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New SBI presentation: SBIVC to go live after regulation amendments, Ripple-Money Tap investment being considered

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2 hours ago, stickmonster said:

"noxious hard forks" :-)

clearly, who would want to be involved in something like the bitcoin cash debacle. It's a major advantage for Ripple with the team working behind the protocol.

 

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9 hours ago, PunishmentOfLuxury said:

What if the relevant legislation is not passed by the Diet by late July? Preparing myself for yet another SBIVC delay.

But they said "soon" and there's a PDF...:spinlol::dash1:

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Posted (edited)

There obviously could be delays in our future but there also appears to be greater clarity today in Japan as what needs to be worked first.  I see the Japanese slogging away in a seemingly pro-business approach.  My point is I interpret their actions as striving to find a way to make this all work vs striving to find a way to say no.  I view them as searching out root causes that are hindering progress and development of this initiative and developing countermeasures to those root causes to move forward.

The excerpt below is from the site Sankei Biz (and the translation is believed to be accurate)

Per Sankei Biz, https://www.sankeibiz.jp/macro/news/190422/mca1904220500003-n1.htm

'International rules are being developed to prevent money laundering and terrorism funding, with virtual currency restrictions in place. On the other hand, there are no rules in terms of the protection of customer assets and the soundness of the market, and it is the first time that certain ideas are shared internationally.

In the manual, (1) Necessary measures to protect customer assets (2) Measures against cyber attacks (3) Ways of providing information to customers, etc. and it will illustrate the way of regulation, etc.

With regard to the regulation of virtual currency, some countries prohibit trading, while other countries favor over-regulation to avoid picking up future innovations. Since it is difficult to establish common rules, we decided to take the form of a guidebook, to have the know-how taken in a form that suits each country, and to raise the level of regulation.

In Japan, a large virtual currency outflow occurred in January and September last year. At that time, it became clear that the company's asset management method and cybersecurity measures were inadequate. The FSA is now aiming to amend the Financial Instruments and Exchange Law and the Fund Settlement Act in parliament in order to make trading companies thoroughly protect their client assets.'

*Side note and adding no credence to the article but,  interestingly enough, the phrase 'sankei' translates to 'homage' or 'homage to business'.  I just found it interesting as it seems to clearly convey the Japanese mindset to me.

Edited by Roaring_Twenties
Grammar

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Posted (edited)

So... instead of investing in the Ripple ecosystem, Kitao-san now wants Ripple's money, and to please him Ripple welcomes him to the board of directors?! :cray:

 

Edited by panmores

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Posted (edited)
On 4/28/2019 at 10:38 AM, Spartaksus said:

I guess the appointment of Kitao was from the category ,,forced marriage,,. He is not satisfied with some Ripple´s decisions and as one of the biggest stakeholders and XRP holders he wants to have better position to influence where the company is heading. e.g. R3

The fact of the matter is that we don't know what's going on behind the scenes or the motivations for change in hierarchy. I view this as a positive gesture as Yoshitaka Kitao knows the ebb and flow of the Asian financial markets extremely well. His presence on Ripple's BoD will most likely be seen as an emphatic overture of confidence he has in Ripple to the rest of Asia, particularly China!! The way in which he extols Ripple/XRP and R3 as the "Global Standard," I believe, his BoD status is the culmination and validation of his words. Ripple is undergoing a transition away from its "Startup Geist" into a full-fledged global/international company. Changes to its BoD is inevitable as they begin to grow. It wouldn't surprise me if there are a few more changes in the BoD membership in the near future. Again, who knows, but at first glance, I don't see this as a negative. 

Edited by King34Maine

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23 hours ago, panmores said:

So... instead of investing in the Ripple ecosystem, Kitao-san now wants Ripple's money, and to please him Ripple welcomes him to the board of directors?! :cray:

 

haha, such a bleakish view

As one of theR's and xrps biggest protagonists and per K34M, Im going for the breakish view (in a good breakish way... records in ath's, utility, end of btc maxis naying - now prayin' ) things like that :)

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