‘Upside down world’: How crypto thrives even after attacks
. The SEC argues that much of crypto should be subject to the same rules that govern stock and bond trading in the U.S., an approach the agency has taken since the Trump administration.
But while words of caution from major financial regulators might usually spark panic in a market, crypto has been unfazed. “People oftentimes seem baffled by the twisty-turny path that digital assets have taken in both the law and in the markets,” Kraken Chief Legal Officer Marco Santori said. “For some, it’s a source of entertainment, and for others, it’s a source of bewilderment. The reason for that is because crypto is not about the law or the markets. Crypto is a technology. It’s a groundbreaking technology.”
In recent weeks, BlackRock, Invesco and other major financial institutions have applied with the SEC to launch bitcoin exchange-traded funds, or ETFs. ETFs are baskets of securities, commodities or other assets that trade like stocks and are widely popular with ordinary investors.
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