SEC RELEASES NEW CRYPTO BROKER DEALER GUIDANCE AS BITCOIN CROSSES $74,000!
Crypto News: Bitcoin crosses $74,000 again. SEC proposes certain crypto interfaces don’t need to register as brokers. Broadridge rolls out crypto, tokenized asset platform for Canada wealth managers. Brought to you by 🏦 Learn about iTrustCapital’s powerful Premium Custody Account (PCA) and tax-advantaged Crypto IRA platforms https://www.itrustcapital.com/go/thinkingcrypto
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00:00 Intro
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#Crypto #SEC #Bitcoin #CryptoNews #Cryptocurrency #BTC #BitcoinNews #ETF #News #Ripple #XRP #XRPNews #RippleXRP #Ethereum #EthereumNews #ETH #Solana #money #investing #trading #Altcoin #Altcoins #NFTs #Metaverse #Podcast #ThinkingCrypto =================================================
The Thinking Crypto Podcast is your home for the best Crypto News and Interviews - crypto, cryptocurrency, crypto news, bitcoin, bitcoin news, xrp, xrp news, ripple, ripple news, ripple xrp, ethereum, ethereum news, cardano, ada, solana, altcoins, defi, news, interviews, podcast, metaverse, nft, altcoin daily, cryptosrus, coin bureau, altcoin news, bitcoin today, markets, investing =================================================
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Speaker 1: Hey everyone, Welcome into the Thinking Crypto podcast. You're home
for cryptocurrency news and interviews. I'm your host, Tony Edward.
On your way in. Please hit that subscribe button as
well as the thumbsup button and leave a comment below.
If you're listening on a podcast platform such as Spotify
or Apple, please leave a five star rating and be
sure to follow. Okay, folks, I like what I'm seeing
on the bitcoin chart here. Bitcoin over seventy four thousand dollars.
On the daily chart, the MACDE is in full control
by the bulls. It's in the green and the RSI
is still not in the overbot zone. So shows we
have room to run here. We could potentially go to
eighty thousand dollars. Let's see what happens. It's not guaranteed
if we do. Look at the weekly chart. Also seeing
some positive signs with green candles. On the weekly chart,
the RSI moving away from the over soul zone and
it has ways to go. It's not even in the
middle of the neutral zone and the just flipped green.
But what's very interesting is the monthly. I like what
I'm seeing here, So the mac D on the monthly
is starting to flip to light red, and if you
zoom out and see in the previous cycles, it is
essentially us moving away from that bottom. Right, the bottom
is in and we're moving away. Now. Of course, that's
not guaranteed. We've seen markets fake us out, so we'll
have to give this time to prove itself. But I
like what I'm seeing here. Guys. We are getting closer
and closer to the confirmation of the bottom, whether it's
already in or there's another leg down, which I think
there is a high probability of it going to the
fifty k's, but I could be completely wrong, right, I'm
just sharing the scenarios with you, and no one has
a crystal ball, and we want to look at the
scenarios and see which one has the higher probability of
playing out. So I like what I'm seeing here. You know,
my thesis has been that Bitcoin does a relief rally
all coins follow, but it's just not a move to
new all time highs. I still think there's going to
be some more back tests to test somebody's lows before
we start to slowly make our way out of this
bear market and we head to new all time highs,
potentially by the end of the year or most likely
next year. So that's my thesis, and again I could
be wrong, but I'm just sharing with you guys what
I'm looking at from different chart analysis, Elliott wave, the
unchain signals and macro factors and much more. So we're
gonna have to wait and see, but I like what
we are starting to see here, guys. It's light at
the end of the tunnel now as it relates to
trend lines. Bitcoin has broken out above the post October
high resistance and here's zero heads. You're saying a retest
of ninety k's next. Could Bitcoin get as high as
ninety k It's possible, you know. That's one of the
things I've been highlighting that bitcoin can always overshoot. It
goes into the eighty k's before rolling over, but maybe
it overshoots and goes above ninety before rolling over. So
these are things to think about, and just again sharing
the different scenarios so you guys can be prepared for
what potential scenarios may play out. But this is a
very good sign breaking out of that trend line and
again signaling potential bottom maybe in or just a very
strong relief rally. Which will be good overall. Now big
players continue to accumulate. So Michael Saylor Strategy has purchased
another thirteen thousand, nine hundred and twenty seven bitcoin for
approximately one billion dollars at an approximate price of seventy
nine hundred and two dollars per bitcoin. And in addition,
overseas bitcoin treasury company Stack BTC they've added two point
seven million dollars in bitcoin to their treasury. So we're
seeing buying across the globe from digital ash treasury companies,
not to mention the ETFs. And speaking of ETFs, Morgan Stanley,
as you all know, launched their ETF last week. And
here on Nature Raci, who's a big ETF expert, I've
had him on the podcast many times. He highlighted that
on Morgan Stanley's investment management homepage they are now leading
with crypto, So you land on your website and it's
promoting crypto. How times have changed, and here Nate says
it is wild to see. Hunter Horseley, founder of Bitwise
Asset Management, tweeted out about this news, saying, by the
end of twenty twenty six, crypto will so obviously be
a mainstream asset class. It won't even be an interesting
topic anymore. This is a one way train. So this
is where I've been telling you guys. I'm believing that
once the market structured legislations pass. Here in the United States,
we have the largest capital markets. You have all of
these on rams, dats, ETFs, and other financial products coming
into crypto for institutions, not retail. Retail has the on ramps.
I'm talking big money, right, and it's happening across the globe.
And we have clarity and other legislation pass in other countries,
super cycle kicks off massive amounts of liquidity, massive amounts
of capital, and innovation happens. And I'm not saying we're
going to pump overnight to a million dollars a bitcoin, no,
but I think we're going to see a very very
strong crypto bull market plus incredible adoption. It's only going
to continue to ramp up because the rules of the
road will be clear. So I'm excited for once we
get out of this bear market, this brutal bear market,
and look, honestly, it hasn't been that brutal compared to
the previous ones, Like twenty twenty two was rough with
all the collapses, the companies that were collapsing FTX, lcs
and much more. I think now the macro factors of
the Iran war, tariffs, the economy, inflation, those things are
kind of weighing on markets. But it's not that we're down,
you know, at the same levels like we've seen in
the past. But you know that could be as a
result of we didn't have the same upside that we've
seen in the past bull market. So it's all relative, right,
So just got to be patient and have the long
term view. And if you have the long term view,
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thinking Crypto. The link will be in the description now, folks,
today we got a huge, huge update from the SEC.
So Chair Paul Atkins and the team continue to put
out a lot of guidance and rulemaking. So SEC proposes
certain crypto interfaces don't need to register as brokers. If
you recall Gary Ginster's tenure at the SEC, it was
all about these crazy rules that he was trying to
put into place, and it didn't apply to crypto and
DeFi and self custodia wallets. But you know, it's a
brand new day the SEC and things are moving in
the right direction. So the Securities and Exchange Commission has
issued a staff statement clarifying how the agency plans to
interpret software interfaces facilitating crypto transactions in its broker dealer regulations.
In a Monday statement the SEC's Division of Trading and
Market Staff said that under certain circumstances, interfaces that assist
users engaging in user initiated crypto asset securities transactions on
blockchain protocolsing the user as self custodial wallet may not
necessarily be required to register as a broker dealer with
the agency. This absolutely makes sense. So if you and
I are doing a peer to peer transaction, even if
it's a tokenized securities a type of assets, why the
hell would we need to register as a broker dealer,
right because we're doing peer to peer. So this is
really great guidance and so critical I think for the
future adoption of crypto as well as DeFi and you
know in the world we're heading in with tokenized assets
and fractionalization and much more so. The SEC statement specified
that self custodial wallets with such user interfaces may be
exempt from the registration requirements, provided that they do not
solicit investors to engage in any specific crypto asset securities transactions,
provide commentary on any potential execution routes, display to a user,
and other circumstances. Although the staff statement does not carry
the same weight as a proposed SEC rule, subject to
public comment and review. It is intended to provide greater
clarity on the application of federal securities laws to activities
involving crypto asset securities. It follows several others that the
SEC has issued following the inauguration of US President Donald
Trump in January twenty twenty five, leading to a new
leadership at the agency in what many have seen as
friendlier to the crypto industry. So this is really really great, guys.
I love what the SEC is doing here. Now here's
a quote from SEC Commissioner Hester Purse. While the staff
expressing its view is helpful, I favor a more permanent
regulatory approach that addresses the broker definition in light of
current market circumstances. So we obviously need more guidance, and
I think some of these things more fleshed out and
in a more concrete format. So it looks like this
is just a kind of a suggestive letter here, not
necessarily rulemaking. So we'll need the actual rulemaking, and maybe
they'll wait for the Clarity Act to pass to do so,
or maybe not. You know, I'll try to get cheer
Atkins on the pod to talk about all these things. Now,
on the legislation front, US lawmakers take another swing at
crypto tax policy with revised bill. So I believe once
the Clarity Act is passed, the next big item they
have to tackle is tax because man, there's so many
implications with staking rewards, with converting to stable coins, with
wanting to spend your crypto, those things are not ironed
out and the irs. You know, it's a bit of
a mess. So we need the Clarity here. We need
guidance to figure out how can people use crypto and
that would be significant for adoption as well. So Congressman
Stephen Horsford, Democrat out of Nevada, and Max Miller Republican
out of Ohio reintroduce their Digital Asset Protection, Accountability Regulation, Innovation,
Taxation and Yields. It's actually the acronym is Parody Act
late last month, seeking to update how the US addresses
crypto and taxes. Congress is going to address taxes in
general in the coming months, and crypto may end up
being a part of this. It's pretty important for anyone
in the US who owns any crypto at all, given
they have to report under Digital Asset holdings and transactions
so important. So the Parody Act was first released in
discussion draft form last December and re released on March
twenty sixth for further review. The most immediately visible change
appears to be the section addressing deminimus gains. Deminimous exemptions
generally allow for certain transactions to be exempted from tax reporting.
Under such an exemption, people don't have to report the
transaction or worry about the tax burden that might otherwise follow.
So we got to get this right. We got to
get this right. This will be so impactful for the
adoption and people being able to do different things with crypto. Now,
look at this news. Clear Bank secures MICA approval or
MICA approval targets Circle euro dollar stable coins for institutional clients.
So Clearbank Europe said it's the first Dutch credit institution
cleared under the EU's MECA rules to offer crypto services
and plans to offer circles Euro and dollar peg stable coins.
The approval lets the bank provide digital asset services without
a new license, enabling clients to convert between FIONT and
stable coins within a regulated clearing environment that could speed
up cross border payments. Clearbank will connect to circles Mint
platform for access to the eu RC stable coin and
USDC stable coin as part of a broader strategy to
link traditional banking infrastructure with digital asset markets in Europe
and the UK. Guys, look at what's happening. Banks across
the globe are doing tokenizing, launching crypto custody, crypto trading
and financial products, stable coins, tokenize deposits. The building is underway,
the on rams being set up, the network being built globally,
and as I've said many times, the feature capital, markets,
economies and governments will all run on blockchain rails. So
this is huge and further confirmation of where the puck
is heading. Here's another example. Broad Ridge rolls out crypto
tokenized asset platform for Canada wealth managers. So broad Ridge
Financial Solutions has launched a digital asset platform for Canadian
wealth managers, allowing companies to offer cryptocurrencies and tokenize assets
alongside traditional investments. According to Monday's announcement, the platform integrates trading,
custody and asset servicing, enabling firms to manage digital and
traditional assets within existing workflows rather than through separate systems.
It also supports both advisor led and self directed models
with connectivity to custodians and exchanges. The platform offers access
to cryptocurrencies and tokenized assets, including equities, funds and alternative investments,
with integrated wallets, institutional custody options, and connectivity to exchanges
and asset managers. So incredible stuff here, guys. And this
is again the puzzle piece is being put together here
and once legislation's fully in place, kicks off that super
cycle in my opinion. Now, final news item, Foundry launches
z cash mining pool. Not just twenty nine percent hashtrate
in the first month, now, Foundry, they've been doing a
lot of bitcoin mining, if I'm not mistaken. This company
is owned by the Digital Currency Group and they operate
a huge bitcoin mining pool. And the fact that they're
going after z cash or mining z cash, it's pretty
significant because we saw maybe was it three or four
months ago, z cash did really well because you had
this privacy narrative. If out there, could that narrative continue,
you know, this could be a sign that potentially as
we head into the next bullmarket, privacy continues to be
a strong narrative. And they're starting to mind this token
because obviously they can get a big return on it.
So something to keep an eye on. This is one
of the narratives I will continue to follow and research
and I'll share with you guys if I see. You know,
certain privacy focused tokens are going to start to take
off because we have been seeing from a broader perspective
that many different blockchains are looking to further build out
their privacy solutions, you know, even if they're not a
specifically a privacy focus chain, but they have to do
it because institutions want to use their blockchains. But institutions
need to make sure their information is secure, right, so
customer data and much more. And that's why I think
the privacy narrative could continue because if we're entering this
era of mass institutional adoption, privacy is going to be
a big part of it. Right. These companies don't want
to put their information at risk. They want to make
sure they can transact in a private manner. Folks. That's
the news. Let me know what you think. Leave your
thoughts in commons below, hit the thumbs up button subscribe
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All the links will be in the description. Folks, thank
you so much for tuning in. I appreciate you all,
and I'll talk to you all later