The Securities Exchange Commission announced on Friday it will make cryptocurrency and initial coin offerings a top priority. Earlier this week crypto traders got an unexpected bit of hope
when the chairman of the SEC testified in front of the Senate Banking Committee and said cryptocurrency shouldn't be dismissed. Peter J. Ferrara, policy analyst and Senior Fellow for Legal Affairs at The Heartland Institute joins The Crypto Craze to discuss what this means for crypto traders.
Ferrara explains a new version of bitcoin called AML bitcoin, which takes the anonymity out of each transaction. He says this change in the technology may flourish if the SEC takes a stronger hold on the regulation of crypto.
Plus, Ferrara believes this is a turning point crypto because now each "wallet" will be tied to a biometric identity. Up until now it's been a little like the wild, wild west. There weren't any laws or sanctions and that caused problems with money laundering and even using crypto as a payment for terrorism.
President Donald Trump has signed the GENIUS Act into law, setting new regulations for stablecoins, a type of cryptocurrency tied to assets like the U.S. dollar.
The switch from high-fructose corn syrup in Coke sold in the United States would put Coca-Cola in line with its practice in other countries, including Mexico.
