulating the cryptocurrency exchanges. Read more from cryptocurrencynews.com…
thumbnail courtesy of cryptocurrencynews.com