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Turns out that SEC knows about blockchain than we thought

sec may classify some stablecoins as security

In yet another round of educational forums, the SEC displayed a level of knowledge in the blockchain technology that not many industry insiders were expecting them to.

The forum was held through various panels, where the SEC wanted to acquire information about atomic swaps, and how they operated in the industry.

During the discussion, market experts were astonished by how much research the regulator had actually put in educating itself about the industry, many saying that the panel went very smoothly, and only the atomic swaps were the unclarified topic.

The display of knowledge from the SEC did indeed surprise the community, but it opened up past wounds about BTC ETF offerings and the banning of ICOs.

The panel did not shift towards discussing these issues, however, as the topics remained quite fixed on the atomic swaps, which is basically the exchange between two individuals or companies, without the intervention of a middleman.

Another topic for discussion was the reason why the SEC is so reluctant to regulate Bitcoin Exchange Traded Funds.

The regulator has mentioned that the price manipulation of the market is alarmingly high, and does not want to subject investors to such volatility, especially those who do not have experience.

However, the community had an answer to these concern saying that most investors utilizing Bitcoin ETFs will be institutional, who will have designated teams for this type of activity, therefore the risk will be fully understood and undertaken by market experts and not retail rookies.

Giorgi Mikhelidze

Giorgi Mikhelidze

Georgian-born blockchain enthusiast Giorgi leverages his software development background for on point market commentary and analysis. A brief stint with Finance Makers and he's now covering crypto news for high authority websites with the tip learned from past experience, "Whenever you see people talking about the weakness of your idea, don't see it as criticism."

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