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US House hearing with SEC on Sept 24

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Guys and Gals and other(?), look back to Nov 18 2013, the Senate meeting on Bitcoin...Ripple Labs did show up...Was there a Senate XRP airdrop wayy back then to illustrate use??? Maybe Congress wants their piece of the pie. Just a thought...

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11 hours ago, itcdominic said:

Anyone get the scoop on the SEC hearing today?

I literally heard one said in the hearing: crypto is for money laundering, drugs, human trafficking and tax fraud. These 4 categories is where it's good for.

I had a giggle. I only heard it partly but don't think there was anything relevant said here. Maybe some "media outlets" will try to hype or fud the market with some quotes. Don't expect too much of it. Maybe "Come on in"-guy can make another 100 videos talking how XRP is going straight up to 10000$ and saying that tomorrow there will be regulatory clarity or some **** !?!!!???!?! (the punctuation is to close off in "Come on in"-guy style).

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6 hours ago, SquaryBone said:

I literally heard one said in the hearing: crypto is for money laundering, drugs, human trafficking and tax fraud. These 4 categories is where it's good for.

I had a giggle. I only heard it partly but don't think there was anything relevant said here. Maybe some "media outlets" will try to hype or fud the market with some quotes. Don't expect too much of it. Maybe "Come on in"-guy can make another 100 videos talking how XRP is going straight up to 10000$ and saying that tomorrow there will be regulatory clarity or some **** !?!!!???!?! (the punctuation is to close off in "Come on in"-guy style).

Sad.....we have a long way to go.

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The US is really determined to stay behind the curve on this one.  Its either ignorance, or lobby money at work, or both.
Lobby money. Banks want to buy time to reposition them: be it through adopting crypto, trying to beat it down or by other means.

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21 hours ago, itcdominic said:

Anyone get the scoop on the SEC hearing today?

I've only made it through the first hour but this stood out to me:

Patrick McHenry focuses on digital currencies around 46:38 and asks Commissioner Peirce "do we have a solid ecosystem for crypto to exist in US and raise capital in a regulated environment?"  She says, "we have more work to do and would like to be more forward thinking when it comes to digital assets. For example, digital assets that are utility tokens, I don’t know that the securities law framework that we have right now is the appropriate frame work for them. So I’d like to see us think about creating some kind of a safe harbor." Chairman Clayton agrees with Peirce.

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