sec chair gary gensler has some plans for cryptocurrency that i think all dogecoin holders need to know about so this is what we'll talk about in this video hello guys and welcome back to crypto fire where we talk about dogecoin cryptocurrency and investing before we go any further please keep in mind that we're giving away a hundred dollars to a random subscriber all you have to do is like the video subscribe and leave a comment on your favorite cryptocurrency read our description for more info about it now let's get started with today's video gentler is planning to regulate all cryptocurrencies including dogecoin he thinks currently in crypto investor protection isn't as guaranteed as it should be he's worried about the investors because he thinks crypto assets are prone to fraud in scams also according to him investors don't get complete and balanced information about their crypto assets even though many tokens are offered and sold as security but gentler says many of these are unregistered that's why he thinks it's important to take on the duty of protecting the investors so to make the crypto space more secure chairman gary gensler announced on tuesday that sec wants to oversee the crypto sector they want to work work with congress and any other regulators from all around the world for that they have decided to regulate the cryptocurrency market to the maximum extent possible and to do that they also want to contact congress for more scope and resources to do it more efficiently but don't let his words scare you into thinking your investments aren't secure at all to quote his exact words he also said that if somebody is raising money selling a token and the buyer is expecting profit based on the efforts of the seller that fits into something which is security that transaction is secure in any case i think dogecoin is secure why i think that is because of the follow-up events after gentler's statement a few days after it the cftc commissioner brian clinton's tweeted about it he said that the sec has no authority over any crypto assets all the pure commodities like gold oil or even crypto assets fall under the jurisdiction of the cftc the cftc has the power to prosecute any fraud that takes place in the crypto space also the cftc has been taking action to ensure investor protection relating to crypto assets for many years however i think we also have to empathize with sec on this because you know they're regulating cryptocurrency for all the right reasons it's for us investors they're just trying to protect our investments from fraud and make them more secure the previous year 137 million dollars worth of cryptocurrencies was seized by the us government well this time it's even worse only seven months have passed and 1.2 billion dollars worth of cryptocurrencies has been seized already that's a huge jump from last year so in a nutshell i think all cryptocurrencies including dogecoin obviously would be a lot safer if regulation does end up happening it's probably a great option because more money will be brought into the crypto market for sure and it would definitely be nice for dogecoin in the long run anyway moving on to some other news according to legrace contributor michael van de popp thinks resistance is about to follow for bitcoin and ethereum he doesn't think there's any reason to expect a bullish trend right now but it's okay that's just one prediction other predictions are quite more bullish than this one so don't worry the crypto analyst wrecked capital tweeted his predictions recently he thinks bitcoin is doing everything right according to him there's no reason to think the price will fall again actually he's expecting a breakout and obviously a breakout in bitcoin means great things for dogewoin as well so that's a reason to be excited but that one price prediction isn't the only bullish news today we know about all the new bitcoin exchange traded fundings well thanks to those and the successful launch of ethereum's london hard fork bitcoin's price has gone up by nine percent not just that ethereum's price has also gone up by almost 12 percent it has also significantly increased the market cap and dominance rate of bitcoin with the bullish trend of bitcoin we have seen an increase in dojoin as well and we can definitely expect to see more growth especially because more exchange-traded funds are about to follow french asset manager melanian capital has also gotten approval for an etf it will be launched across the european union the fund will be listed in paris on the euro next with a fee of 0.75 these funds aren't the only prominent factor making the crypto market grow another huge factor is the growing number of companies that are accepting payments in crypto now that's mainly because the number of crypto users has increased quite a lot and they want to use it for payments recently more than 8 000 u.s crypto consumers were surveyed 93 of them said they would like to make purchases in the future using cryptocurrencies also besides the increasing demand it's also a great option on its own the privacy and security of payments would be a lot more than a traditional card or bank payment thanks to the blockchain technology of cryptocurrencies every day we're seeing a new company that has started accepting crypto payments or is planning to do so xiaomi is another company that has joined the club now the portuguese branch of xiaomi has started to accept payments in bitcoin ethereum and other cryptocurrencies soon enough dojoin might be an option too they think it's a great option as they're a technological brand they want to give technology fans to also pay using the most technological money so the day isn't far when you could use your dojoin to go and buy a burger or get a cup of coffee talking about mass adoption the cryptocurrency exchange coinbase has enabled payment with apple pay and also instant cash out of up to one hundred thousand dollars per transaction also the instant cash out service will be available twenty four seven not just that they are also planning to enable payments with google pay as well later this fall anyway let's look at dogecoin price for a minute now with a rise of 17.7 percent in the last 24 hours dojoin is currently trading at 24.3 cents if this growth persists we might see doge reach the all-important level of one dollar this year i mean for something that started as a meme dogecoin has definitely had some amazing growth it's among the top eight cryptocurrencies right now and has a market cap of more than 25 billion dollars and it seems like the growth hasn't stopped yet for one we've seen how bitcoin has started being used as a payment option in many real estate and automobile stores well dogecoin is following right in its footsteps and has started to be used as a payment method as well a utah homeowner placed a property of his for sale and listed the price as a total of three hundred eighty nine dollars and the homeowner decided to give a ten percent discount if the buyer would pay in dogecoin even though it's a small step it still gives hope for a huge dogecoin growth another platform using dogecoin as payment is the dog walking app wag that has started using dogecoin and ethereum for payment through bitpay if we keep getting bullish news like these we can perhaps see dogecoin becoming as big as bitcoin and the immense support from elon musk definitely makes it way more probable and with that we've come to the end of this video thanks for watching till the end if you enjoyed it please consider liking and sharing it with your friends also please subscribe to the channel and turn on post notifications for daily videos on dogecoin and cryptocurrency if you have any questions or suggestions please leave them in the comments section below goodbye take care

You May Also Like