Cryptocurrency regulation

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Cryptocurrency regulation

Ripple, the San Francisco-based cryptocurrency giant, is threatening to leave the U.S. due to its regulatory climate. Ripple is engaged in a long-running argument with the SEC and investors over the nature of its XRP digital currency—it claims XRP is decentralized and therefore should be exempt from securities laws. Likely destinations if Ripple does flee the States? The U.K. or Singapore. Fortune
 
Lol they are still trying to convince the SEC that's it's not a security, and this has been going on for years. The founders have to regulate the price because if it goes up then it will be classified as a security. The SEC is not stupid, that's the price you will pay when you want to abide by government laws and be the owner of a token. And I feel bad for the xrp holders, (who are 100x worse than the Bitcoin moonboys) who think xrp will be the global digital currency of the future. Yeah, very sad...
 
If it is not a security then what? to start with any such crypto you DO pay somebody real money correct ? (Most of the time) and then when you sell you get real money ! so it is a financial product. and should and must be regulated
 
traderjo said:
If it is not a security then what? to start with any such crypto you DO pay somebody real money correct ? (Most of the time) and then when you sell you get real money ! so it is a financial product. and should and must be regulated
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Yes a centralized token should always be regulated. A decentralized, not so much...
 
ok please educate me... first step for most ( as investor or trader) is to convert their real currency in to these digital assets! correct ? if so then that is still financial product is it not?
and if the "So called crypto exchange " and the crypto currency as an asset class has no regulations whatsoever then it is open for all sort of illegal things...
What still eludes me is any company person can start an ICO with no scrutiny at al like an IPO is , digital or not money is money and efficient and regulated market for any asset class is better than NOTHING
 
traderjo said:
ok please educate me... first step for most ( as investor or trader) is to convert their real currency in to these digital assets! correct ? if so then that is still financial product is it not?
and if the "So called crypto exchange " and the crypto currency as an asset class has no regulations whatsoever then it is open for all sort of illegal things...
What still eludes me is any company person can start an ICO with no scrutiny at al like an IPO is , digital or not money is money and efficient and regulated market for any asset class is better than NOTHING
More...

Crypto exchanges that accept fiat are regulated where they operate from, i.e. Binance.com does not accept US customers, and redirects them to Binance.US Coinbase is your best bet if you want to buy cryptos with USD from and you are a US citizen or resident.

I have not heard of any ICO's for a while, or perhaps if there are any, they specifically prohibit US citizens/residents from participating.

There's decentralized tokens that are issued on the Ethereum network through decentralized projects but that's a whole can of worms outside of this thread.

The OP was about Ripple a company that controls the supply (and demand through market manipulation) of the XRP tokens and is a centralized project. Bitcoin is decentralized. There's no company to go after and has been ruled by the SEC or some other USG agency as not a security.
 
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