The SEC is headed toward regulation of all things Crypto.
"As the cryptocurrency market continues to move in a downward pattern in one of its worst bearish slumps in history, financial regulators are using the situation as an argument that the new asset class needs more regulation, including the United States Securities and Exchange Commission (SEC).
Specifically, SEC Chairman Gary Gensler has commented on the recent market downturn, using it to stress the “urgency” of the need to better regulate the industry and that “it’s an urgency about investor protection,” as he told the Wall Street Journal at its virtual CFO Network summit, in a video interview published on June 14.
According to him, the agency wants to introduce “the same kind of protections” that investors have on the stock market but which do not currently exist in the cryptocurrency exchanges and lending – referring to the recent scenarios in which the crypto lending platform Celsius halted all withdrawals and crypto exchange Binance did the same temporarily."
Plus, with Pillsworth only mining $6200 in Crypto for Q1. The price of Bitcoin has never correlated with the price of CCTL.
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