The DAO group in Wyoming has bridged the gap between the decentralized market and the American regulators. The agency, which goes by CrytoFed, has stepped forward in filing with the SEC.
The form and method for the commission registration were promoted by plan number 38, which the Senate supports. With this registration, the organization will belong to an LLC.
CryptoFed to be first regulated crypto company in the US
Since the beginning of the year, DAO was notified that it could become the first LLC registered with the SEC. At first, it all seemed like a joke, but it was true, CryptoFed would be the first regulated cryptocurrency company in the United States.
The agency had to send only the requirements that the commission requested for the registry and wait for it to be approved. The wait was long, but after nine months, the organization has now been successfully registered.
Among the requirements asked of DAO was to provide information to the SEC about using cryptos and their plans. With this registration system, the SEC is looking to regulate cryptocurrency companies in earnest.
Although the commission had been impartial in regulating crypto, it appears to change its decision today. Like other cryptocurrency regulators globally, the SEC’s goal is to assert control over assets like Bitcoin.
As the registration progressed, the commission asked the decentralized body to register the tokens they use on the platform.
Ducat is registered with the SEC
Ducat could be regulated only by its fixed value in the DAO registration before the Stock Exchange Commission. According to the SEC, this token is used for basic transactions, paying for services, bank deposits, and accounting jobs.
Locke coin is classified as management crypto that serves for bets and locks. Both tokens could be legally used after the crypto organization’s registration is completed.
Wyoming is the promoter of regulated crypto platforms, and these actions may be expanded to other states. CryptoFed’s registration process with the SEC was motivated by the state senator announcements, who created a regulatory plan for cryptocurrencies for years.
After the successful registration, more crypto companies plan to start the SEC registration. This may be a new wave of registrations that will bring growth to the decentralized coin market.
Curve Dao Price Analysis: Is CRV Token ready to challenge the swing high of $2.74
- CRV Token price is currently observing an uptrend as evidenced by the macro support trend line
- The press time price of CRV/USDT is $2.08 established on the back of a 4.92% decline in the past 24 hours
- Despite the minor retracement, the CRV token shows stability over the support of the Golden Cross
CRV Token Price Trend is cruising in the right direction
CRV/USDT on TradingView
Despite the minor retracements that dragged along the price of the CRV token, the price structure remained afloat on the daily chart. While the current trend of the altcoin continues to strike under the chambers of the macro support trend line, the token price has retraced by an overall 19% since the bulls attempted to target the resistance of $2.55.
The 19% drop in price was safeguarded by the support of the critical Exponential Moving Averages. Regardless of the extensive selloff, the institutional buyers are confidently pumping the price as soon as it touches the macro support trend line. This proves that the current price trend of the CRV token is heading in the right direction.
To keep the uptrend ongoing, the price must bounce off from the trend line and break above the resistance of $2.13. This will provide confidence to the bulls, who will further aim to flip this level and reclaim it as a reliable support cushion.
This occurrence of this scenario marks as the first leg of a good long position, followed by a breakout of very critical resistance. Breach of this particular level will enable the bulls to aim for the swing high of $2.74.
CRV Token price sandwiched between the 100 & 200 EMA on the 4-hour chart
A brief inspection of the CRV price chart on the 4-hour time frame gives us a better idea as to what the current price action of the CRV token is up to. In addition to being submerged inside the ascending broadening wedge pattern, the 4-hour price structure is also sandwiched between the 100 and 200 EMA.
Barring an overextended sell-off, the token must steer clear of the impending bearish crossover between the 20 and the 100 EMA. The decreasing bar at the MACD histogram and the retracing RSI is displaying exhaustion amongst the sellers.
This increases the odds of a bounce off from the trend line, followed by the contradiction of the upcoming bearish crossover.