According to a Bloomberg report, the US Securities and Exchange Commission’s (SEC) aggressive move to tighten regulation in the cryptocurrency space is having a positive impact on new investors.
Citing Bloomberg’s new MLIV Pulse survey To tell 60% of 564 respondents believe recent US regulatory enforcement actions will be beneficial for crypto assets.
The SEC’s recent regulatory actions include opening an investigation into all US-based cryptocurrency exchanges.
Earlier this month, news broke that the SEC had launched an investigation into Yuga Labs, creators of a collection of NFTs (Non-Fungible Tokens) known as the Bored Ape Yacht Club.
The SEC also fined reality TV star Kim Kardashian nearly $1.3 million for promoting the Ethereum Max (EMAX) token on Instagram.
According to a Bloomberg report, survey respondents were divided in their views on cryptocurrencies. About half of the survey respondents believe cryptocurrencies are the future, while the other half see the emerging asset class as Ponzi, according to the report.
Nearly half of survey respondents expect the flagship crypto to float between $17,600 and $25,000, according to the report.
Bitcoin is trading at $19,299 at the time of writing.
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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should exercise caution before making risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your money transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. The Daily Hodl participates in affiliate marketing.
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