Clarity Act

So, Cryp­to is up and it is up a lot…

The Clarity Act. 

What does it do or (Hope to do) 

Clar­i­fy­ing Juris­dic­tion:

IF they can pass it,  The CFTC, (Com­mod­i­ty Futures Trad­ing Com­mis­sion) will have pri­ma­ry juris­dic­tion over dig­i­tal com­modi­ties where cryp­to is “deemed to NOT be a Secu­ri­ty) (which is most of cryp­to today. 

The SEC would retain its author­i­ty over dig­i­tal assets that “Qual­i­fy” as secu­ri­ties, with a focus on those sold as invest­ment con­tracts. 

Take a look at the full text, (some things are like­ly to change) 

Do a search for “what is the clar­i­ty act” for more mean­ing­ful infor­ma­tion. 

There are also pro­vi­sions for pro­tect­ing con­sumers, from devel­op­ers who (pull the rug on so many well mean­ing con­sumers) 

All of this is good but who knows what the final ver­sion will be like. 

This is why we are see­ing a nice surge, (not finan­cial advice) but over the last few months we have Seen a clear trend where in the week lead­ing up to the FOMC we could see a down trend, usu­al­ly 5 to 7 per­cent.  

This may not hap­pen this time, though it is like­ly that we will see a sell off on the stock mar­ket fol­lowed by a mild liq­ui­da­tion of lever­age cryp­to traders. 

have a plan do the research make your plans and be care­ful.

Over the next few months there will be thou­sands of new Cryp­to investors some will invest sig­nif­i­cant amounts and oth­ers a few dol­lars or a few hun­dred dol­lars and they all have one thing in com­mon.

They want infor­ma­tion because cryp­to is con­fus­ing.

There are a lot of good resources out there but they also usu­al­ly have some­thing in com­mon they are try­ing to sell you on buy­ing into their favorite cryp­to project.

Be care­ful of Scam­mers.

There are scam­mers every­where.

There are peo­ple that will tell you they can help you…

Don’t believe them.

The old say­ing goes here, IF in Doubt leave it Out…

BE care­ful out there and stay safe.