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RE: Breaking News: SEC Planning Creation of "Cyber Unit" With ICO Oversight
will this be a good thing for the cryptocurrency? I think cryptocurrency thrive because of the anonymity of individual who are using it. Once a government is in control of everything cryptocurrency will be the same as normal currency.
I'm not sure if it's good or bad, though I think it would be best if cryptocurrencies were fully decentralized, meaning authorities like governments didn't attempt to control them. However, there have been many ICO scams and criminal trades in the past, so it may be somewhat helpful. I can see why this topic is pretty controversial.
There are already some rules such as KYC (Know Your Customer) and AML (Anti-Money Laundering) that the US enforces on crypto exchanges, but I think the Cyber Unit will oversee the creation of new rules like those.
The issue is, if you want to do any kind of business in USA, must deal with the crimelords too. That the sec is finally making a move on crypto is a sign of maturity for the market.
Feel free to check this article I just published a few days ago:
https://steemit.com/deepthink/@inquiringtimes/does-the-steem-blue-paper-respond-to-a-recent-decision-by-the-sec-to-consider-some-crypto-currencies-securities
only for those who trade within the USA. and the SEC isn't taking control of the currencies, but will require "Know Your Customer" and of course to operate in the USA with require a lot of govt oversight. but cryptos will still be independent as in not run by a Central Banking Cartel.