Crypto Prices Rising Again After Regulatory FUD: Bitcoin, Ethereum & Meme Coins Bounce After Escaping SEC Wrath
Despite a new round of regulatory FUD (fear, uncertainty and doubt) from the US Securities and Exchange Commission (SEC) in wake of their just-announced lawsuit against Coinbase, crypto prices are rising again.
Bitcoin (BTC), Ether (ETH) and a number of meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) were all trading in the green on Tuesday.
BTC was last in the $26,000, ETH in the $1,840 area, DOGE just under $0.07 and SHIB near $0.000008, all sharply up from Monday’s lows.
In the two SEC lawsuits announced this week against Binance and Coinbase, the regulatory agency has accused a number of cryptocurrencies of being unregistered securities, including major blue-chip names like BNB, BUSD, Cardano (ADA), Solana (SOL), Cosmos (ATOM) and many more.
Whilst these cryptocurrencies remain subdued on Tuesday, the above-mentioned cryptocurrencies like BTC, ETH, SHIB and DOGE all escaped the SEC’s wrath.
If the SEC doesn’t deem these cryptocurrencies as securities, then there is limited risk that US-based crypto exchanges will be forced to de-list them.
In that sense, these cryptocurrencies may be acting as something of a safe haven against regulatory FUD right now, with investors moving out of coins that might be deemed a security and face high regulations, into coins that don’t face this risk.
The SEC’s regulatory FUD may still weigh on the Bitcoin and Ether price, given that it sends a chill across the US crypto sector, stymying investment and development and slowing progress toward crypto adoption (in the US at least).
But the coins that escaped the SEC’s wrath may well outperform those at risk of being labeled a security for the foreseeable future.
With all of the above being said, investors looking to invest in crypto presales –
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