RATE Group | MARK-TO-MARKET: Will the SEC save the cryptocurrency industry? | Economy
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MARK-TO-MARKET: Will the SEC save the cryptocurrency industry? | Economy

30 Sep MARK-TO-MARKET: Will the SEC save the cryptocurrency industry? | Economy

Posted at 13:52h in Cryptocurrency News by

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The U.S. Securities and Exchange Commission (SEC) was established by Congress in 1934. Its role is to enforce the nation’s securities laws and protect investors by promoting a fair, orderly and efficient marketplace.

In March, the SEC expanded its oversight to the highly controversial cryptocurrency industry. Cryptocurrencies are digital forms of currency that exist only in electronic form with no physical banknotes or coins. They are not owned or regulated by any single government. Instead, the rules, structure, integrity and amount of each currency is solely determined by the creators of each digital currency.

Currently, there are 2003 different cryptocurrencies. Created in 2009, Bitcoin was the world’s first cryptocurrency and it remains the most popular. However, it was not until 2017 that it reached its apex as a new-age currency and means of transacting commerce.

In the…

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