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Matt Hougan ( Bitwise CIO ) stated that the market is undervaluing the historic turning point of SEC regarding crypto.
The speech on July 31 by SEC Chairman Paul Atkins left Hougan "stunned":
"The most bullish document I've ever read about crypto comes from the SEC Chairman."
Under Atkins, SEC:
- Remove prolonged lawsuits
- Launching the Crypto Project to create a clear legal framework
- Commitment to not suppress onchain market growth
Atkins also claimed:
- All assets ( stocks, bonds, USD) will gradually move to the blockchain.
- A super financial app could reach a valuation of 1 trillion USD
- DeFi will be supported for development with clear regulations.
Hougan:
"If I haven't reacted quickly enough, then the market certainly hasn't either."
#Crypto #SEC #BTC