BREAKING : XRP wins case against the SEC as it is ruled 'Not a security'

[traderjo]

You're not in the US??? Then why the fuck are you whining and bitching about US regulations, blah blah blah,

READ THIS SLOWLY... the problem is the SEC, not the exchanges. Goldman Gary was asked by Congress several times if the 2nd biggest crypto is a security or not and he could not answer it

WHAT THE FUCK goes in your shitty mind that you cannot see the US regulatory environment is unfair towards crypto assets???

Anyway, you want to keep bitching about the US regulations, move to the US first, bitch

Australia and Canada and UK and some countries in Europe are US financial bitches, they follow the US master nation

Great language keep it up..Australia and Canada and UK and some countries in Europe are US financial bitches, there you go crypto cult member, by the way I am not moaning about US regulators' infact I am supporting the actions read it slowly buddy pal mate

 

[johnarb]

Great language keep it up..Australia and Canada and UK and some countries in Europe are US financial bitches, there you go crypto cult member, by the way I am not moaning about US regulators' infact I am supporting the actions read it slowly buddy pal mate

Ahh, I misunderstood you. I thought you wanted the exchanges regulated because you wanted to actually trade, but it sounds like you don't really plan to trade crypto assets, my bad

The issue is that the exchanges want to be regulated with clear regulations and spend millions of $, but the SEC don't want them to be regulated

You may be surprised, but I also support what's going on in the US crypto regulations but that's because I'm no longer there

What's going to happen, imo, is that the US people will be able to buy bitcoins and other crypto assets from a fully regulated AML-KYC close system from Blackrock etf, Fidelity, etc

They will think they own bitcoins and other crypto assets but they really do not as they cannot withdraw to local wallets

They will be happy... as long as they don't go against LGBTQ++LMNOPQRST or wear a MAGA hat, or don't allow their kids to have surgery for TRANS or don't support BLM or don't support the climate change initative

The minute they do any of the above, their bitcoins and crypto assets will be frozen or confiscated

I see you're a big supporter of that system, Pal, buddy, my friend. Good luck and hope you will be happy

 

[vanzandt]

Believe it or not, Bitcoin isn't considered a currency either. All the major governments treat it like "digital property", meaning that it is taxed like real estate and other forms of property, meaning that you are taxed on the gain in value when you sell it.

.

There's no 1031 exchange available for BTC though. When you sell BTC at a profit>>> you pay taxes. Right? Not really an apples to apples comparison in a way. As far as I know.

 

[Cryptjitsu]

(US) government realized the most beneficial for them is to treat bitcoin as commodity or digital property

This is primarily due to early lobbying efforts from key BTC holders such as DCG, Winklevoss twins, and other insiders.
Surprise, Jeff Epstein is on that list as well.

There is also ongoing lobbying efforts by BTC Maxis to cement that status while label every other crypto as a security.

 

[Cryptjitsu]

In terms of the conversion to real money, that's been in the crosshairs of the government for a while, and that's one of the main reasons they made all the major exchanges implement KYC (Know Your Customer) procedures such as requiring multiple forms of ID as well as bank account information in order to open an account. They know that most people need the on and off ramps from crypto to traditional banks, and vice versa, to make the whole crypto coin game work in the first place.

KYC & AML efforts stem back to the 1990s, they were easily implemented en masse with the Patriot Act (hmmm)
The governments did not make the CEXs do anything in regards of KYC & AML. There is no way to interact with the trad fi banking system electronically without KYC & AML, even if you are selling a used toilet seat on craigslist.
The irony is that BTC was created to escape that system. Instead, it's only further progressing it to the levels of a Black Mirror episode.

 

[Cryptjitsu]

Anyway, the US is a dead market for crypto adoption, you'll be able to buy crypto in the AML-KYC walled garden and you will be happy

There is nothing stopping from anyone in USA from getting into crypto without relying on the KYC walled garden. Isn't that why this tech was created in the first place?

Of course, few will care to do the steps to do it, cause they don't care about that. They just want gains, and that narrative will be easily sold to them by Wall Street when the time is right.