SEC Flashed Green light to all US Banks
The US Crypto thaw continues as the Securities Exchange Committee (AKA SEC) qualifying US Banks as BitCoin Custodians. This took place on Nov. 9th '20 it recognized all US Banks as qualified custodians.
So, does this really matter? Not really this act was originally passed in 1940 and Banks are not innovators they are not incentive to be innovators they make their fortunes off derivatives.
Changing gears - what is important is WY Senate Elect Cynthia Lummis stated that she wants to place BitCoin at the top of the Political debate. She was recently on a US morning TV show 'Good Morning America' where she was speaking to the benefits of BitCoin. The take-away is she spoke about the value of BitCoin in terms of a store of value to potentially millions who may or may not of understood. The key is she has planted the seed and there is hope that they take the initiative and nurture that seed not bury it. Additionally, she stated that she is willing to make BitCoin at the top of Political debate which is important to advance America out of the 1970's era. Perhaps it will work, perhaps not, I hope for the latter! If not the USA will be lost to the sands of time!
Summary
The SEC moved the ball an inch, meanwhile Senate Elect Lummis is taking HUGE strides publicly even prior to taking office.
Enjoy the Journey!
