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New York Regulator Greenlists 10 Cryptocurrencies, XRP approved for Custody


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https://www.xrparcade.com/news/new-york-regulator-greenlists-10-cryptocurrencies-xrp-approved-for-custody/

Regularity clarity seems to be gathering pace.

Revolving doors are a thing and I wouldn't be surprised if BB & Co. needed one last pump to offload their remaining ETC stash or make some persons whole. The more "coincidental" things I see in ma

I'm all for federalism, but in certain situations this causes too much regulatory uncertainty. Instead of dealing with the federal government for approval, a company has to make sure they are compliant with all the states, which may all have different requirements or no requirements or pending bills. Can we just be honest with ourselves that federalism works for certain cases but not others? I'm scratching my head why NYC believes they need to get involved in the cryptosphere. 

Edited by Panzer_Kitteh
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  • 4 weeks later...
On 8/12/2020 at 7:18 PM, Panzer_Kitteh said:

 I'm scratching my head why NYC believes they need to get involved in the cryptosphere. 

So they can wear a suit and tie. Use the big words they learned in school. Show off their snazzy socks. Smile for the cameras. Then after much delay they can say: ok you guys can go ahead with your high speed marathon now.

Reminds me of a parent saying "hold up,  hold up. Did you ask if you can do xyz"

Child: "can I do xyz"

Parent: "hmm let me think about it"

... long dramatic pause

Parent: "ok go ahead"

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On 8/10/2020 at 5:39 PM, Zerponaut said:

Ethereum Classic? What could go wrong with that?

I wonder if the powers-that-be really know what's going on or they're just reacting to the pathfinders like Brian Brooks and the like pushing for laws. Like are they already pre-planning now to delist ETC (because of all the 51% attacks already) as soon as institutions are ready to go all-in on other, actually good projects or will those situations blindside them after dumb money gets in on things like ETC?

The former is almost insider trading and the later is just incompetence. "Well, sorry guys, we said you could, we didn't say it was a good idea."

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4 hours ago, jetbrzzz said:

I wonder if the powers-that-be really know what's going on or they're just reacting to the pathfinders like Brian Brooks and the like pushing for laws. Like are they already pre-planning now to delist ETC (because of all the 51% attacks already) as soon as institutions are ready to go all-in on other, actually good projects or will those situations blindside them after dumb money gets in on things like ETC?

The former is almost insider trading and the later is just incompetence. "Well, sorry guys, we said you could, we didn't say it was a good idea."

It's proof of what a mess regulation in crypto is. The NYC financial regulator gives validity to a crypto that has the integrity of a house of cards. Even if ETC's only approved for custody, someone willl get burnt and all cryptos will pay the price for years to come because the regulators don't know what they're doing, or worse. Maybe Brooks just has a bag of ETC from his Coinbase days or some favours to repay.

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6 hours ago, Zerponaut said:

It's proof of what a mess regulation in crypto is. The NYC financial regulator gives validity to a crypto that has the integrity of a house of cards. Even if ETC's only approved for custody, someone willl get burnt and all cryptos will pay the price for years to come because the regulators don't know what they're doing, or worse. Maybe Brooks just has a bag of ETC from his Coinbase days or some favours to repay.

Revolving doors are a thing and I wouldn't be surprised if BB & Co. needed one last pump to offload their remaining ETC stash or make some persons whole. The more "coincidental" things I see in markets, the more I'm convinced insider trading IS the game; occasionally the SEC has to pinch someone to justify their existence.  Literally it's the movies Wall Street and Wall Street: Money Never Sleeps; "Wake up, will ya pal? If you're not inside, you are outside, OK? ...a player or nothing."

2020 Tim Cook isn't dumping $130mill. of Apple stock at Apple's all-time high cause he needs a new Porsche.  Buffett isn't dumping all his bank positions except for picking up $2bill. of BoA, oh, because they have an actual patent on real-time settlement with Ripple/XRP in the mix. Buffett's also trying to learn Japanese in his old age, so he picked up $6bill. in Japanese bank stocks in the last 12 months, some of which are heavily invested in SBI Holdings, who's president happens to sit on the board of Ripple. Oh and Barrick Gold, don't get me started.

The recent tech stock dump this past week or so is likely a move by tech execs to liquidate to cash so they have plenty to pump into the soon-to-be regulated crypto market, better than leaving in an overpriced stock market which is likely to crash in the next 24 months. Across the board, Google, Apple, these execs are ALL selling like it's out of style, hmmm, I wonder why.

They already know what's coming.

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