The US Gov Does it Again
This just goes to show, that although a correction was to be expected the SEC trying to regulate crypto currencies when they are a global phenomenon and decentralized by nature, can cause upheaval of insane proportions. I personally hope that we recover stronger than ever before, and I believe that we will, but the outlook is very tense for cryptocurrencies in general. If the SEC wins this lawsuit against XRP it will be devastating to the cryptocurrency community and movement at large, by setting a terrible precedent that Cryptocurrencies are in fact commodities and securities, rather than decentralized technologies and currencies!
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