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The SEC and its foray into cryptocurrencies

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Here is a short definition of what the SEC (Securities and Exchange Commission) is: It is an institution of North American origin that has the responsibility of regulating and enforcing the laws of securities.

 

 Lately this commission has moved tab with the markets that move cryptographic values.

 

 I suppose you all know that this institution has currently filed a lawsuit against Ripple labs, the developer of XRP, due to an alleged sale of securities equivalent to 1.3 billion dollars, whose process apparently was not very legal.

 

 This situation has created uncertainty in the market, a plunge of 21% shows the distrust and fear of investors, XRP for years has been characterized as a currency with little support from the community due to its centralized system, so This event has strongly affected Ripple's reputation.

 

 Another case in which the SEC has been involved in recent days was the cancellation of the ShipChain ICO valued at 27 million, in addition the company was fined a value of 2 million dollars.

 

 In addition to this, during 2021 the United States Congress plans to give more powers to the SEC so that its investigations include even those who custody tokens of relative value.

 

 What do you think about this? Do you think it will be the end of the history of ripple on North American soil? What do you think about the SEC?

 

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 If we look at the token allocation of Xrp its fully designed to be central entity holding huge number of tokens. And as we listen XRP founders dumping their tokens several times  at some extent it's not right in my view. And also the Network isn't centralised as other Blockchains are.s

The Sec has taken action and Currently I think its best to look and see what happens. Taking any position is too risky considering the un list of Xrp from some exchanges, such big dump which isn't good sign for Xrp founders and holders. 

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NOTHING I SAY IS FINANCIAL ADVICE. YOU SHOULD USE YOUR MIND ,FOR YOUR MONEY,

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Thank you for this information-rich article. The xrp currency did not appear out of nowhere in relation mainly to the stock market and the global stock exchange, but I feel these are more stable than others, as it is a very supported currency. Thank you.

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9 hours ago, Amiami said:

Here is a short definition of what the SEC (Securities and Exchange Commission) is: It is an institution of North American origin that has the responsibility of regulating and enforcing the laws of securities.

 

 Lately this commission has moved tab with the markets that move cryptographic values.

 

 I suppose you all know that this institution has currently filed a lawsuit against Ripple labs, the developer of XRP, due to an alleged sale of securities equivalent to 1.3 billion dollars, whose process apparently was not very legal.

 

 This situation has created uncertainty in the market, a plunge of 21% shows the distrust and fear of investors, XRP for years has been characterized as a currency with little support from the community due to its centralized system, so This event has strongly affected Ripple's reputation.

 

 Another case in which the SEC has been involved in recent days was the cancellation of the ShipChain ICO valued at 27 million, in addition the company was fined a value of 2 million dollars.

 

 In addition to this, during 2021 the United States Congress plans to give more powers to the SEC so that its investigations include even those who custody tokens of relative value.

 

 What do you think about this? Do you think it will be the end of the history of ripple on North American soil? What do you think about the SEC?

 

Ripple has managed, during the last period, to increase and control a large part of the markets, but due to recent media reports, it has significantly decreased.

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12 hours ago, Amiami said:

 What do you think about this? Do you think it will be the end of the history of ripple on North American soil? What do you think about the SEC?

@Amiami The SEC is a centralized body of the US, a country that wants to control the planet, it is not strange that it comes for cryptocurrencies in order to prevent it from displacing the dollar in the world, I think XRP will leave that country, if not will run the risk of creating more mistrust than it does by being centralized and tied to large corporations of American finance, there is a lot of dark about this.
Difficult times are expected for ripple, we hope it can solve its problem and continue to be an alternative for those who believe in it as a currency of value against the dollar.

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It must be understood that crypto-currencies do not have many regulations and for that same reason are lately being subject to increased demand, in the case of XRP it is critical that the company is gradually selling its currencies in order to survive and that worries its holders and investors because of that uncertainty its price drops considerably.
On the road to adoption we are going to be subject to regulations and the SEC is simply exercising its function, I do not think we should worry excessively.


 

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On 12/26/2020 at 1:33 AM, Amiami said:

 

 This situation has created uncertainty in the market, a plunge of 21% shows the distrust and fear of investors, XRP for years has been characterized as a currency with little support from the community due to its centralized system, so This event has strongly affected Ripple's reputation.

 

This seems to only affect coins/tokens that might end up being securities. Ripple might be able to afford to pay the fines but there are lots of other projects that would be absolutely destroyed by this verdic

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I have read that the SEC chairman that sued XRP has stepped down and this was his last act. Looks he was holding some grudge against XRP but it is as you explained, the Ripple company was moving XRP and selling for years, making the price go down. 

But since this is about the SEC mostly, I also read a new chairman has been appointed and there is enthusiasm as he is deemed pro crypto. Perhaps things can be easier for some ICO and crypto projects now.

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On 12/26/2020 at 1:33 AM, Amiami said:

Here is a short definition of what the SEC (Securities and Exchange Commission) is: It is an institution of North American origin that has the responsibility of regulating and enforcing the laws of securities.

 

 Lately this commission has moved tab with the markets that move cryptographic values.

 

 I suppose you all know that this institution has currently filed a lawsuit against Ripple labs, the developer of XRP, due to an alleged sale of securities equivalent to 1.3 billion dollars, whose process apparently was not very legal.

 

 This situation has created uncertainty in the market, a plunge of 21% shows the distrust and fear of investors, XRP for years has been characterized as a currency with little support from the community due to its centralized system, so This event has strongly affected Ripple's reputation.

 

 Another case in which the SEC has been involved in recent days was the cancellation of the ShipChain ICO valued at 27 million, in addition the company was fined a value of 2 million dollars.

 

 In addition to this, during 2021 the United States Congress plans to give more powers to the SEC so that its investigations include even those who custody tokens of relative value.

 

 What do you think about this? Do you think it will be the end of the history of ripple on North American soil? What do you think about the SEC?

 

Ripple did, for some time, to conquer the markets and to rise dramatically before the current decline, but I expect it to rise again soon.

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The sec makes XRP worthless and many big exchanges like coinbase, bittrex,Binance have announced delisting of XRP coin they have set date for members to withdraw XRP from their platform which is 19January 2021.After that they will remove the deposits and withdraws of XRP. The down fall is so big of XRP and it goes to now $0.22.But from latest new XRP CEO announce that people have to listen their side of story. Waiting for this now and observing is it the end of XRP. 

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On 12/26/2020 at 12:33 AM, Amiami said:

What do you think about this? Do you think it will be the end of the history of ripple on North American soil? What do you think about the SEC?

Maybe not only in North America. Some other regions will be watching at it closely looking at where this leads to with skeleton investigation and XRP might either be in bigger trouble or this will past and disappear as it comes.

SEC is a necessary organization and to me, they are doing a great work monitoring investor rights.

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SEC is planning to take down many coins but according to the XRP owner that press and users only hear one side story and they are filing case against the SEC within weeks.


Youtube ChannelSocial media Assets, Websites and Plugins are available in a very reasonable price 😇 TALK Token is also acceptable.

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The SEC has more plans but these are to be announced next year as the chairman they had that was against ICO and blocked many projects has left the office for a new one that is crypto friendly as some say. 

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The SEC chairman started the legal procedures on Ripple and Xrp the day before he stepped down from his position. Perhaps he thought it was very important to not allow Xrp to be part of the crypto bull run. This helped Bitcoin and other altcoins as the money left Xrp and entered Bitcoin Ethereum, Litecoin and even more cryptocurrencies. It didn't do bad in my opinion but only to Xrp believers that lately knew there were going to be problems. 

We have to find out what the new chairman of the Sec is going to be, some say he has knowledge of cryptocurrencies and others say there is going to be a more strict approach on stable coins, KYC and market regulations. I hope it will be better and without privacy concerns for all of us.

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In the end I think there will be an agreement. It could take a year if Ripple wants to fight the SEC and this will damage XRP even more. Ripple shouldn't fight but compromise instead. There are many investors that were hopping a lot from XRP but they had a good picture of what they bought as for years Ripple was opening escrow accounts and had hundreds of social media paid accounts following them and justifying every sale they made.

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Something typical of North American institutions, they think they have the right to do whatever it is with whoever they want, since the lawsuit was announced, there has been no further progress, I think this was a strategic move to get XRP out of the picture, leaving a tightrope to those who bet on said currency.

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The SEC is dealing with what grows too much and when there are many irregularities, Ripple has had too many of these for years and it took a very long time for this decision, in my opinion it should have been many years earlier, but in any case we don't know all the details and we only know what was made known by the news.

There could be many stories behind this decision that we will never learn.

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The SEC has become a bad omen for crypto since years but most times, if not all, the cryptocurrencies have done many wrongs. The only time I saw a mistake in the SEC decisions was with TON and how the SEC stance was against this project from the beginning. It was the only time the fund raising and the economy of the coin wasn't important for them, it was the privacy and encryption of telegram that they feared most.

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On 12/26/2020 at 1:33 AM, Amiami said:

In addition to this, during 2021 the United States Congress plans to give more powers to the SEC so that its investigations include even those who custody tokens of relative value.

It has already ruled that BTC and Ethereum are clear and are not commodities. XRP was charged to be a commodity and the sales by Ripple to be against the law. The crypto market had many scam ICO and projects that were not what it seemed and there is need for this to stop.

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As for illicit securities, America is one of the countries that most illegally behaves in this framework, and Trump explicitly requested the Federal Reserve to print for him a large number of dollars without having a corresponding domestic product, but they retreated from the idea in order not to lose The dollar is worth, not because this is an unfair or illegal act.

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I'm afraid that the SEC will attack all others cryptocurrency in the future, I don't understand what is their goal, but I think it is very clear they are not agreed to see the people using more and more cryptocurrency than fiat money, and specially they are protecting their currency USD.


 

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I will be honest, I don't know what exactly a security is. However, it feels that this is something that should be taxed and reporting to the SEC. I have tried reading about what exactly a security is, but the terminology is very difficult, and in fact it has to be judged each time by experts if an asset is a security or not. Nobody knows what the verdict will be about XRP. And the same was earlier with other crypto projects like EOS. I think this way the SEC manages to be in some kind of review of the companies that started these assets.

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On 12/26/2020 at 5:18 AM, Amiami said:

What do you think about this? Do you think it will be the end of the history of ripple on North American soil? What do you think about the SEC?

This is the era of the decentralization. I think sooner or later, it will be the end of centralized blockchain projects to offer the cryptocurrencies for a huge crypto-community. Currently, Ripple still has the options to fight against the SEC's claim and Ripple can prove them wrong to offer the similar services once again in the markets. 


 

 

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The SEC has more plans, but they will be released next year, as their previous chairman, who was anti-ICO and blocked several ventures, has stepped down in favor of a new one, who is said to be crypto-friendly.

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This is the first case where the flagship asset's price exceeded 11 million yen. Digital gold prices also peaked in Argentina, where the leading cryptocurrency reached 63.8 million Argentine pesos, slightly above the maximum on 14 March.   In the Philippines, one bitcoin briefly rose to 4.18 million pesos, the highest since mid-March 2024. In several other countries, BTC prices also equalled or were very close to mid-March's maximum prices: in the UK, Australia, Canada, Chile, Colombia, Egypt, Israel, Norway, India, South Korea, Taiwan, and Turkey.   However, the Fed and American macro statistics, having awakened the markets, also calmed them. After strong business activity data in the US, BTC/USD returned to the support zone of $67,000. Another (and probably the main) reason why bitcoin could not update its historical high was its main competitor, ethereum, which drew investors' attention. (More on this below).   QCP Capital expects bitcoin to reach $74,000 and update its ATH (All-Time High) in the coming months. According to the company's economists, institutional acceptance of cryptocurrency is accelerating, and improving conditions in the global economy create conditions for capital inflows into risky assets. The US presidential election, scheduled for 5 November 2024, is also starting to have a strong positive impact on the cryptocurrency market.   Cryptocurrency themes continue to strengthen in the pre-election rhetoric of candidates seeking to gain the votes of the crypto community, which, according to NYDIG, numbers more than 46 million citizens in the US, or 22% of the adult population. Haseeb Qureshi, Managing Partner of Dragonfly Capital, believes that in such a situation, the administration of President Joseph Biden will soon be forced to ease its policy regarding the digital asset industry. A complete turnaround is not to be expected, but a softening of the position will still occur, Qureshi said.   CNN has recently reported on upcoming debates between Biden and his competitor, Donald Trump. The incumbent president will have to answer a number of uncomfortable questions about the harsh policy towards the crypto industry, which led to the outflow of cryptocurrency capital, the closure of large companies, and high-profile lawsuits. From Donald Trump, who turned the topic of cryptocurrency into a weapon against his opponent, in addition to attacks for the current state of affairs, loud pre-election promises can be expected, which could lead to significant volatility in the crypto market. Possible participation of Elon Musk, who expressed willingness to become a moderator, and independent candidate Robert Kennedy Jr., should enliven the debates, the first round of which is scheduled for 27 June, and the second for 10 September.   The main beneficiary of the past week was not bitcoin but ethereum. On Monday, 20 May, news reached the media that the US Securities and Exchange Commission (SEC) asked companies to update Form 19b-4 in applications for launching spot Ethereum ETFs in an accelerated manner. After these news, the financial agency Bloomberg immediately raised the chances of such funds being approved from 25% to 75%. Against this background, the leading altcoin quickly outpaced the flagship cryptocurrency in terms of growth rates.   The deadline for the first two applications from VanEck and Grayscale was Thursday, 23 May. Shortly before the X hour, ETH/USD reached $3,947, showing a growth of almost 30% in three days. According to Coinglass, the amount of liquidations and forced closures of short positions on crypto exchanges amounted to $340 million. A total of 78.8 thousand positions were liquidated, and the largest individual liquidation occurred on the HTX exchange for the ETH/USDT pair for $3.1 million.   The SEC did not disappoint expectations and on 23 May approved not two but a total of eight applications for the issuance of spot ETFs based on Ethereum and gave the go-ahead for trading and listing these funds on exchanges. According to Variant Investments Chief Legal Officer Jake Chervinsky, this step signals a "significant shift in US crypto policy, possibly more important than the ETFs themselves." This may also mean that recognizing ethereum as a commodity, the regulator will not categorize many other altcoins as securities. According to Rekt Capital, the market is already on the verge of an altcoin rally, the peak of which is expected in July.   Experts expect significant capital inflows after the listing of ETH-ETFs and believe that billions of dollars will be invested in derivatives in the first week after trading starts. Analysts from QCP Capital believe that the altcoin rate in the short term can rise to $4,000 and exceed $5,000 by the end of the year.   An even bolder forecast is given by Standard Chartered Bank economists. They expect capital inflows into such funds in the first year to range from $15 to $45 billion (2-9 million ETH). In this case, the fund's demand will lead to the asset's rate rising to $8,000 at a bitcoin rate of $150,000. Moreover, if market dynamics are positive, by 2025, the price of Ethereum will reach $14,000, and bitcoin's rate will increase to $200,000.   As of the evening of Friday, 24 May, BTC/USD is trading at $69,900, and ETH/USD at $3,735. The absence of an immediate pump and some drawdown of this pair on 23-24 May can be explained by the fact that everyone who wanted to has already managed to buy ethereums ahead of the SEC's historic decision. The total cryptocurrency market capitalization is $2.55 trillion ($2.42 trillion a week ago). The Bitcoin Fear & Greed Index (Crypto Fear & Greed Index) has not changed and remains in the Greed zone at 74 points.   And in conclusion of the review, forecasts from Artificial Intelligence. The latest version of GPT-4o from OpenAI believes that the price of bitcoin on 1 August 2024 will be in the range of $76,348 to $89,108 "considering current market factors and historical trends." GPT-4o's competitor, the anthropic AI model Claude 3 Opus, has formed an even more optimistic vision, designating the range between $105,072 and $167,808 by the indicated date. NordFX Analytical Group   Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/ 
    • Там то и тыкать не особо нужно, включил и пускай фармит. Это в других тапалках (и то не во всех) нужно каждый раз тыкать, тут почти пассив 😉
    • Полиция Южной Кореи раскрыла крупную группу криптомошенников   Южнокорейские полицейские арестовали 19 человек, которые выступали участниками мошеннической группы, действующей в социальных сетях. По данным властей, задержанные управляли открытым чатом, через который обманули сотни криптовалютных инвесторов.   Изначально мошенники предлагали пользователям чата законные способы вложений в цифровые активы, используя их некоторые инвесторы даже смогли получить прибыль. Такие действия преступников должны были усыпить бдительность, чтобы в дальнейшем люди без раздумий инвестировали в незарегистрированные криптовалюты. Когда инвесторы поняли, что их обманули, они потребовали вернуть деньги, но мошенники к тому времени уже заблокировали доступ к чату.   В результате расследования правоохранители выяснили, что в сети мошенников попали 308 человек, которые в общей сложности лишились примерно $19 млн.   По данным полицейского управления Южной Кореи, ещё как минимум шесть преступников находятся на свободе, скрываясь в других странах. Интерпол уже получил «красные уведомления», предписывающие арестовать их. Все участники мошеннического чата были завербованы главарём, чьё имя пока не раскрывается. Он помогал им незаконно въезжать в страну, а затем забирал у этих людей паспорта и мобильные телефоны, чтобы принудить к сотрудничеству. Источник - https://ru.investing.com/news/cryptocurrency-news/article-2425428
    • Даа, лучше поздно, чем никогда. Все таки будем вернуть свои ошибки, когда альты тоже будут расти. Но биткоин пока уверенно себя ведёт, я уверен что до конца года дойдет хотя бы до 90к. Эти альты меня так пугали, что с очень осторожностью покупаю их. 
    • Добрый вечер, уважаемые пользователи! Мы работаем ежедневно с 10:00 до 22:00 (МСК)  - Дорогие друзья, напоминаем Вам про #Акцию, дарим бесплатные AML проверки, для этого нужно обратиться в Telegram с сообщением "бесплатная AML проверка". Желаем Всем тем, кто работает - прибыльного и продуктивного дня. А тем, кто не работает - хороших выходных.
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