You may be reading a lot about this in the next few days and coming weeks, and what exactly the following means for the Cryptocurrency World - The 'Eliminate Barriers to Innovation Act of 2021' via the United States 'House of Representatives'. Is a sure slap in the face to The U.S. Securities and Exchange Commission aka SEC.
In case you did not know SEC were created following the stock market crash in the 1930s to protect investors and the national banking system... And pretty much have been a thorn in the side of Cryptocurrency ventures globally.
Passed virtually under our noses without much hype, this is quite a powerful tool for the Crypto World, as now SEC have to play on a more level playing field - oh you can bet SEC will try to get around this new Bill - but the question again arises.. What now for Crypto?
It seems SEC stepped on the toes of a few recently to stifle 'innovation' at platforms such as Lbry (Odysee).
Could this mean that an appeal wi be launched and a financial challenge made against SEC?
You bet it should... Even if it is a Protest Appeal, this should give confidence back to those that develop new projects with new technologies, to come back to the game and get back on a par with their work - many projects have been stopped in their tracks recently - namely via threats from SEC.
Without doubt SEC will now have to update what is an absolute diabolical business or regulatory practice which favours only one side of the fence... Oh how the tides have turned.
You can read more of the Act via the full pdf transcript and Act here.
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