Strovu Posted June 20, 2017 Share Posted June 20, 2017 (edited) The SEC is waiting to jump in the party.... https://www.reuters.com/article/bc-finreg-bitcoin-ico-idUSKBN1942HF What will it mean for XRP? Edited June 20, 2017 by Strovu Link to comment Share on other sites More sharing options...
vickyhunter Posted June 20, 2017 Share Posted June 20, 2017 Moon ! TiffanyHayden 1 Link to comment Share on other sites More sharing options...
Live4xrp Posted June 20, 2017 Share Posted June 20, 2017 We're ready!!...https://ripple.com/insights/ripple-supports-efforts-drive-thoughtful-regulation/ BBS and TiffanyHayden 2 Link to comment Share on other sites More sharing options...
KarmaCoverage Posted June 20, 2017 Share Posted June 20, 2017 Quote "It's like painting a target on yourself. Because, what does an organization like the SEC regulate? They regulate IPOs,” Van Valkenburgh told a panel on the legality of ICOs. “That's what they regulate. So, let's just change one letter and make it a 'C' and then it's OK, right? No. Why would you adopt the terminology of the regulator when you’re building a thing you hope they don't regulate?" he asked. The SEC’s view on the issuance of such tokens is less than clear given the lack of public comment to date. But industry experts say they are aware that the issue is being actively explored. “I know that this is something that’s high on their radar,” said a U.S. regulator who requested anonymity. Exactly why I didn't do anything when ETH launched. I think there is more clarity on how SEC will handle the issuer of these "ICO"s... but my real quandary is... How will the SEC/IRS handle the ICO Buyer's capital gains/losses on these illicit 'securities'? TiffanyHayden and PRX 2 Link to comment Share on other sites More sharing options...
TB73 Posted June 20, 2017 Share Posted June 20, 2017 If you want really big money, if you want people to start asking hedge funds to add, if you want people to invest parts of their 401k's , if you want to be taken seriously on mainstreet and if you really want to see major adoption for crypto...well you better hope regulations are coming. Im sorry and I know many don't share my view, but to me, but the time came for crypto to move from the dark ages into the wild wild west..and as fun and crazy the wild wild west can be, its not the end of the process and to be evolve to the next phase, is regulation. Bring it on and I will gladly enjoy being in the one crypto that doesn't shy away from it but actively endorses it and sits on some of the boards that are gonna bring it. Sorry folks, but the big boys are gonna want to play some time soon..they aren't accumulating right now, for no reason. PRX 1 Link to comment Share on other sites More sharing options...
Coinseeker Posted June 20, 2017 Share Posted June 20, 2017 (edited) Seems like good news for ICO's. Worst case maybe these companies are looking at a fine which will be minor in the grand scheme of things and certainly better than prison time. Being in line with regulation is good...but when you have mechanisms that the SEC simply can't keep up with, don't wait for gov....go big and make them adjust, not the other way around. Exciting time in humanity. Edited June 20, 2017 by Coinseeker Link to comment Share on other sites More sharing options...
posetranos Posted June 20, 2017 Share Posted June 20, 2017 2 hours ago, KarmaCoverage said: Exactly why I didn't do anything when ETH launched. I think there is more clarity on how SEC will handle the issuer of these "ICO"s... but my real quandary is... How will the SEC/IRS handle the ICO Buyer's capital gains/losses on these illicit 'securities'? Good point....while they pretend to marvel in regulation, it's more to find another way of creating taxes. I agree some reg intervention is needed to protect the investor, but not steal half their capital gains when it wasn't the IRS that never took the risk, never researched the crypto-investment on the investor's time, on money which the investor probably already paid a large amount of income tax on, and who knows what else. I get a sense the difference between the irs's definition of "illicit" vs. 'Legitimate" securities will be only that they can track and tax on gains. While I may be talking the usual IRS status quo it is a reason I like anonymous crypto as well. Link to comment Share on other sites More sharing options...
Elitefoo Posted June 20, 2017 Share Posted June 20, 2017 ICO Tax avoidance. ........ ........... 501C "Welcome to my Charity, that pays me too". Btw, the NFL used to be a 501C Link to comment Share on other sites More sharing options...
KarmaCoverage Posted June 20, 2017 Share Posted June 20, 2017 1 minute ago, posetranos said: I agree some reg intervention is needed to protect the investor, There is definitely need to protect "investors" as most of these ICOs have no legitimate business model, and will not spend their funding wisely as Ripple Inc did. Investing in regulation, compliance, building an actual clients list. I dont look at these things because most are just hope and crypto dreams. As for the IRS, the tax code is an economic based system. So if you make any kind of economic gain... wages, capital gain, barter, etc.. the IRS wants their cut. Only question is which bucket of taxable income does it fall through? I think cap gains is the correct answer here. PRX 1 Link to comment Share on other sites More sharing options...
Guest Posted June 20, 2017 Share Posted June 20, 2017 3 hours ago, KarmaCoverage said: I think there is more clarity on how SEC will handle the issuer of these "ICO"s... but my real quandary is... How will the SEC/IRS handle the ICO Buyer's capital gains/losses on these illicit 'securities'? Ethereum is not only acting as a quasi security itself (with Ether "gas" sold on the promise of returns), but as a securities exchange platform to boot! Ai ai ai! :/ Link to comment Share on other sites More sharing options...
KarmaCoverage Posted June 20, 2017 Share Posted June 20, 2017 1 hour ago, zerpdigger said: Ethereum is not only acting as a quasi security itself, with Ether "gas"... As I understand it, ETH serves much the same purpose on Etherum as XRP does on RCL. Transaction fee with Utility value? I could be totally wrong? Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now