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Bitcoin Price Today – October 5th, 2019

by Alan Daniel
, Bitcoin Price Today – October 5th, 2019

The bitcoin price today is $8,090. The good news is that the bitcoin price is range-bound, the bad news is that the price of bitcoin is range-bound in the $8,000 level.

With that, let’s take a look at some of the most compelling events within the burgeoning crypto sector.

The Bitcoin Price and Crypto Events

Agatha For Congress

Agatha is gunning for Nancy Pelosi’s seat, and she might be right for the job. The potential Speaker of The House is an intriguing candidate because of her relevance to millennials. Agatha Baclear runs on a future-forward platform and will accept cryptocurrency campaign donations.

She recently noted her interest in working alongside more political representatives like her who understand emerging technology and crypto.

Remember, Agatha Baclear isn’t the first one to accept cryptocurrency campaign contributions, Andrew Yang, and others have surely done so in the past. Yet, this is event shows that more political candidates who aim to serve the public are running on change and relevance.

They’re focused on showing their constituents that they’re studying and understanding how the world is changing and hoping to put forth legislation and government programs that work for the American people.

Is this event material and bitcoin markets moving? Well, yes, and no.

The event shows that cryptocurrency is not a fad and further shows that representatives are catching up with the technology.

Coinbase and the Crypto Rating Council

One of the most compelling events within the past week is likely that of the Crypto Rating Council. Coinbase teamed up with several crypto exchanges to classify digital assets as securities or not. This initiative is an intriguing one because it shows that the cryptocurrency industry is further aligning itself with regulations but will take a pro-active approach.

A pro-active approach is certainly needed in this emerging industry to perpetuate innovation. Stodgy institutions like the SEC, FinCEN, and others might stifle growth and place undue and onerous burdens on companies and assets, restricting real technical innovation.

The Crypto Rating Council deems bitcoin, litecoin, dai as pure non securities and is in the process of classifying others. Its effectiveness is essential, and it must make sure to work with regulators throughout the process.

The SEC ON ICOs and Landmark Settlements

Block.One settled with the SEC for its “unregistered securities sale” and paid more than $20 million in fines to the centralized regulatory body.

The EOS maker received a slap on the wrist.

Why?

It raised more than $3.5 billion and only paid out $20 million to the SEC. This event shows that the SEC is willing to work with cryptocurrency projects as long as these projects continue to collaborate with the SEC.

It is an essential event as KIK is firing up to fight the SEC regarding its KIN token offering. We’re expecting the SEC to conduct similar transactions with other projects within the cryptocurrency sector.

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