Cryptocurrency news
The SEC has not only pursued digital asset issuers and trading platforms; in some cases, the agency has increasingly targeted other industry plays, including investment advisers and over-the-counter traders. what is eam The SEC settled charges against Galois Capital Management LLC, a former registered investment adviser for a private fund that primarily invested in crypto assets. The agency claimed that Galois had failed to comply with requirements to safeguard client assets—including crypto assets that were offered and sold as securities—by neglecting to ensure that the assets held by the private fund it advised were maintained with a qualified custodian. Galois agreed to pay a civil penalty of $225,000.
And in every case, where federal courts have had to determine whether there were “securities” at issue, the courts have applied the Howey test—looked at the economic realities of the offerings, and, even though the offerings at issue involved supposedly novel technologies, rejected defense arguments that they were not securities.
The history of our securities laws makes clear that Congress always intended the definition of what is a security to be principles-based and flexible to cover the many kinds of schemes where promoters seek others’ money and promise profits in return.
Cryptocurrency market
On 19 October 2021, the first bitcoin-linked exchange-traded fund (ETF) from ProShares started trading on the NYSE under the ticker «BITO.» ProShares CEO Michael L. Sapir said the ETF would expose bitcoin to a wider range of investors without the hassle of setting up accounts with cryptocurrency providers. Ian Balina, the CEO of Token Metrics, stated that SEC approval of the ETF was a significant endorsement for the crypto industry because many regulators globally were not in favor of crypto, and retail investors were hesitant to accept crypto. This event would eventually open more opportunities for new capital and new people in this space.
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There exist multiple methods of storing keys or seed in a wallet. These methods range from using paper wallets (which are public, private, or seed keys written on paper), to using hardware wallets (which are hardware to store your wallet information), to a digital wallet (which is a computer with software hosting your wallet information), to hosting your wallet using an exchange where cryptocurrency is traded, or by storing your wallet information on a digital medium such as plaintext.
Bitcoin is pseudonymous, rather than anonymous; the cryptocurrency in a wallet is not tied to a person but rather to one or more specific keys (or «addresses»). Thereby, bitcoin owners are not immediately identifiable, but all transactions are publicly available in the blockchain. Still, cryptocurrency exchanges are often required by law to collect the personal information of their users.
Cryptocurrency networks display a lack of regulation that has been criticized as enabling criminals who seek to evade taxes and launder money. Money laundering issues are also present in regular bank transfers, however with bank-to-bank wire transfers for instance, the account holder must at least provide a proven identity.
What is cryptocurrency mining
Bitcoin mining is a network-wide competition to generate a cryptographic solution that matches specific criteria. When a correct solution is reached, a reward in the form of bitcoin and fees for the work done is given to the miner(s) who reached the solution first.
Bij Bitcoin mining voeren miners complexe berekeningen die verband houden met het valideren van transacties. Dit gebeurt met krachtige computers, die de ingewikkelde wiskundige berekeningen uitvoeren om zo een blok met transacties te ‘delven’. Miners concurreren met elkaar om als eerste een juiste oplossing te vinden voor een berekening. Heeft een miner als eerste de som opgelost en daarmee ‘gewonnen’, dan wordt er een nieuw blok gedolven. Als de andere nodes het blok bevestigen en goedkeuren, wordt het nieuw gedolven blok toegevoegd aan de blockchain en wordt de miner beloond met een bepaalde hoeveelheid Bitcoin. Daarna begint het proces weer opnieuw.
We live in interesting times. People are investing a lot of time, effort, and energy into mining virtual assets that are recorded with digital ones and zeros. It seems strange, but it’s just a natural social and technological development. What was strange yesterday will be normal tomorrow.
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Keep in mind that Bitcoin itself is a speculative asset with no intrinsic value, which means it won’t produce anything for its owner and isn’t pegged to something like gold. Your return is based on selling it to someone else for a higher price, and that price may not be high enough for you to turn a profit.
Investeren in Bitcoin en cryptocurrency is spannend, maar houd altijd rekening met de risico’s ervan. Doe altijd je eigen onderzoek en leer begrijpen wat elke cryptocurrency te bieden heeft. Kijk goed naar de markt, houd het financiële nieuws in de gaten en bekijk factoren als marktkapitalisatie, liquiditeit en vooruitzichten. Houd je portfolio divers en leg nooit meer in dan je bereid bent om te verliezen. Happy trading!