16 Cryptos Just Became LEGAL Commodities (Full List)

**DZ** (0:00)
This is Discover Crypto. We have a huge show for you today. We have Bitcoin currently breaking down in a head and shoulders pattern. We're gonna check the charts and see, have we completed the move to the downside? There's Drew coming in with the solo layout. How are you doing today, Drew?

**Drew** (0:13)
Doing good, 76 was resistance for sure. And you were showing me this pattern here. It feels good to be on the right track as far as the pulse of Bitcoin. And I kind of put some thoughts together on where I think the markets are gonna go in the Discord, but I'm actually pretty excited about TA right now, man.

**DZ** (0:33)
Oh, yeah. Oh, yeah. And folks, we got a lot of stuff to cover today. We have a huge SEC reclassification. They named specifically 16 altcoins. I found the list. I dug into the government documents. I buried it. I found it all the way on page 14 So you don't have to look for it, folks. We're gonna do all the legwork for you. Also, major, major day today. Jerome Powell, FOMC meeting. And we are gonna be streaming that later on in the afternoon. So it might be a little bit of a shorter show today. But let's go ahead and dive right into the charts. Like me and Drew, we were talking about this. See a little bit of a head and shoulder breakdown. I saw someone in the comments saying, oh, he thinks we bought them. No, the trend is bearish right now. And FOMC meetings have been bearish 48 hours later, seven of the last eight times. We're gonna check the data ourselves.
And looking here, we have a... I haven't measured this yet, folks. Let's see, have we hit the classic target? Now, this is 20 minute candles, a little bit of a head and shoulders pattern. And when it breaks to the downside, you can normally measure from the top of the head to the neckline, gives you a target. Oh, Drew, there's more room to the downside here. This is suggesting $71,000 almost to the penny there. So very interesting level to keep an eye out on. And so the pain, the pain may continue. The lashing may still commence, Drew.

**Drew** (1:48)
Yeah, that would make a lot of sense with what I was looking at on the charts this morning. $71,000 is what I feel like is the next likely bounce point for Bitcoin. Today is going to be pretty volatile with the FOMC meeting Jerome Powell. It's the we're getting near the end of an era where we can't blame all our problems on Jerome Powell, some guy running the Federal Reserve.

**DZ** (2:10)
Yeah, is it going to be Kevin Warsh? Is Kevin Warsh going to be the new boogie man or is he going to come out a little bit more friendly for crypto? So let's actually look at crypto as of right now, things are dumping. Things are dumping across the board, folks. Let me go ahead and get this and maybe this will fix what we're trying to do here. What's going on with this, Drew?

**Drew** (2:27)
I'll flip you to the top side. Bam! Now you're in. All right.

**DZ** (2:31)
I thought I was on the top side. I thought I was a top. Anyways, let's hit refresh. I should have showed you before just so we could see the drawdowns. Bitcoin now down 3.2%. ETH down 5%.
Now, BNB a little bit of a pullback. XRP with a little bit of a pullback. Solana, Solana potentially breaking structure. I'm going to show you a parallel channel. Solana just fell and it might be just the beginning of the pain for Solana. Cardano is also down 5%.
Hyperliquid, though, flat. One of the coins that we have been bullish on. So hyperliquid looking pretty good. And I also have a broken, potential broken structure on Canton. I'm going to be bringing Drew in a little bit later on that. Let me get into the main story right here. SCC, 16 altcoins, and this is the first post right here. So the Commission issued an interpretation that clarifies the application of security laws to crypto assets. A major step to provide greater clarity regarding the Commission's treatment of crypto assets. So if you don't know, there's two classifications for financial assets. You could be a commodity or you could be a security. The security is going to have a group of people working for your benefit. A commodity is going to be something that just kind of lays on the ground. A bushel of wheat, a bushel of corn, a barrel of oil, a gold bar, a silver bar. These are going to be commodities. When you're a security, you have a group of, let's just say, a network of people fighting to provide value for the holders. And we can go all the way back to an old case involving orange grove trees. I'm not going to do all that though. But if you're a commodity, there's a lot less legal loopholes. You have to cut through security. You have a lot more enforcement breathing down your neck. And so you want to be a commodity if you are a crypto. So the SEC says most crypto assets may not be securities under federal law. Now this is from Paul Atkins. And in this note, they said the interpretation of how assets should be treated would serve as an important bridge as lawmakers in Congress consider market structure legislation. Why does the SEC need to be an important bridge for lawmakers? Because these lawmakers are dinosaurs. They don't know the difference between a commodity and a security. They don't know the difference between Ethereum or Bitcoin or Chainlink or what staking is or what is DeFi or what is a stable coin. A lot of these are 80-year-old dinosaurs. They have younger staffers trying to tell them these things, but they got a lot of problems, so they're not going to dive into altcoin number 72 and really think about it cogently and be like, well, is this a security? Is this a commodity? These dinosaurs need this clarification. These lawmakers, they are not tied into crypto like we are. And folks, if you go ahead and smash the like button, we really would appreciate it because I'm about to reveal the 16 altcoins that they have listed out. Now, this is going to create a, use a lot of legalese here, coherent token taxonomy for digital commodities, digital collectibles, digital tools, stable coins and digital securities, and how a non-security crypto asset, aka ostensibly a commodity, may or may not be considered an investment contract under the SEC's purview. And this is from Paul Lackins. This is what regulatory agencies are supposed to do, draw clear lines in clear terms. And also, and then he throws some shots at Biden. It also acknowledges what the former administration refused to recognize. Most crypto assets are not themselves securities, and it reflects the reality that investment contracts can come to an end. This is the post that we are just sharing right there. And I found, you had to do a little digging here, folks. Maybe even a little bit more than a little digging. So you go to this hyperlink right here. It takes you to this press release. You go to this press release from the SEC. You're going to see commission interpretation. Remember, the dinosaurs need the interpretation from the commission. They don't, they're going to read this and be like, I don't even know what you're saying here. And so let's go to here. Let's go to the commission interpretation. After you go to this, then you see a PDF. Click on the PDF. Trust me, this is worth it. This is the payoff. Scroll down to page 14 Keep scrolling, keep scrolling. This is a giant document, by the way. What are we at? 61 Don't tell me it ends at 69 That can't, can it?