Companies Urged to Closely Monitor Crypto Market Volatility

[snoop1130]

 

BANGKOK (NNT) - The Securities and Exchange Commission (SEC) has warned companies that invest in digital assets and cryptocurrencies to have a risk management system in place to mitigate the impact of market volatility.

 

The SEC has issued circular letters to listed companies that invest in or use cryptocurrencies or digital assets, urging them to implement risk management systems to minimize the risk and impact of volatility in the cryptocurrency market. The companies are warned to make careful decisions to ensure that their digital investments do not jeopardize their financial positions or operating results, as these investments are vulnerable to cybercrime.

 

The SEC advised businesses to also set up a system to ensure the existence and proper use of digital assets, as well as that their business operations are in accordance with the regulations and measures. The regulating body will also request that the companies’ audit committees inspect and comment on the efficiency of their internal control systems for digital asset governance.

 

The SEC warning comes in the wake of the cryptocurrency market’s continued volatility, with its market value dropping by roughly 70% in seven months. As of 1 PM on Thursday, Bitcoin, the largest cryptocurrency by market cap, was traded at 22,011.01 dollars, down 68.1 percent in seven months from its peak price in November 2021. Ethereum, the second-largest coin by market cap, was trading at 1,187.61 dollars, down 75.4 percent in seven months.

 

-- © Copyright NNT 2022-06-16

 

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[GreasyFingers]

I was expecting to see posts from the crypto experts (pushers) that the fall is temporary and you should be buying now.

[wombat]

I'll say it again...when Thai Gold Shops accept crypto for gold then it is a legitimate currency.

Untill then it remains a pump and dump Ponzi scheme for the tech elite.

[lujanit]

If you are thinking of buying cyrpto take a look at Terra and Luna.  From market highs to virtually nothing in a few days.  High on 5 April ($117.95) to kaboom on 13 May ($0.0005615).

 

[Emdog]

I do find it almost humourus that crypto articles typically have photo of something that looks like a real world coin. Perhaps looks better than just some electronic pulses?

[Troy Tempest]

2 hours ago, lujanit said:

If you are thinking of buying cyrpto take a look at Terra and Luna.  From market highs to virtually nothing in a few days.  High on 5 April ($117.95) to kaboom on 13 May ($0.0005615).

 

I had a bloke spouting on to me about how great Crypto was....He asked, "Why are you wasting your time buying Gold and Oil ETFs"?....That was at the beginning of  February!....

 

Funny!.....He hasn't been in touch recently?

 

 

 

[worgeordie]

Bit too late of a warning , the horse has already bolted.

regards worgeordie

[RafPinto]

Let's see if they continue their "Bitkub" publicity at every corner.

[mrfill]

8 hours ago, GreasyFingers said:

I was expecting to see posts from the crypto experts (pushers) that the fall is temporary and you should be buying now.

They have gone remarkably quiet after their wild predictions of 6 months ago....

[GreasyFingers]

7 minutes ago, mrfill said:

They have gone remarkably quiet after their wild predictions of 6 months ago....

Maybe quiet and broke.