The crypto market has retraced slightly in the middle of an unexpected market rally. The rally, which began on January 2—when the crypto market was worth $185 billion—pushed prices up across the board, with the crypto market peaking at $288 billion. Today, prices fell somewhat, knocking $8 billion of the current crypto market cap.
The bearish momentum began earlier this morning, after almost $200 was cleaved from the value of Bitcoin in less than an hour. After some further damage, BTC now stands at just over $9,800.

from Decrypt


Its very obvious to me we have reached a threshold, Bitcoin has been on a parabolic run since the beginning of January and a retest back to $9300 is inevitable. I still do believe will be above 10K coming out of February and all sky into March.




The two-year official at the Securities and Exchange Commission – nicknamed “CryptoMom” by the blockchain community – has formally proposed a safe harbor for token projects. It would give them some breathing room to develop their networks and communities before having to worry about the regulatory regime.
Under Peirce’s proposal, unveiled during a speech at the International Blockchain Congress in Chicago Thursday, crypto startups would have a three-year grace period from their first token sale to achieve a level of decentralization sufficient to pass through the agency’s securities evaluations, including the Howey Test, the famous U.S. Supreme Court assessment. 
To date, the SEC has brought enforcement actions against a number of companies that created and sold tokens, including Telegram and Kik, two major messaging platforms.
“The analysis of whether a token is offered or sold as a security is not static and does not strictly inhere to the digital asset,” according to notes detailing the proposal. 

Car's 2 Satoshi's:


Interesting proposal from Commissioner Peirce, described this exact very thing in 2017 when the SEC made its debut to the Bitcoin & Crypto Community amongst all the price surges that year.


Do think with Jay Clayton currently in the head chairman position this will not get passed.


It is the right approach to crypto regulation, she nailed that part.


The U.S. Commodity Futures Trading Commission (CFTC) expects to see more companies apply to become federally-regulated clearinghouses as a result of growing interest in cryptocurrencies



First seen on COINDESK:


Giancarlo addressed LabCFTC, the regulator’s fintech research group created to keep up with changing technology.


During his remarks, the Chairman highlighted blockchain and cryptocurrencies as two aspects of “rapidly changing markets and technological developments.”


Testimony of Chairman J. Christopher Giancarlo

“The Commission anticipates new applications for clearinghouse registration resulting from the explosion of interest in cryptocurrencies; an area in which protection of the cryptocurrencies will be one of the highest risks.”

Car's 2 Satoshi's:


Seems the regulators in the space are looking for any reason to give the industry a green light. All signs look to be pointing for 2021 We need more than just a few Crypto derivatives providers like LedgerX who operates as a clearinghouse already, while platforms like ErisX and Bakkt are still waiting for the CFTC to approve their applications to become derivatives clearing organizations (DCOs), which is a necessary designation to operate as a clearinghouse.


Testimony Link from Giancarlo

https://cftc.gov/PressRoom/SpeechesTestimony/opagiancarlo70

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