BREAKING NEWS: NEW PRO BITCOIN & CRYPTO SEC Chairman APPOINTED! This is MASSIVE! Here's What's NEXT.
Long digital asset news they get top stories and cryptocurrency digital assets and bring them down to bite-sized pieces. So today this morning is december 24th. It was christmas eve. It's about 8 40 el paso texas time in the morning and before we get into the big story, i just want to do a quick review about what's been going on the last couple of weeks.
So first up, i'm going to play this clip i played a couple days ago. This is brian brooks he is the czar of the occ, the office of the comptroller of currency, and he said something very interesting which i thought was going to be a fantastic ride.
Moving forward and uh, he said everything's, gonna be great, and we're gonna. Have all these these great news and i'll. Let him tell you and it's equally important, that we develop the networks behind bitcoin and other cryptos, as it is that we prevent money laundering and terrorism financing so believe me, there's, a balance here and it'S going to work for everybody, so that's, a neither a yes or no answer to that.
Should we be expecting some new regulations by by the end of the trump term. I think you're, going to see a lot of good news for crypto by the end of the trump term, some of it's, going to have to do with banks connecting to blockchain some of us going to be more clarity.
Around the nature of these assets so believe me, there's, going to be very positive messages coming out positive messages, and we were all excited me, especially because i actually increased my dollar cost averaging buys every day.
But unfortunately, a couple days ago, we got this little action right here. Scc is going to shoot, uh sue, ripple, labs, bradley, darlinghouse and christian larson, and that was a bummer. And we covered that in a couple days ago and also yesterday about what's going on and how ripple responded to that which is pretty interesting.
But i want to take you back to september 7 2018 and there was this guy named elad roisman and he was elected to be a commissioner of the sec. So he is part of the people that actually do all the regulation underneath the commissioner jay clayton and uh.
It was a pretty good pick and this was a couple of years ago, but just as a little refresher, this guy's. Well back then, he was 37. Now he's 39. So he's, a young guy, so he & # 39. S got probably some of those other type of thinkings.
As far as what's going to happen in the future, and before that, he was chief counsel of the u.s senate committee on banking, housing and urban affairs, and this article talked about. Could this be a breath of fresh air in the sec? El roysman has been associated with having a pro crypto stance.
His role within the sec is expected to support commissioner hester pierce's. I'm, going to say that again, commissioner hester pierce's earlier initiative to open financial markets to the world of cryptocurrencies and during the hearing to approve them.
He stated this. I'm gonna. Have you listen to what he says here? The u.s capital markets are the envy of the world and the importance of the sec's. Rule in this cannot be overstated throughout its history.
The dedicated commissioners and staff of the sec have worked to preserve the confidence to preserve confidence, as our markets grew and evolved. To continue. This the sec must examine and re-examine its rules, regulations and guidelines to ensure that they are still working as intended to accomplish the sec's mission.
This is most recently manifested in areas such as data protection and cyber security, as well as the emergence of new investments and technologies such as initial coin offerings and blockchain. It is essential that the sec approach, these new challenges in a fair and transparent manner, provide clarity and certainty to the markets and investors and enforce the laws and regulations that hold market participants accountable.
So i like that that sounds pretty good. So why am i bringing all this up because i'm going to tell you why hester pierce sent out this little tweet about uh 30 minutes ago 40 minutes ago and uh pretty much said, hey! Congratulations to chairman roysman! I look forward to your leadership of the sec because he will be the new chairman and that i think, is great news for everybody.
So potentially this could be what brian brooks was talking about. I was on alex maskiell & # 39. S show, and i said i don't know what brian brooks was saying, because it just doesn't, make any sense and then ryan said.
Well, sometimes you have different levels of organizations that don't know what the left hand is doing as far as the right, so maybe brian brooks here only had half the story. Maybe he knew that roizman was going to be confirmed as a new commissioner.
He knew that he was pro cryptocurrency. He thought this is going to be great. Maybe he had no idea about clayton coming out and going hey sue ripple. I have no idea, but this is positive news, but you have to understand that the lawsuit that's going on could take potentially years unless roizman comes in and says you know what this is ridiculous.
Do i think that could happen? I mean it's, a possibility, but the wheels are already in motion and it's kind of hard to stop the train once it gets moving. So what does this have done? What has this done for the actual price action? Well, not too much.
I don't. Think people have really known about it because it just happened not too long ago, but xrp is down massively and it's almost pegged. The quarter like i always talk about, but it's down big time.
I expect bumps and valleys and we'll see what exactly happens, but this is positive news. It's, not just positive news for x or p and ripple it's, actually positive news for us as a whole, because if you have somebody in there who is like you know what we need to really examine this and look At it - and it could be potentially super positive for us and really understands that - the role that america plays in the global financial markets - if he understands that - and i think he does - i think we could see some fireworks this year in 2021 - could be a magnificent Year, not just for bitcoin all the institutions, but all the other alt points.
Let me think in the comment section below and that is it for the dan dailey snippet. I will see you tonight where we're, going to give away a hundred dollars worth of voyager token in our 24 days of christmas.
Thanks for watching. I really appreciate it and i'll, see you tonight, [ Music, ]