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  1. G20 Communique Crypto Excerpt

    Thanks @Tehol_Beddict I should have known you would find this!
  2. Press conference of the G20 presidency Crypto asset discussion begins @5:35 "...a lease upon which they can operate..." LOL "...changes are going to be faster and faster..." (no doubt!) Here's a bit more... What's New in the G20 http://www.g20.utoronto.ca/ G20 finance ministers and central bank governors issue communiqué and annex, Buenos Aires, March 20, 2018 Source: Official website of the Argentina's 2018 G20 Presidency https://www.g20.org/en/news/communique-first-g20-meeting-finance-ministers-and-central-bank-governors-2018 "Technology, including digitalisation, is fundamentally reshaping the global economy given its borderless and intangible nature, and its increasing ability to automate cognitive tasks. We are developing a common understanding of the nature of the changes and their potential implications. Transformative technologies are expected to bring immense economic opportunities, such as new ways of doing business, new industries, new and better jobs, and higher GDP growth and living standards. At the same time, the transition creates challenges for individuals, businesses, and governments. These include changes to labour markets, the growing importance of skills and adaptability, and the risk of increased inequality within and between countries. Policy responses, including international cooperation, are needed to harness the opportunities and ensure the benefits are shared by all. We therefore agree to develop a menu of policy options for consideration at our meeting in July." "Cross-border capital flows offer significant benefits, but their size and volatility may pose policy challenges. We will continue to monitor capital flows and refine our understanding of the tools to improve the resilience of the international monetary system. We recognise the importance of macroprudential policies in limiting systemic risk. We continue to deepen our understanding of capital flow management measures and the conditions under which they might be effective, taking into account country-specific circumstances. We are looking forward to further work by the IMF, based on the IMF Institutional View on Capital Flow Management, that will help inform country actions and to the results of the Review of the OECD Code of Liberalisation of Capital Movement." "We acknowledge that technological innovation, including that underlying crypto-assets, has the potential to improve the efficiency and inclusiveness of the financial system and the economy more broadly. Crypto-assets do, however, raise issues with respect to consumer and investor protection, market integrity, tax evasion, money laundering and terrorist financing. Crypto-assets lack the key attributes of sovereign currencies. At some point they could have financial stability implications. We commit to implement the FATF standards as they apply to crypto-assets, look forward to the FATF review of those standards, and call on the FATF to advance global implementation. We call on international standard-setting bodies (SSBs) to continue their monitoring of crypto-assets and their risks, according to their mandates, and assess multilateral responses as needed."
  3. Ripple: Big Long-Term Challenges

    Thanks for the great take down @cannylad nice analysis; I once thought the rating service was respectable, but that we 20-some years ago, and they've become shameless self-promoting shills.
  4. G20: Crypto to be labeled as Cryptoassets.

    So where is the leadership on these rules already? It's unprofessional to leave us all fumbling in the dark regarding something as important as blockchain... “Crypto is more an asset than a currency,” French Finance Minister Bruno Le Maire said in Buenos Aires. “If we want to move on and protect citizens from any kind of speculations or money laundering or terrorism financing, we need rules.”
  5. Three Reasons to be Bullish about Ripple

    Ripple/XRP wants more market makers, it's all for the good... "We have pretty good order books," Schlaefer told CoinDesk, "And we're in the process of working with some of the large market makers to draw that further."
  6. Wall St Bust to Crypto Rush Stars Ripple

    Thanks @Coin_Hound I haven't heard it stated quite like this before, but that's completely correct way to think about market cap... (bold emphasis is mine)
  7. "When prices slump, there is always a few number of investors willing to take a risk, acknowledging the advantage of the opportunity to purchase more cryptocurrency while values are cheaper."
  8. What if the worst case scenario actually happens.

    I like the way he summed it all up "Ripple has undertaken several partnerships with banks and financial providers around the world. Payment providers like Western Union, MoneyGram and Fleetcor are all said to be in the process of working with the world’s only blockchain solution for payments." "However, this week’s announcement by BBVA means that XRP is ready to move to the next level of adoption BBVA has a fine footprint in Latin America, Mexico and Europe. This means Ripple will have a chance to penetrate this market leveraging the Spanish banking giant." In terms of what it can achieve, Ripple (XRP) is making a case for themselves as the future of cryptocurrency. And this is just one more reason to continue holding onto your favorite coins.
  9. US Congress Report Regarding Cryptocurrency

    Regulators will first need to decide and agree upon what cryptocurrency is (page 224): "Future Regulatory Questions Solving the challenges cryptocurrencies and blockchains present will require unique solutions that balance the needs of consumer protection, security, and entrepreneurship. While it is impossible to determine precisely which rules, regulations, and guidance will result from this process, one thing is certain. Regulatory agencies will need to coordinate to ensure they do not work at cross purposes. America is already subject to a complex set of regulatory institutions governing financial products and transactions. As Perianne Boring of the Chamber of Digital Commerce highlighted, this regulatory web produced four different classifications of digital assets (commodity, security, currency, and property), which is not conducive an environment where entrepreneurs are enthusiastic about launching a startup." ... and hopefully they can accomplish their stated aim quickly! (page 225)- "Regulators recognized the need for coordination. In the Wall Street Journal, SEC Chairman Jay Clayton and Commodities Futures Trading Commission Chairman J. Christopher Ginacarlo noted: The CFTC and SEC, along with other federal and state regulators and criminal authorities, will continue to work together to bring transparency and integrity to these markets and, importantly, to deter and prosecute fraud and abuse.473 Outside the financial space, as noted above, other executive agencies such as NIST and HHS continue working towards standards that promote compliance without needlessly halting innovation. For cryptocurrencies and blockchain to further thrive, policymakers will need collaborative and innovative solutions that set the rules of the game without overly prescriptive regulations that constrain this emerging technology from reaching its full potential." "CONCLUSION Technology presents evolving challenges and generates new solutions. Blockchain technology essentially stores and transmits data securely, in large volume, and at high speeds. So far, the technology has proved largely resistant to hacking, and given this feature, developers first applied it to digital currencies. Yet blockchain has many more potential applications, such as portable medical records and securing the critical financial and energy infrastructure that the Report identified."
  10. Can Bitcoin Thrive Under China’s New Central Bank Chief?

    You forgot this part, since China currently has a complete ban on cryptocurrencies, and a very large market (and a population that arguably has a penchant for gambling) this could be a very positive development... "It’s possible that the pro-free market approach of Governor Yi and Vice Premier Liu could see the end of China’s strict regulation of cryptocurrency as it becomes the obvious choice for international financing."
  11. Newbie to XRPCHAT

    Despair? Did Ripple go out of business, or are they still flying around the world like their pants are on fire? https://ripple.com/insights/ Ripple Welcomes Cory Johnson as Chief Market Strategist https://www.cnbc.com/2018/03/08/ripple-hires-bloomberg-tvs-cory-johnson-as-chief-market-strategist.html?__source=twitter|main Johnson said he'll be splitting his time between San Francisco and New York. He's only been at the company for a few hours but already had one observation about his new co-workers: "These people move a thousand miles a minute around the globe like their pants are on fire." Oh, and welcome newbie, we're a lot of fun
  12. Are members here still buying ?

    There you go... that's what I wanted to say Sorry am out of likes for the day, but thanks @Cryptsycrackers
  13. On St. Paddy's Day it's the Irish what leeks
  14. Here's the problem with U.S. regulators in a nutshell... US Congress Divided On Crypto: From ‘Regulation Is A Wet Blanket’ To ‘Crypto Is A Crock’ "A coin by any other name..." "The lack of defined regulatory guidelines for the crypto space not only creates an environment in which legitimate companies must walk on eggshells for fear of running afoul of regulations. Part of the problems is that, as Lempres pointed out, there’s no unity among US regulators as to what a cryptocurrency actually is. For a given cryptocurrency, the SEC may consider it a security, while the CFTC considers it a commodity, the IRS considers it property, and the FinCEN thinks it’s money." "According to Mr. Lempres, ideally “the SEC and CFTC should be able to draw a line to determine whether a token should be treated as a commodity or as a security.” "Even among the panel of experts, there was some disagreement as to when a cryptocurrency changes from a security into a commodity. Van Valkenburgh, Rosenblum, and Brummer all agree that the Howey Test, a test created by the Supreme Court to determine if an asset is a security, is an appropriate way to evaluate a crypto token, such as those sold during ICOs. However, Rosenblum argued that after a token has been sold during an ICO and is, it was often unclear how the status of the token – often used as a native currency on a given platform while also be traded on exchanges – should be determined." "What everyone agrees on, however, is that the US government’s current inability to provide a regulatory clarity risks losing opportunities to other countries. To this point, Van Valkenburgh stated:" “If policy makers get the line between commodity tokens and securities offerings wrong, and if it isn’t made clear by regulators, it will destroy the viability of these innovations and cede leadership of this technology to the rest of the world.” https://cointelegraph.com/news/us-congress-divided-on-crypto-from-regulation-is-a-wet-blanket-to-crypto-is-a-crock