SEC Regulate Cryptocurrency

The SEC has recently made an announcement stating they will begin regulating cryptocurrency after a meeting with the top hedge fund minds in America, the consensus was in layman’s terms “If the hedge fund minds can’t understand it, neither can retail and it poses a risk.”

The SEC has stated the risks of volatility and cyberattack makes cryptocurrency too risky for the general public to be able to trade freely. While the SEC is unsure what kind of restrictions it may impose, it has started with a blanket ban on all crypto’s unless purchased by account owners with 1,000,000+ in buying power on FIRNA verified brokerages.