A very significant day has been marked before us, a day that is sure to have a big impact on the cryptocurrency markets. The scale of this impact is still a bit of a mystery at the moment, likewise, we can’t tell if it is going to be a positive impact or a negative impact, as it stands though, the 13th of June 2018 promises to bring with it an element of change that we cannot ignore.
According to Morning Money, on the 13th of June, the United States Securities and Exchange Commission (SEC) are set to hold an investment conference at Georgia State University in Atlanta. With this, we expect to finally here some official statements from the SEC and US authorities with regards to the United States stance on cryptocurrencies. At the moment, the nation seems to be very indecisive and thus, this conference provides the perfect platform for authorities to speak out and of course, make their position known.
The event is set to cover a range of topics and will allow people to have informal discussions with members and staff at the SEC, this will also involve presentations and talks regarding Fintech and of course, cryptocurrencies.
According to Morning Money:
“It will be a town hall event, where attendants can meet with members of the SEC for informal discussions on fintech and cryptocurrencies. While the SEC seems to be most interested in regulating ICOs right now, clarification on all cryptocurrency regulation plans could help bring in new investors too scared to invest.”
See the full report by Morning Money for yourself, here- https://moneymorning.com/2018/05/29/june-13-is-the-next-important-day-for-the-cryptocurrency-market/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+USMoneyMorning+%28Money+Morning%29
What sort of impact should we expect this to have?
Well, first of all, we can’t guarantee that the SEC will make any official statements, although even if this is not the case, members of the SEC and those representing the SEC will no doubt be grilled for answers, suggesting that even without an official statement, after this event, we will know some more about the general stance of the SEC. If the news is good news and the SEC are looking to be positive about cryptocurrencies, the market will react accordingly. Demand will rise and so too, will prices.
On the contrary, if the SEC react negatively and suggest they are sceptical about cryptocurrencies at best, we can only expect people to sell off in response to this, demand may be driven downwards and thus, values will decline. The scale of the decline can only be predicted, once we hear more from the SEC, although mathematically speaking, it goes like this; the worse the news, the bigger the decline. Likewise, the better the news, the greater the incline, so to speak.
This is a great development either way, hopefully soon enough we will know more about the SEC and the United States future vision for cryptocurrencies, once we do, uncertainty can be laid to rest and we can finally look towards how the United States will integrate the blockchain revolution.