Crypto Assets Becoming More Attractive to New Investors Following SEC Crackdowns: Report
The U.S. Securities and Exchange Commission’s (SEC) aggressive moves to enforce regulations in the crypto space are having a positive impact on new investors, according to a Bloomberg report.
Citing a new MLIV Pulse survey, Bloomberg says that 60% of the 564 poll respondents see the recent US regulatory enforcement actions as being beneficial for crypto assets.
Some of the SEC’s recent regulatory actions include opening an investigation into all crypto exchanges based in the US.
Earlier this month, news broke that the SEC had reportedly started an investigation into Yuga Labs, the creator of the NFT (non-fungible token) collection known as Bored Ape Yacht Club.
The SEC also slapped a fine of close to $1.3 million on reality television star Kim Kardashian for promoting the EthereumMax (EMAX) token on Instagram without disclosing she was paid to do so.
According to the Bloomberg report, survey respondents are divided on how they view crypto. The report says that about half of the survey’s respondents believe that crypto is the “future” while the other half see the nascent asset class as a “Ponzi.”
On the likely price of Bitcoin (BTC) till the end of the year, nearly half of the survey’s respondents expect the flagship crypto asset to oscillate between $17,600 and $25,000, according to the report.
Bitcoin is trading at $19,299 at time of writing.
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