23rd April 2026 > > The IMF, the SEC, tokenisation, & the bull.
- 3 hours ago
- 3 min read
tl;dr
The SEC has fired the starting gun on wholesale adoption of the opportunities offered by tokenisation. Bull market signals wherever you look.
Market Snap
Market Wrap
Seven consecutive days of spot BTC ETF inflows totalling nearly $1.9bn is a very promising sign. BTC reached $79.5k so don’t be surprised to see an 8-handle soon potentially triggering a violent short squeeze, which would be fun to watch.
Occasional Series – Just sayin’ is all
I am one proud, so very proud, Dad.
Occasional Series – The technocratic elite
The latest forecast from the IMF is that global growth for 2026 will be 3.1% whilst inflation will be 4.4%.
Does this matter?
On the most important level, no, of course not. It’s a ridiculous question.
The IMF is merely a vehicle used to embed and enhance the technocratic hegemony of those fortunate enough to be employed in those roles. I use the word “fortunate” in the narrowest sense of the word. Sure, all those technocrats get paid a load of dosh, often without paying the taxes they demand of us mere plebs, they cannot be fired, and they enjoy the fattest of full fat pensions after a lifetime of adding nothing, zilch, nada of benefit to humanity.
And that is why they are not so fortunate after all – their brief sojourn on Earth wasted on technocratic nonsense instead of using that short and so precious time to be productive, hopefully with achievements to show for it.
I do feel deeply, so very deeply, sorry for every single employee who finds themselves wasting their potential at the IMF, and their ilk.
…
But, in another way, this does matter.
If growth measured in fiat is lower than inflation measured in fiat, then taken together there is no growth, it’s recession.
But that is too awkward for any politician to acknowledge, so we ignore the reality of life, whilst simultaneously ignoring the IMF. One of those outcomes is the right one.
Curious Cryptos’ Commentary – The SEC and Tokenisation
Paul Atkins, Chair of the SEC, is once again proving his worth:
I wholeheartedly recommend reading the speech in full, but if regulatory developments don’t float your boat, here are the key quotes:
“Indeed, over the years, the SEC’s rules have multiplied faster than the problems that they were intended—or purported—to solve. Our requirements have tended to grow in scope without a commensurate gain in clarity or effectiveness. And the cumulative effect of the Commission’s losing its focus on economic materiality as its guiding light has been to introduce friction where entrepreneurs depend on clarity, and uncertainty where markets rely on confidence.”
And again:
“The agency charged with stewarding the world’s greatest capital markets had become, in many respects, an imposing obstacle to them.”
Paul is taking aim at the bureaucratic mindset that used to infest the SEC, a mindset that is no longer welcome on his watch.
Regarding cryptos, Paul is rightly self-congratulatory:
“I launched Project Crypto to modernize the securities rules and regulations to facilitate markets’ moving on-chain. Most recently, we delivered long-overdue clarity by publishing a crypto-token taxonomy that distinguishes between five categories of digital assets, four of which are not securities.”
And this exciting news:
“And we are on the cusp of releasing what I call an “innovation exemption,” which will provide market participants with a cabined framework to begin facilitating the trading of tokenized securities on-chain in a compliant fashion as the Commission works toward long-term rules of the road.”
This clears the route for TradFi firms to launch trading products for tokenised securities allowing for instantaneous settlement allied with market access 24/7. More importantly, tokenisation forces the democratisation of the investment world – retail investors will get access to the same investments at the same price as institutional investors in whatever size suits the investor. This will materially lower the cost of capital, improving productivity, helping everyone to be richer than before.
None of that is possible without blockchain technology and cryptos. Boy, we are lucky.
Curious Cryptos’ Commentary – CryptoQuant Bull Score Index
CryptoQuant reports that its Bull Score Index has turned bullish, reaching the highest levels since October. Should we care? Well, a mapping of the BSI to the price of BTC does rather suggest we should:
Comments