Michael Saylor: “SEC Will Target Major Altcoins”
Michael Saylor, the entrepreneur behind MicroStrategy's transformation into a Bitcoin leader, is back in the spotlight. However, this time Saylor's focus turned to criticizing major altcoins.
Recently, Saylor predicted that the SEC would crack down on altcoins like ETH, BNB, and others. Additionally, Saylor suggested that they would not be included in future financial products such as spot ETFs.
Saylor predicted that the SEC would not approve Ethereum ETFs and expects the SEC to reclassify altcoins as securities and change their commodity status. This will significantly change how institutional investors trade and recognize these coins.
In addition to Saylor's stance being a result of his pro-Bitcoin stance, the SEC's recent activities also support us to have some confidence in his predictions. As it is known, the SEC took harsh measures against major crypto exchanges and imposed heavy fines. The measures even paved the way for the CEO to be imprisoned in Binance's case.
These moves show that crypto regulations are becoming stricter, which may support Saylor's views.
Saylor's comments triggered concerns among altcoin supporters about a potential SEC crackdown affecting the broader market. But there is hope that the SEC can focus on real issues by targeting unregistered securities rather than established cryptocurrencies like Ethereum.
The coming weeks will be very important to see these developments.
