Implications for Ethereum and VC Spectra Valuations

The post Implications for Ethereum and VC Spectra Valuations appeared on BitcoinEthereumNews.com.

Following the signing of the Digital Financial Assets Law by Governor Newsom of California, the crypto space waits to see the implication of the Law on Ethereum (ETH) and VC Spectra (SPCT). As investors continue in their quest for the best crypto to buy in Q4 2023, let’s see what market analysts are forecasting.  >>BUY SPCT TOKENS NOW<< Summary Gavin Newsom’s signature confers enforcement and rulemaking authority on California’s DFPI. Experts say Ethereum (ETH) could surge to $1,900 by November. VC Spectra enters Stage 4 of its public presale at $0.055, exceeding experts’ projections. California Governor Signs Digital Financial Assets Bill Into Law On October 13, Gavin Newsom, Governor of California, signed a crypto licensing bill slated for enactment in July 2025. The Digital Financial Assets Law, widely regarded as California’s counterpart to New York’s “BitLicense,” faced substantial industry opposition but secured approval from the state’s Assembly in September 2022. Under this legislation, the California Department of Financial Protection (DFPI) and Innovation is mandated to construct a comprehensive regulatory framework for the cryptocurrency domain. This framework includes the establishment of a licensing system and also bestows enforcement and rulemaking authority upon the Department. Additionally, the DFPI is given an 18-month period for implementation. This will allow for a carefully tailored approach that accommodates evolving industry trends and safeguards consumer interests. Many industry experts have discussed the implication of this development on several top altcoins like Ethereum (ETH) and VC Spectra (SPCT). Let’s delve in to see their forecasts. ETH Price Prediction: Ethereum Likely to Decline Following Newsom’s Assent Following the landmark signature, Ethereum (ETH) surged by 3.12% from $1,552.09 on October 13 to $1,600.53 on October 16. Interestingly, this surge followed a week of bearish performance from Ethereum (ETH), as this top 10 altcoin dropped from $1,645.83 on October 6…