HAPPENING - CHAIRMAN OF SEC SAYS CRYPTO IS THE FUTURE

Dude... he's saying that it's time to regulate ctypto.

Now, if you think that all of the various shitcoins will go up when people figure out that it's regulated, taxable, and on the record, that's up to you.

first for anime

Adding to this how the fuck do these boomers still not fucking get it? Crypto is more than just scam shit icos.

There is no mention of regulation

"well founded and proven approach to protecting investors and markets"

Can you not read?

no it destroys what you think the point of crypto should be. we need regulation for institutional investment

"The recent proliferation and subsequent popularity of cryptocurrency markets creates a question for market regulators as to whether our historic approach to the regulation of sovereign currency transactions is appropriate for these new markets."

THANKS JUST BOUGHT 100K!

and this is bad how? LUL.

JOOST-scams are banned and punished. pyramid schemes are banned and punished.
good tech platforms will be blessed with freedom eagles and burgers and the right to bear arms.

>"well founded and proven approach to protecting investors and markets"
Still vague. The sentiment is positive and doesn't directly state crippling regulation.
this. it seems very rational.

by the time i was reading this BTC dropped from 7300+ to 7100+
BULLISH AS FAUCK

Reminds me about that scene from Big Short actually, where Bear Stern stock went to shit during the conference.

learn to read between the lines
expect "accredited investor" requirements for cryptos soon to protect Tyrone and Jamal from Bitconnect

That has a pretty wide interpretation.

Sure he did, you just have to know how to read fed-speak.

This statement is FAR more clear than most fed statements.

He's saying that crypto offers great opportunities for alternative finance and payment, but they MUST be conformed to securities laws and consumer protection laws.

The only real regulation crypto needs is proper reporting. That is if you want to start an ICO you need to verify your identity and team to the SEC.

Extremely bullish sentiment. Once more people understand this we should start to recover back to our previous highs.

>Finally, financial products that are linked to underlying digital assets, including cryptocurrencies, may be structured as securities products subject to the federal securities laws even if the underlying cryptocurrencies are not themselves securities.

They need a lot more regulations than that. Crypto has only been on my radar for a little while, but already I see problems in need of regulation....

1. The price of BTC and other cryptos is not the same on different exchanges. This is unacceptable in modern markets. The price should be the same on all markets at any given time.

2. Exchange fees are out of control. The idea that someone has to pay 4% or 5% to move money in or out or to do transactions is insane, and is only happening because it is unregulated. In a regulated world, your transaction fees would be roughly the same at all exchanges, and not at shylock rates.

3. There needs to be market makes in the crypto market.

4. Etc

Sure. Enjoy your tulips.

see
Also:
"we are open to exploring with Congress, as well as with our federal and
state colleagues, whether increased federal regulation of cryptocurrency trading platforms is
necessary or appropriate. "

They will likely regulate to some degree but aren't sure how to do so vs traditional securities. Regardless...bullish

>1. The price of BTC and other cryptos is not the same on different exchanges. This is unacceptable in modern markets. The price should be the same on all markets at any given time.

BASED GOVERNMENT!!!!

if you keep any of your coins in exchanges right now get them the fuck out

>4. Etc

Ethereum Classic

>The price of BTC and other cryptos is not the same on different exchanges. This is unacceptable in modern markets. The price should be the same on all markets at any given time.

my god you are retarded

Also ban all mixing services and privacy focused coins. All blockchain addresses need to be registered with IRS for tax purposes.

Good answer. Lots of thought

This is the most critical step for mass adoption by the general population.

>my only frame of reference for financial issues is a hollywood movie starring selena gomez

Yeah man sounds bullish

News sounds sexy as hell. Government is optimistic with crypto.

Since the US is the centre of the world, expect other countries to follow suit.

>tfw the US government buys out crypto

>regulations

Seriously, you're just stupid.

Markets are starting to recover.

Based SEC.

Fucking amerimutts are actually saving us under the pressure of Chinacucks. Tfw can't influence the market because europoor.

exchanges will still be outlawed, there will be no exits

twitter.com/iamjosephyoung/status/960622342333329408

>mfw the government buys my FUN bags

Where does it say that salty nocoiner? Please highlight the relevant line in the PDF where it says exchanges will be outlawed.

None of what's been brought forward here is bullish whatsoever. Best case scenario is crypto gets labeled as it's own new form of security.

~Litecoin

>the US can outlaw exchanges based in other countries

Nov 5 2017, BTC $7430 ZRX .18 cents XLM .02 cents.
Feb 5 2018, BTC $7261 ZRX .84 cents XLM .34 cents.
Crash is the market reconfiguring to reflect the fall of bitcoin and the rise of blockchain. That is all.

>dispels uncertainty about US regulations
>not bullish

get your butthole checked dude

>Where does it say that
common sense says that, exchanges are crooked as fuck, have fun looking at fake order books much?

I hope the SEC bans trading bots. Trade yourself or fuck off. Wall Street doesn't allow bots.

other "countries" literally do not matter, at all

>I hope the SEC bans trading bots. Trade yourself or fuck off. Wall Street doesn't allow bots.
agreed on that

>labels crypto as a security instead of a currency
>forever used as a payment vehicle for icos
Bullish for eth maybe.

>order books are currently manipulated in some markets therefore it follows that all exchanges will be outlawed.
Can you highlight the passage where it says exchanges will be outlawed? "Common sense" is not a citation btw.

US SEC Chairman Jay Clayton:

"As I have stated previously, these market participants should treat payments and other transactions made in cryptocurrency as if cash were being handed from one party to the other."

Yeah I'm sure Hong Kong will listen to the US government. China doesn't even control HK

lmfao why do retards think this is a positive spin. he's saying that because crypto isn't regulated you shouldn't treat it like a real security, you're literally just giving someone cash and hoping it doesn't suddenly disappear and that you get more back.

oh my fucking buddha how the fuck you can be so fucking retarded what the fuck is wrong with you

the ease at which you cryptofags are triggered speaks volumes...

you're so retarded it hurts

Thanks just bought 100k trump coin

That's great but...

wtf is the SEC ?

Yeah you posted this already but then why is it getting regulated as a security? This news is extremely bearish for any currency related crypto.

without the US crypto is dead, deal with it

>“Do no harm” was unquestionably the right approach to development of the Internet. Similarly, I believe that “do no harm” is the right overarching approach for distributed ledger technology.
Anyone who says this isn't incredibly bullish is a lying butthurt nocoiner.

Securities and exchange commission

>Without US

what are you even saying? without US what?

Sec has no say in what these exchanges do

Funny how when you got called out, you can't provide a citation.

Pretty obvious who the boomer nocoiners are from their use of the word "outlaw" lol what do you think this is, the 1800s.

the price is literally falling again as people finish reading the document and actually realize what it means
hahahaha idiots who impulse bought because of this are going to get cucked so badly

You'd be amazed how much they will

probably taking a picture of his wrecked asshole now.

>twitter.com/iamjosephyoung/status/960622342333329408
this is a positive spin. Means I may not have to pay capital gains on every trade.
not really
no. Just no man.

Yep openly spitting on the long term vision of bitcoin is good for bitcoin

Skimmed it briefly

States: Crypto can bring good but it needs regulation, advertised largely as preventing normies from getting fucked.

Overall good. Should influence other nations to follow suit. You dont want America to monopolize this too.

Plus, regulation should bring (((institutional))) money in

>WE NEED TO REGULATE IT
I'm bullish as fuck on XMR right on now.

>1. The price of BTC and other cryptos is not the same on different exchanges. This is unacceptable in modern markets. The price should be the same on all markets at any given time.

am i being baited right now ?

yes basically.What we can gather from this is: SEC respects crypto and sees it as good. They don't really know how to regulate it as they don't want to kill it.

RIP arbitrage lmao

he is just a retard. he thinks you can buy IBM on Hong Kong or Nikkei, when in fact, you can only buy it on NYSE

He's talking about blockchain technology not your shitcoin forks that all do the same thing.

OK, I admit it was poorly worded.

What I meant was.... "the reported price".

At any given moment, if you look at the prices as listed by various sites they're never consistent.

Example, compare these:

coins.live/

gdax.com/trade/BTC-USD

At any given moment, there should be only one price... the right price.

Now, I'm sure some of this could be how often the site updates their quote, but some of it isn't.

...

...

10/10 bait I'm genuinely impressed

the praise was for blockchain technology, which has useful applications in the real world beyond simply maintaining a currency. the main point that you're blindly ignoring is that they want to regulate it. it's only a matter of time before they figure out how. this is the U.S. government we're talking about, they will find a way to fuck things up

you really need to read the whole paper rather than just tweets taken out of context, it's for your own good. he's saying crypto are securities and not currency, however since there is no way to protect investors, he is advising that you TREAT IT LIKE CASH

Bitcoins long term future is as a scaling payment platform. Whichever side of the fork your on this is the goal. This type of regulation isn't conducive to that goal whatsoever.

Better sell along with them while this good news is still under the radar. No way it's ever going to go back up. :^)

So bitcoin is useless as fuck

No it's just getting regulated and treated like something it isn't whatsoever.

BULLISH
>BULLISH
BULLISH
>BULLISH

WHAT COINS IS GOING TO BE THE BLOCKCHAIN OF USA I NEED TO BUY ASAP AAAAHHHHHHHHHHHHHHHHHHH