All my alt coins are up
Woke up this morning to find a see of green and some of my crypto was up 45% (FunFair) which was good to see. Once I finally finished my morning jobs and spent time with my kids I looked into why potentially the sudden spike.
I found out that there had been some interesting regulatory events at a Senate Hearing in the US. From what I understand they kind of accept Bitcoin but they don't seem to like ICO's. Personally, I don't know if this is good or bad, potentially bad for ICO's that want to break into the American market as they may find their target audience is going to be accredited investors, but then again it might not be bad because most of these accredited investors have the big bucks and can easily drop big numbers into a project.
Sending messages to the rest of the world
Will this send rumbles across the globe now the US regulators have taken this stance, will Europe follow? Being from the UK I hope the UK doesn't follow America stance and regulations because I'm not an accredited investor but I enjoy investing in projects I like, Sia coin in my eyes Sia a great project that can potentially take on Amazon and Google in the future (unless they sell out to them of course), Electroneum bringing crypto to the masses another great project I got in at ICO stage and I'm already in profit despite the dip lately.
Some of the projects I've seen listed on tokentmarket.net already stop people living in the US from investing at ICO stage, I think the clamp down on rules will introduce new KYC rules so before investing you will have to pass certain criteria this will stop people using VPN's and such like tools potentially.
I know one thing though, I'm hoping this news from the Senate hearing has stopped the bleeding that's been happening in the market lately or maybe this is a one-off. I'm not getting my hopes up just yet but there's a glimmer of hope the nasty redness is going away for a little while.
In the meantime I'll have a little party.
Disclaimer anything in this article is not financial advice its all my opinion
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