The main digital coin erased all the gains done after Elon Musk's February announcement. What are we heading into?
Digital coins go up
On Wednesday, Bitcoin along with other top crypto assets demonstrated moderate gains in Asia, notwithstanding the fact that Ethereum investors digested the news that the SEC told Ethereum doesn’t appear to be a security under US law.
According to a recent staff analysis, Ethereum and a number of other crypto assets weren’t recognized as securities, and Jay Clayton, US SEC Chairman has already confirmed it.
Moreover, Clayton also stressed that the definition of a digital coin as a security isn’t static if later the digital coin is offered and sold in such a way that it won’t meet that definition any longer. In 2018, Clayton told that securities laws should be followed to make initial coin offerings efficient.
By the way, the market value of Ethereum didn’t move more than it usually did on the news. In Asia, this crypto asset managed to rally by up to 1.55% hitting $133.
Other crypto assets rallied too. For example, Bitcoin headed north by about 1.34% concluding the trading marathon on Wednesday at $3,877.3. As for XRP, it surged by about 0.60% showing $0.31019. Besides this, Litecoin ascended by 4.91% trading at $56.331.
The crypto market capitalization was intact, sticking with $134 billion.
Crypto traders also closely watched a move by Thailand’s securities watchdog giving the green light to the first ICO portal in Thailand. By the way, the portal is still unnamed.
The Bangkok Post informed that the ICO portal is capable of screening ICOs, confirming smart contract source codes, performing due diligence, and conducting Know Your Customer procedures. Soon this portal will be officially approved by the country’s Commerce Ministry.
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