Worries Grow Regarding Ethereum’s Status as a Cryptocurrency
Chatter is increasing in the digital asset community about concerns the Security Exchange Commission may be taking a hard-line approach regarding its definition of tokens, which would have to be regulated like securities. Ethereum is at the center of this discussion, because its cryptocurrency which is known as Ether may be viewed as a token by the SEC under its current definitions. Tokens are generally assets which are generated via open source Blockchains. However, this is a subject which is being widely debated – and no firm decision has been handed down.
Ripple Almost Doubles it Mid-April Value
Ripple is trading close to eighty-five U.S cents per its XRT coin this morning. Ripple-like the broad crypto market made substantial gains in April. And its price action is a fair reflection of speculative sentiment. The price of XRT clearly shows volatility remains a prevalent feature within digital assets. As of the 11th of April, Ripple was trading near forty-five cents per coin, and its current price value after coming off highs late last week are nearly double that amount.
No Clear Timetable in Sight for SEC Decision on Tokens
The great debate regarding what constitutes a pure cryptocurrency and what is a token is sure to increase in fervor. The question for speculators is what will happen to Ethereum short term if it is hit with a token status. Ethereum is the second most widely traded digital asset. Speculators will certainly want to keep their eyes on the SEC which is being waited on for a decision with no clear timetable in place.
Singapore Digital Assets Event Last Through Tomorrow
The World Digital Assets Summit in Singapore continues today and will last through tomorrow.
- May 2nd – 3rd, Singapore, World Digital Assets Summit
Yaron Mazor is a senior analyst at SuperTraderTV.
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