The last two or three years really showed us the true face of the white house. You see the SEC answers to the white house but the house passes the laws of which the SEC can follow and from that the court system holds everything in check based on the current laws and only the current laws there's simply no grey area.

This is why over these years we have seen a lot of aggressive action from the white house and SEC of which at first everyone rolled over and paid their fines mainly because they knew they were in the wrong and it was an easy way to get out of it.

Once the SEC started to scale up and attack large corporations the tables quickly turned. These companies now had the fans and manpower to fight back the SEC and take them to court which is a very expensive endeavor. What's come of it is continued case after case of the SEC losing.

ETFs

A main focus this year was large investors and corporations to open up what is know as a Spot ETF. A spot ETF unlike other ETFs for crypto currently actully buys and trades the asset which would increase or decrease the price of the token. Futures trading is simple a bet in FIAT money.

With this push we have seen the SEC do EVERYTHING they could to delay and offset the approval process and they have pretty much gone down to the wire. While some people feel we will have a spot ETF approval come mid January of 2024 now just a month away others like myself figure the SEC will just find another reason to delay things once again. My hopes on an approval are extremely low.

Coinbase Offers Spot Trading

Coinbase is at the forefront of the battle with the SEC at the moment. Because of such they are expanding their operations over seas. Starting on Thursday meaning tomorrow Coinbase will allow institutional customers to trade bitcoin and ether against the USDC. Retail investors will have to wait a few months. However this is only outside of the USA.

This move is big and pushes the USA currently way out of line for being the dominating factor in the crypto world. This in a way is a good thing as it's decentralizing it across the world creating a more even playing field. However on the flip side it's a bad thing for the USA as it's quickly losing its dominance in a number of areas and crypto is just another peg to add to that list.

These constant pushes are a good thing and should start to force and push the hand for real fair regulation besides simple putting up a wall that has been happening for the last few years.

Early 2024 is going to give us some good insight as to the future of crypto and the pace at which adoption is going to happen.

Posted Using InLeo Alpha