"Conclusion
Through the years, technological innovations have improved our markets, including
through increased competition, lower barriers to entry and decreased costs for market
participants. Distributed ledger and other emerging technologies have the potential to further
influence and improve the capital markets and the financial services industry. Businesses,
especially smaller businesses without efficient access to traditional capital markets, can be aided
by financial technology in raising capital to establish and finance their operations, thereby
allowing them to be more competitive both domestically and globally. And these technological
innovations can provide investors with new opportunities to offer support and capital to novel
concepts and ideas.
History, both in the United States and abroad, has proven time and again that these
opportunities flourish best when pursued in harmony with our federal securities laws. These
laws reflect our tripartite mission to protect investors, maintain fair, orderly and efficient markets
and facilitate capital formation. Being faithful to each part of our mission not in isolation, but
collectively, has served us well. Said simply, we should embrace the pursuit of technological
advancement, as well as new and innovative techniques for capital raising, but not at the expense
of the principles undermining our well-founded and proven approach to protecting investors and
markets.
one of the crypto's big selling points is that is that it is not tied to any country or currency .. and promised to be the next generation of money
and yet every time a country cracks down on (the unregulated ) crypto marketplaces it causes cryptos to plummet ..
so don't you think that maybe the whole premise that crpyto is next generation of money is incorrect ?
No.
I'd explain, but you literally come into these threads and throw around all of the media manufactured sayings about bubbles and (my favorite one) "no intrinsic value"
If you want to know what the appeal is, then do some research. The very reason this market is so fucked up right now is because people didn't know what they were throwing money into in December but did it anyway.
Through the years, technological innovations have improved our markets, including
through increased competition, lower barriers to entry and decreased costs for market
participants. Distributed ledger and other emerging technologies have the potential to further
influence and improve the capital markets and the financial services industry. Businesses,
especially smaller businesses without efficient access to traditional capital markets, can be aided
by financial technology in raising capital to establish and finance their operations, thereby
allowing them to be more competitive both domestically and globally. And these technological
innovations can provide investors with new opportunities to offer support and capital to novel
concepts and ideas.
History, both in the United States and abroad, has proven time and again that these
opportunities flourish best when pursued in harmony with our federal securities laws. These
laws reflect our tripartite mission to protect investors, maintain fair, orderly and efficient markets
and facilitate capital formation. Being faithful to each part of our mission not in isolation, but
collectively, has served us well. Said simply, we should embrace the pursuit of technological
advancement, as well as new and innovative techniques for capital raising, but not at the expense
of the principles undermining our well-founded and proven approach to protecting investors and
markets.
Thank you for the opportunity to testify before you today and for your support of the
Commission and its workforce. I stand ready to work with Congress on these issues and look
forward to answering your questions. "
Testimony on “Virtual Currencies: The Oversight Role of the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission” - ( New Window )
Bitcoin for newbies - ( New Window )
and yet every time a country cracks down on (the unregulated ) crypto marketplaces it causes cryptos to plummet ..
so don't you think that maybe the whole premise that crpyto is next generation of money is incorrect ?
and yet every time a country cracks down on (the unregulated ) crypto marketplaces it causes cryptos to plummet ..
so don't you think that maybe the whole premise that crpyto is next generation of money is incorrect ?
No.
I'd explain, but you literally come into these threads and throw around all of the media manufactured sayings about bubbles and (my favorite one) "no intrinsic value"
If you want to know what the appeal is, then do some research. The very reason this market is so fucked up right now is because people didn't know what they were throwing money into in December but did it anyway.