RobertHarpool Posted October 18, 2021 Share Posted October 18, 2021 Ominous clouds on the horizon. You can find the article here. I am no longer a NY resident (TG)...still have friends who are ... but like many here, I certainly have holdings at Nexo and Celsius. StellaBlueZerps, Julian_Williams and aavkk 1 2 Link to comment Share on other sites More sharing options...
wojake Posted October 18, 2021 Share Posted October 18, 2021 Don't be surprised if Gemini launches a crypto lending service soon, they run the game in New York. Link to comment Share on other sites More sharing options...
Chocobo Posted October 18, 2021 Share Posted October 18, 2021 The US is such a shit show on crypto. xrp_is_love_xrp_is_life and DannyRipple 2 Link to comment Share on other sites More sharing options...
Guest Posted October 18, 2021 Share Posted October 18, 2021 I see two logical next steps here, in lieu of favorable regulation - Products from centralized platforms will be limited to Accredited Investors (see Circle's offering) Products from DeFi platforms through a Wyoming registered LAO (Thanks to Winston Smith on the Trustline Telegram Channel) I get what they are trying to say - these products should effectively come under Banking or Securities laws, per the current legal framework in the U.S. There is no debate there. Here's the problem that the government has, but likely hasn't recognized yet, though. If they don't pass reasonable regulation soon, they will move to DeFi and once that flywheel starts, there is no stopping it. It's in their best interest to support this on centralized platforms. Software evolves much much faster than Government regulation. Link to comment Share on other sites More sharing options...
HAL1000 Posted October 19, 2021 Share Posted October 19, 2021 4 hours ago, Ripley said: Here's the problem that the government has, but likely hasn't recognized yet, though. If they don't pass reasonable regulation soon, they will move to DeFi and once that flywheel starts, there is no stopping it. It's in their best interest to support this on centralized platforms. Software evolves much much faster than Government regulation. DEFI is US, "THEY" are the ones who have been parasitically living off all of us, by inserting themselves into the middle of everything and in many ways. DEFI, can be seen as join US or WE will leave you, meaning "THEM", behind. WE can digitally shut "THEM" out, which means less control and power over US. This is the real economic war, WE are bringing to THEIR doorstep and THEY ain't going down without a fight, which is what this is all about. Link to comment Share on other sites More sharing options...
jMusic Posted November 5, 2021 Share Posted November 5, 2021 Very disappointed with Nexo as despite proving my residence location to them and them acknowledging it is acceptable, they have blocked me from earning interest. My latest exchange with their customer service included this little gem... Quote Kindly be advised that upon review, we can confirm the case is still under review They don't appear to know their arse from their elbow, I would recommend caution with them and perhaps exploring alternative options. Link to comment Share on other sites More sharing options...
brianwalden Posted November 5, 2021 Share Posted November 5, 2021 34 minutes ago, jMusic said: Very disappointed with Nexo as despite proving my residence location to them and them acknowledging it is acceptable, they have blocked me from earning interest. My latest exchange with their customer service included this little gem... They don't appear to know their arse from their elbow, I would recommend caution with them and perhaps exploring alternative options. That sounds like typical crypto customer service. Not anything to be alarmed about in and of itself. But you should use caution everywhere in crypto. jag216 1 Link to comment Share on other sites More sharing options...
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