Here is what we have for today🔥

• ⚖️ SEC picking and selecting securities

• 🔥 Robinhood delists crypto labeled as “securities”

• 📉 Altcoin bloodbath

SEC picking and selecting securities

Former SEC Cyber Chief, Robert Cohen, has raised concerns about the selective enforcement practices of the Securities and Exchange Commission (SEC), emphasizing the perceived unfairness and real impact on individuals and businesses within the cryptocurrency industry.

Cohen highlights that while the SEC has labeled only a few cryptocurrencies as securities, numerous others remain unmentioned, leading to an inconsistent approach in regulatory enforcement.

This selective treatment creates a sense of suspicion and implies wrongdoing on the part of token issuers who are subject to SEC scrutiny.

The randomness in the SEC's selection of tokens for prosecution is seen by Cohen as an unfair practice. He argues that if the SEC is to establish rules and regulations, they should be applied uniformly and affect all parties equally.

Additionally, Cohen suggests that the SEC should allow for public comment and engagement to ensure transparency and fairness in the regulatory process.

Cohen's criticism reflects a call for consistency, clarity, and equitable enforcement within the cryptocurrency industry. The discussion surrounding the SEC's approach to regulating cryptocurrencies continues to evolve as the industry seeks clearer guidelines and a level playing field for all participants

Robinhood delists crypto labeled as “securities”

Robinhood (HOOD) has announced that it will no longer support

• Cardano (ADA)

• Polygon (MATIC)

• Solana (SOL)

Starting from June 27th.

The decision is part of Robinhood's regular review of cryptocurrencies available on its platform.

Support for these tokens will cease precisely on June 27, 2023, at 6:59 PM Eastern Time. Users who still hold ADA, MATIC, and SOL in their Robinhood accounts after the deadline will have their tokens automatically sold at their respective market values.

While Robinhood has chosen to delist these tokens, the platform will continue to offer trading services for 15 other cryptocurrencies. Notable options include bitcoin (BTC), ether (ETH), dogecoin (DOGE), and avalanche (AVAX), among others.

It is worth mentioning that both Solana and Cardano have rejected claims of being securities, asserting their belief that they should not fall under regulatory scrutiny.

On the other hand, Polygon has not provided any official comments on the matter.

Robinhood's attempt to register as a special-purpose broker for digital assets faced challenges, as the platform struggled to obtain clear guidance from the U.S. Securities and Exchange Commission (SEC) regarding crypto compliance.

Altcoin Bloodbath

The altcoin market suffered some major losses yesterday after the announcement of Robinhood’s delisting of said tokens above.

This comes after the pressure that was given from the SEC lawsuit with Binance and Coinbase.

Is this a good time to buy?

Well, no one can say this for certain, however, we at Asterials see it as a buying opportunity if you ever wanted to own a certain portion of tokens.

Dollar-cost averaging (DCA) into these assets could possibly place you in a great position for the next bull market.

Bitcoin and Ethereum still held relatively strong which goes to show that they are great assets to hold during this volatile period.

Change your perspective, if these assets were going up would you buy them?

If so why not buy when they are cheaper?

✨Bonus News✨

• Trump fights back. He goes on to attack the special counsel

• S&P 500 climbs back to the bull market? Well the FED is in full focus next week.

• Binance & Coinbase head to court. SEC labels 67 crypto securities.

Disclaimer: This is not any kind of financial advise. This newsletter is solely informational; it does not constitute investment advice, a solicitation to buy or sell any securities, or a recommendation regarding how to manage your money. Be cautious and conduct your own study, please.