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ThomasV

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  1. 0n 12/30/2019, the Federal Board of Governors approved modifications to the Federal Reserve Banks' National Settlement Service (NSS) and Fedwire® Funds Service to support enhancements to the same-day automated clearinghouse (ACH) service. Specifically: The National Settlement Service will close at 6:30 p.m. ET, one hour later than its current closing at 5:30 p.m. ET. The opening time for the National Settlement Service will remain at 7:30 a.m. ET. The Fedwire Funds Service will close at 7:00 p.m. ET, 30 minutes later than its current cutoff at 6:30 p.m. ET. The Fedwire Funds third-party cutoff will occur at 6:45 p.m. ET, 45 minutes later than its current cutoff at 6:00 p.m. ET. The opening time for the Fedwire Funds Service will remain at 9 p.m. ET on the previous calendar day. The Reserve Banks will modify their current practice of maintaining a two-hour window between the closing and the reopening of the Fedwire Funds Service to maintain only a 90-minute window. The Reserve Banks will raise the threshold for granting extensions to the Fedwire Funds Service closing time from $1 billion to $3 billion. The Reserve Banks, in consultation with the Board, will determine whether further increases to the threshold are warranted to maintain the regular and consistent open of the Fedwire Funds Service at 9:00 p.m. ET. The Board is amending part II of the Payment System Risk (PSR) policy to add a new 6:00 p.m. ET posting time for same-day ACH transactions, remove the current 5:30 p.m. ET posting time for ACH return transactions, and make conforming changes to the daylight overdraft fee calculation.
  2. Brad Garlinghouse good interview with Fortune. Covers much more than Libra https://fortune.com/2019/10/07/facebook-libra-cryptocurrency-ripple-ceo-brad-garlinghouse/
  3. WOW WOW WOW. Visa clearly saw the threat of XRP. now they ARE in the game. really big news.
  4. cased he referenced in the vid: https://en.wikipedia.org/wiki/SEC_v._W._J._Howey_Co.
  5. THIS IS HUGE!!!!!!!!!!!!! Listen to the way he explains this and how it is sold is important. I like the House example.
  6. I'd back my horse behind the IRS over the SEC any day of the week. The SEC is looking to be cut out of regulation and it scares them. The IRS just wants paid.
  7. cool. hope it works and avoids regulation problems and doesn't hurt ripple
  8. more along the lines of what I was thinking. I thought this case will be interesting as he was young at 54 and most of the legal world doesn't understand crypto. In addition there should be a "step up" in basis of the assets but a pretty hefty Federal and state tax due (In 2018 the federal Estate Tax Exemption is 11.2 million for an individual or 22.4 million for a married couple so did the divorce settle is valuable) Estates whose value exceeds the exemption amount are taxed at the federal estate tax rate of 40% in 2018. Bill is due 9 months from death. Holding these assets in trust would have been better but not sure if even done. just things to keep in mind as this market evolves in the legal and financial worlds.
  9. NOT meant that way at all. More curious how estates are settled in relation to crypto assets passing through the estate
  10. Maybe some good comes of this when they try to settle this estate. As someone that knows a thing or two about estate transfers and the financial implications this one will be fascinating. I wonder if the divorce he was going through was finalized and WHERE are those private keys...... https://pagesix.com/2018/04/16/banking-heir-matthew-mellon-dies-in-rehab-facility/?utm_source=maropost&utm_medium=email&utm_campaign=nypdaily&utm_content=20180417&mpweb=755-6599133-711672763 Warning to others. Be very careful with wealth. Your health is far more valuable.
  11. It was 10-cent of Friday as I recall but good to have you back.
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