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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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In fact, this is more money than has ever been converted into bitcoin in 15 years. We've only been working with ETFs for about three months, and we've received about 10% of what I think comes into this area from registered investment advisors who control all the boomers' money," stated Yusko, adding that the inflow could potentially increase the crypto market's capitalization to $6 trillion.   – American regulators, according to the administrator of Bitcoin.org known as Cobra, are preparing to impose a complete ban on self-custody of cryptocurrency. This means that US citizens will have to involve intermediaries who will store digital assets. "If you think the government won't come for your bitcoins, you simply haven't paid attention to this," Cobra scares readers on the X social network page. Cobra recently assured subscribers that a split might occur within the Bitcoin community. There are those who want the network to remain unchanged and those who would like to add more features to Bitcoin, expanding the network's capabilities. Cobra is confident that these disagreements could negatively affect the ecosystem of the first cryptocurrency.   – American entrepreneur and investor Chris Dixon criticised the tightening measures taken by regulators regarding cryptocurrencies. The US Securities and Exchange Commission (SEC) is increasingly suing crypto companies, claiming they are trading unregistered securities. This has caused Dixon great concern. "The US has an absurd cryptocurrency regulation regime. [...] Major industry companies developing blockchain-based solutions face constant pressure. Existing rules encourage platforms to host only memecoins, which can be freely traded on markets without any restrictions, rather than other more useful crypto assets," stated Dixon. Further in his forecasts, the administrator of Bitcoin.org under the nickname Cobra believes that the US authorities are preparing to introduce a complete ban on self-custody of cryptocurrency. This means that citizens of the country will have to involve intermediaries who will store their digital assets. "If you think the government won't come for your bitcoins, you just haven't paid attention to this," Cobra scares readers on the pages of social network X.   – The Federal Court of Seattle (USA) has delivered a verdict in the case of the co-founder and former CEO of the largest crypto exchange, Binance, Changpeng Zhao. It is noted that the businessman was accused of crimes related to money transfers without a license. While the prosecution had requested three years of imprisonment, the defense suggested settling for five months of probation. Representatives of the Justice Department insisted that probation for CZ was inappropriate as "such a decision could encourage others to break the law on the largest possible scale." The defence argued the absence of evidence that the defendant was informed of the illegal activities on the exchange. As a result, one of the wealthiest people in the crypto industry got away with four months of imprisonment. Addressing his final words, Changpeng Zhao acknowledged that he had failed to properly establish a suitable client verification system at Binance and to counteract money laundering during his tenure. Recall that in November 2023, Zhao reached a settlement with the US government to end a years-long investigation against Binance. As part of the agreement, he stepped down as CEO and agreed to pay a fine of $50 million. However, as we see, the US authorities found this insufficient, and now, in addition to dismissal and a fine, a prison term has been added. Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/
    • Почему цена биткоина столь волатильна и наступит ли стабильность?   Биткоин по-прежнему поражает своими непредсказуемыми изменениями цены. В момент своего создания его стоимость равнялась нескольким центам, а в марте этого года он достиг рекордного максимума на отметке почти $74 000. Этот долгий путь был отмечен крайней волатильностью, а иногда его колебания превышали 80%. Понимание нестабильной природы биткоина имеет решающее значение для успеха инвесторов и аналитиков, поскольку помогает составить представление о будущем криптовалют. Волатильность биткоина обусловлена множеством факторов, которые заключаются в характеристиках очень молодой цифровой валюты. В отличие от традиционных активов, имеющих многовековую историю, биткоин и рынок криптовалют в целом не имеют устоявшейся динамики рынка. В настоящее время из-за манипуляций его стоимость регулярно переоценивается рынком, что приводит к большим колебаниям цен в ответ на новую информацию и события. Одним из фундаментальных факторов, влияющих на волатильность BTC, является лимитированность его предложения в 21 миллион монет. Усиливающийся дефицит монет усиливает колебания цен, особенно на фоне растущего спроса со стороны розничных и институциональных инвесторов. Кроме того, влияние крупных инвесторов, которых обычно называют криптокитами, ещё больше усугубляет волатильность цен. Их значительные активы позволяют им влиять на динамику рынка с помощью крупных ордеров на покупку или продажу, что также приводит к резким изменениям цен. И здесь следует упомянуть относительную незрелость инфраструктуры рынка криптовалют и проблемы с ликвидностью, поэтому любые крупные сделки, безусловно, влияют на рыночные цены. Недостаток ликвидности может усилить колебания цен, поскольку инвесторы маневрируют, открывая позиции и выходя из них. Считалось, что появление деривативов, связанных с биткоином в виде спотовых ETF, и развитие рыночной инфраструктуры могут сделать торговый процесс более стабильным. Пока же мы наблюдаем резкие скачки из-за крупных притоков и оттоков средств. Источник - https://ru.investing.com/news/cryptocurrency-news/article-2410618
    • April Results: A British Pound Trade Nets NordFX Client Over $25,000 in Profit     Brokerage firm NordFX has summarized the trading performance of its clients for April 2024. The efficacy of social trading services, PAMM and CopyTrading, as well as the earnings of the company’s IB-partners were also evaluated.   - This month’s highest profit was earned by a client from South Asia, account number 1765XXX, who made $26,757 from trading the GBP/USD pair. - The second place in the TOP-3 was taken by their compatriot, account number 1751XXX, with earnings of $16,976 from gold trades (XAU/USD). - The third step of the April podium was claimed by a trader from East Asia, account number 1609XXX, who traded not physical but digital “gold”: bitcoin. It was the BTC/USD pair transactions that enabled them to profit by $14,301.   The passive investment services at NordFX showed the following trends:   - In the PAMM service, we continue to monitor the account named Kikos2. Opened on November 18 last year, now after 162 days of operation, it shows a fantastic profit of 1161%. While this result is impressive, the aggressive trading strategy has also led to a substantial drawdown of 58%. Unrelenting statistics demonstrate that even more conservative trading can lead to a complete loss of funds. Therefore, investors must always exercise utmost caution and only risk the money whose loss will not disrupt their normal life. We will continue to monitor and see what happens with this account in May.    - In CopyTrading, we have previously highlighted the signal yahmat-forex, which has shown a return of 415% over 312 days with a maximum drawdown of 37%. Another interesting signal called NordFXSrilanka has made a profit of 39% in 113 days, specifically since January 6, 2024. While not as impressive as yahmat-forex, its notable advantage is a very small drawdown: just about 9%.   Among the IB-partners of NordFX, the TOP-3 are as follows: - The largest commission reward of $22,732 was credited to a partner from Western Asia, account number 1645XXX. - The next is a partner from South Asia, account number 1682XXX, who received $5,224. - Finally, rounding out the top three is their compatriot, account number 1565XXX, who was rewarded with $3,614.   ***   As we conclude this month, it is important to note that NordFX clients now have yet another excellent opportunity to enhance their financial portfolio. In the 2024 super lottery, 202+4 cash prizes totaling $100,000 will be awarded. Participating in the lottery and securing a chance to win one or even several of these prizes is quite simple. For more details, visit the NordFX website. Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/
    • Со временем которое осталось, да скорее все так и может быть, но лучше будет постараться дойти до 6-го уровня, то есть довести дело до конца, а после и расслабиться. Хотя даже так увы нет никаких гарантий, что это может нам что-то принести, но будем надеяться, что 6 лвл будет иметь весомое значение при раздаче.
    • SwapGate | Efficient Cryptocurrency Exchange SwapGate provides you with an innovative platform for instant cryptocurrency exchange. Our mission is to offer a fast, secure, and convenient exchange service for over 100 types of cryptocurrency assets without the need for lengthy registration and KYC procedures. Our service works 24/7 and you can already make your cryptocurrency exchanges now. Our platform is simple, easy to use, and built for efficient cryptocurrency transactions. Here are our key features of the SwapGate platform:  Fast and Affordable: Start exchanging instantly without going through registration. Transparent terms and conditions: We guarantee no hidden fees and fair transaction terms.  High security: We use advanced encryption and security technologies to protect your data and funds. About SwapGate: At SwapGate, we are committed to continuous development and innovation. Our team are professionals in their field, united by a common goal to create an efficient cryptocurrency exchange platform. We strive to offer the best service and constant online customer support . You can efficiently perform cryptocurrency manipulation on our website, and here are the short steps to exchange on SwapGate:  Asset selection: Determine which cryptocurrencies you want to exchange.  Determining the exchange rate: Choose a floating or fixed exchange rate.  Confirm & Send: Confirm the transaction details and send the cryptocurrency to the specified address.  Receive Coins: Track the exchange process in real-time and receive your cryptocurrency to the provided wallet. Join SwapGate and make fast exchanges without hidden fees! ️ SwapGate has a seamless support team ready to assist you with your cryptocurrency exchange needs. For more information, please get in touch with us:  Online chat: On the website, click on the blue dialog box  Email: info@SwapGate.io  Tech Support: @SwapGate_SupportBot on Telegram SwapGate is the choice for safe and easy cryptocurrency exchange with favorable fees. Easily exchange fiat for cryptocurrency and one cryptocurrency for another. Join us on https://swapgate.io and enjoy fast transactions now.
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