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RE: The Long Arm of the Law Comes to Cryptos, SEC Issuing Subpoenas
I think as a whole crypto will be fine as it’s outside SEC reach. This could slow adoption though and for select individuals and companies it could be bad. Overstock is down roughly 5% since the news so it’s definitely taking a toll.
Some are saying it's designed as a preventive effort more so than actual enforcement. We'll see.
Agree though crypto will be fine. The market is up so that says everything.