Saylor predicts SEC will reshape crypto trading by targeting altcoins
Michael Saylor, the entrepreneur behind MicroStrategy's transformation into a Bitcoin leader, has once again captured attention. This time, Saylor has turned his focus to criticizing significant altcoins.
Recently, Saylor predicted that the SEC would take strict measures against altcoins like ETH, BNB, and others. Additionally, Saylor claimed that these altcoins would not be included in future financial products such as spot ETFs.
Altcoins won't compete with Bitcoin
Saylor forecasted 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 alter how institutional investors trade and recognize these coins.
Saylor's stance is a result of his pro-Bitcoin attitude, and recent SEC activities somewhat support his predictions. As we know, the SEC has taken tough measures against major crypto exchanges, imposing hefty fines. These measures have even paved the way for the possibility of CEOs like in the case of Binance being jailed.
These moves indicate that crypto regulations that could support Saylor's views are becoming even stricter.
Saylor's comments have triggered concerns among altcoin supporters about potential SEC pressure that could impact the broader market. However, there is hope that the SEC could focus on real issues by targeting unregistered securities instead of established cryptocurrencies like Ethereum.