Investorideas.com


Investorideas podcasts on iTunes, Google Play Music and iHeart.com    Investorideas.com potcasts - cannabis news and stocks to watch plus insight from thought leaders and experts    Investorideas.com crypto corner    Play by Play – the latest sports headlines and sports stock news    420 Cannabis Investor Ideas Call us 800 665 0411

 

Join our smart investors - Get the best stock directories in  blockchain, cannabis, crypto, AI, IoT, cleantech. Daily podcasts in cannabis and crpto. Just $99  a year

SEC's cryptocurrencies clarity championed by deVere CEO

 

June 7, 2018 (Investorideas.com Newswire) The Securities and Exchange Commission's (SEC) "steadfast yet proactive approach" on Bitcoin and other cryptocurrencies shows the sector is increasingly mainstream, affirms the CEO of one of the world's largest independent financial services organizations.

The comments from Nigel Green, founder and chief executive of deVere Group, come after Jay Clayton, the chair of the SEC, the U.S. financial regulator, told CNBC that Bitcoin (BTC) is not a security.

"We are not going to do any violence to the traditional definition of ‘security' that has worked for a long time," said Chairman Clayton. He also made clear that the SEC is not changing its rules for initial coin offerings (ICO), underscoring that tokens or digital assets used in that fundraising process are securities.

Nigel Green, whose firm operates deVere Crypto, the successful cryptocurrencies trading exchange app, states: "The SEC's steadfast yet proactive approach on Bitcoin and other cryptocurrencies shows the sector is increasingly mainstream.

"The SEC is right to insist that the digital coins, such as Bitcoin, which are replacement for sovereign currencies, such as the dollar, sterling, yen and euro, are not securities.

"Similarly, I believe the SEC is also right that the tokens – which he did not name - that act as digital assets are securities."

"This clarification by the SEC removes some of the uncertainty that has been swirling around the crypto sector and serves to strengthen the overall proposition of many of the major cryptocurrencies."

He continues: "The SEC's invaluable and far-sighted work in this area once again highlights how many governments, central banks, and regulators around the world are all now recognizing the scale and potential of Bitcoin and other cryptocurrencies. As such, they're searching for regulatory frameworks given that the phenomenon has become so large.

"It's my view that some form of regulation of cryptocurrencies – which I believe are the future of money - is now becoming inevitable. This has been noted by the Head of the IMF and can also be evidenced by the July deadline for suggested cryptocurrency regulation set at the G20 summit earlier this year."

Mr Green concludes: "The SEC's clarity will have a positive impact on the cryptocurrency sector. The agency's stance will rightly target what needs to be targeted and allow the legitimate digital coins to prosper."

e: george@priorconsultancy.co.uk
t: +44 207 1220 925
Twitter: @PriorConsults

deVere Group is one of the world's largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients. It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.


Investorideas.com features content for Bitcoin, Blockchain and Digital Currency Stocks and ICO's at Cryptocurrencyinvestorideas.com, Blockchaininvestorideas.com and Investorideas.com

View our growing Bitcoin, Blockchain and Digital Currency Stocks Directory

http://www.investorideas.com/Bitcoin-Cryptocurrency/Stocks_List.asp

Join our LinkedIn Group Blockchain and Digital Currency Stocks and ICO's Latest News and Commentary https://www.linkedin.com/groups/13560073

Check out our crypto blog on blogger.com

https://cryptoandblockchainideas.blogspot.com/

Recently added Bitcoinandblockchainstocks.com at http://www.bitcoinandblockchainstocks.com/



More Info:

Investorideas.com Newswire

This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders


Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.com newswire https://www.investorideas.com/News-Upload/

Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: https://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.

Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp