In a recent interview, Blockstack chief Muneeb Ali said he was cautiously optimistic about the US regulatory environment for cryptocurrencies. The comment came after further hearings by US regulators about the crypto space and its emerging players.
Be cautious about optimistic cryptocurrencies
Co-founder and CEO of the decentralized computing network Blockstack has joined CNBC’s “Squawk Box” to discuss the SEC’s first-ever qualifying rating for retail investors.
The first toy was SEC Chairman Jay Clayton, who commented on the ease of discovery of bitcoin prices and compared it to traditional markets such as NASDAQ. He added that digital asset trading is better regulated to provide more protection for investors.
This is not new, and has recently reaffirmed the opinion of U.S. lawmakers on how they view the Wild West environment.
He spoke about the sale of tokens approved by the SEC, where he said there are many exchanges that are expected today. According to the WSJ, the SEC approved a $ 28 million Reg A + offer in July for a decentralized Internet company. It was reported that the firm had to spend $ 2 million to secure regulatory approval. The Reg A + platform allows companies to collect $ 50 million dollars from retail investors, not just accredited investors.
Then came the boom of the ICO 2017, which triggered alarm calls from regulators in the US and around the world. Ali added that his own work in successfully verifying the endorsement of an approved mark provides a framework for others to seek similar approval.