U.S. authorities to heighten their surveillance of the cryptocurrency industry in 2023The Securities and Exchange Commission (SEC) has debuted a game-show initiative to assist investors in thinking critically “in a playful manner” before investing.
The Investor education and advocacy department of SEC rolled out a game-themed program. The program known as Investomania is keen on helping investors in logical thinking before investing. The SEC initiated the campaign to fight the continuous scam cases that affect investors.
SEC said that the campaign is categorized well. First, the action contains a 30-second TV spot. Besides, there are interactive questions as well as short clips containing crypto assets videos.
The game entails two contestants and a Tv host. First, the host directs the contestants to pick a square on a game board. Then, the game board indicates several investment options, including celebrity endorsements, internet rumors, and guaranteed returns. Other options include crypto to the moon, meme stocks, tulip bulbs, market timing, and guaranteed results.
Among the 15-second videos was on crypto investing. A celebrity in the video assists investors in following their advice and purchasing crypto assets.
Following the contestants’ decisions, the video depicts the repercussions of a good or bad choice in a fun and humorous manner. Investing might look and seem like a game. Our social service effort, ‘Investomania,’ uses a game show concept to instruct investors in a fun way. They should use prudence when making investment decisions because venture capital is not a matchup.
The SEC
The securities watchdog concluded that no one should play games with their investments.
SEC keen on crypto rules
The SEC proposed new bitcoin bookkeeping rules to safeguard crypto assets held by businesses. Several businesses carry cryptos to their clients. Thus, the input is to reduce the risk associated with scams. The move is sensible since it will protect users from losing money to attacks.
The SEC said there are risks with safeguarding crypto assets in a new accounting bulletin. They noted that crypto assets rapidly come up for sale and prices, making them distinct from defending more than standard finance assets.
The regulatory authority also stated that exchanges and businesses carrying crypto assets on behalf of users are subject to far fewer regulatory requirements. So that they may not be compliant with regulations properly, posing a risk to investors.
The agencies and their agents may protect the platform user’s crypto-assets. Besides, they can maintain the data encryption’s necessary details to access the crypto-asset. The duties linked with these arrangements include technological, legal, and regulatory risk factors. There are no present styles to protect assets that are not crypto-assets.
What do new rules mean for crypto?
Some people are cautious about bitcoin regulation. Yet, there are several reasons why people should welcome greater crypto regulation and monitoring.
According to many analysts, more rules might improve market stability and the price fairness of cryptocurrency. Besides, it can improve market investor protections and prevent fraudulent conduct inside the crypto ecosystem. Moreover, it provides clear advice for businesses looking to innovate in the crypto economy. While crypto traders should not make any rapid changes due to Gensler’s remarks, it serves as a reminder that greater regulation is on the way.
The foundations of bitcoin investing remained unchanged. Experts advise investors to focus on Bitcoin and Ethereum, the two most popular cryptocurrencies. They have a better track record of gaining in value. Even though they are incredibly volatile with daily and hourly price variations, they remain perfect.
Users should ensure that their BTC investments do not interfere with other important financial goals. They must spare emergency savings and retirement planning. Experts advise investing no more than you are willing to lose, or even less than 5% of your natural assets.
When buying and trading cryptos, it is best to go with a significant, high-volume exchange like Coinbase or Gemini. The platforms proactively conform to changing federal and state regulations.
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