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RE: People are selling their altcoins for Bitcoin before August 1 so they get free Bitcoin Cash

I would expect extreme volatility in alt-coins on all exchanges until we see which exchanges are going to comply with the new SEC regulations. Until then, any alt-coin on an exchange not in compliance is in dang of being seized.
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True. How does the SEC plan to enforce their regulations? I'm not very educated on these matters. Will it be similar to income tax, where they only audit a tiny percentage of individuals and the 99+% of people pay out of fear of the severely unlikely scenario where they are investigated?