Commentary

Erik Hoel
Traders Magazine Online News

Will The Bitcoin Bubble Pop Or Will It Envelop Us All?

Guest contributor Erik Hoel asks the question whether the worst is over for bitcoin holders, or still yet to come, what is yet to come? And why.

Traders Poll

In your opinion, what is the biggest hurdle facing the blockchain?

Cost of implementation

17%

Too many systems available

23%

Not applicable to my business

3%

Uncomfortable with the technology

33%

Nobody else is using it

23%

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June 30, 1998

Draft Text of Proposed Rule Change

By Jeffrey L. Winograd

The following is a draft of the proposed changes in National Association of Securities Dealers trade-reporting rules for over-the-counter stocks, including stocks traded on Nasdaq, the OTC Bulletin Board and the pink sheets, as amended by the NASD. The changes would reduce 31(a) transaction fees on riskless principal trades, pending Securities and Exchange Commission approval. Deletions are in brackets, and new language is underlined.

A "riskless principal transaction" in which a member [that is, not a market maker in the security], after having received from a member or customer an order to buy a security, purchases the security as principal from another member or customer to satisfy the order to buy, or, after having received from a member or customer an order to sell, sells the security as principal to another member or customer to satisfy the order to sell, shall be reported as one transaction in the same manner as an agency transaction, excluding the mark-up or mark-down, commission-equivalent or other fee.

ART-