There has been many issues over the past few years regarding cryptocurrency and regulation. We are awaiting the SEC Ripple case to be settled. The SEC and Kraken recently settled with Kraken ceasing staking and paying 30 million in fines. Today a report came out that the SEC was going after BUSD, which will affect Binance. The list goes on if you want to read more about it, just type in SEC and cryptocurrency and you will find many articles talking about all of what is going on.
I am writing about this today, as I have in the past because I think regulation is going to be a long term positive for cryptocurrency as a whole. In the short term, I am considering selling everything I have in crypto assets to wait until the dusts settles. I am likely not selling , but thinking about it. I don't ever make an emotional investment decision. Making emotional investment decisions causes people to lose too much money. I bought really low, so if I keep my investment, even if some go to zero or near zero, I will be okay in the long run.
It appears the current SEC brain wizards seem to be disjointed in what they are doing from a casual observers perspective. They seem to identify some cryptocurrencies as commodities and some as securities. There has been statements from within the SEC that they are not treating cryptocurrencies in a clear and concise manner, somewhat of a Catch-22 situation in terms of how to comply with SEC rules, even though there are no real SEC cryptocurrency rules in place.
I mentioned above the SEC going after BUSD. I believe this will have a secondary benefit for Coinbase. We will see.
Regardless of how the short term market goes, regulation will be a good thing for the long term health and sustainability of cryptocurrency.
2023 will be the year of cryptocurrency regulation!