Well I would say the stakes for evolve and coinnexx and some other crossovers are pretty high, whether the developers realize it or not they created some phenomenal systems that have all the money opportunities. I suppose there’s a bit of debate on what was more profitable this year, forex or crypto, but god knows with evolve and coinnex offering leverage on certain alt coins…and there’s also an options platform for btc as well…
I do plan to more so personally approach the devs of these exchanges, but I need to try to assume whatever legal protections for them I can. No one is really going to be able to defend themselves but Arther Hayes, and I’m sure he’ll throw everyone under the bus when pressed. I want to be as compliant as I can, and I want the little devs to be compliant. Needless to say CFTC is on a rampage. . so much for Gian Carlo’s empty promises.
Block DX is an example of a decentralized, peer to peer, wallet to wallet, exchange. This and software like it might eventually solve many issues. There’s not enough liquidity right now. Same for other marketplaces. But, there will soon be many decentralized crypto exchanges. Theoretically, you could trade any one instrument for another without any middlemen. Most appear to have REST APIs.
Dominica 100K, Antigua 100K, Grenada 150K & St Lucia 100K… all offer citizenship by investment programs. However, prices have dropped to those levels over the past few years due to a massive drop in demand once all newly issued passports started showing place of birth. They are pretty much useless to US citizens for account opening purposes now.
just found this statement at the bottom of Evolve homepage
“Evolve Markets does not provide services to residents of the United States. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation”
Well yes if decentralized crypto exchanges had distributed servers and liquidity and adoption, none of the three which they currently have. But if uncle sam wanted to cyber attack them it could, and would most likely. They don’t care currently because the dex don’t offer leverage or have any traction/traffic. DEX are still very important though, and helpful even now. .
You are right, Jack. “Decentralized exchanges are in their infancy and lack distributed servers, liquidity, and adoption”. Still, the future is coming. There’s no stopping the tide.
A better strategy for governments than trying to quash it would be to embrace it and reap the benefits as much as possible (fairly regulate and tax).
If leading a Bronze Age empire, it would be unwise to stomp out all of those new-fangled marketplaces cropping up everywhere.
In much the same way, inhibiting trade and innovation today is not a productive strategy. A far better plan is to encourage it, even if it is not entirely controllable. They should just focus on what is important to control and let the markets do the rest. (preaching to the choir in this forum, I’m sure! )
Just found this info on tallinex from FINANCIAL SERVICES AUTHORITY of St Vincent & The Grenadines
The Financial Services Authority (FSA) wishes to advise that an entity called Tallinex Limited claiming to offer Forex trade Services as a registered St. Vincent and the Grenadines (SVG) International Business Company (IBC) is not and has however never been registered by the SVG FSA to conduct that line of business.
The entity advertises its services through the website, www.tallinex.com and has as its address Jaycees Building, Stoney Grounds, Kingstown, SVG. Tallinex Limited responded the following to a question, “Is Tallinex Regulated?” on its “FAQ” which may be suggesting that it is so regulated by the FSA pursuant to the IBC Act which is administered by the FSA.
“The Financial Services Authority (FSA) in St Vincent and the Grenadines is responsible for ensuring that Tallinex complies with its obligations under the IBC Act. The FSA enforces strict business practices equal to or exceeding requirements of financial services regulators in other countries.”
However, please be advised that Tallinex has been engaging in forex trading business at its own risk or at the risk of the jurisdiction where it obtained authorization to conduct such business as it is not regulated by the FSA.
ok i fund my account with coinexx about a week ago small amount but i found this info at the bottom of there home page so i did some research
The website www.coinexx.com is operated by Coinexx Inc with registered address at First Floor, First St Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
Risk Warning: Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your investment. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite, and if necessary seek independent advice to full understand the risk involved Risk Disclosure.
There is no coinexx.com register in St. Vincent and the Grenadines., i will continue to do more research
Not sure, but I thought they were out of Edinbugh, Scotland; although
perhaps they are moving jurisdictions anticipating future events ! I don’t
remember whether the registered address was Edinburgh or whether
it was just an office. Chat guys say they are in Edinburgh… I like that
they speak a version of English, which is Scottish ! lol I speak a
version of English, which is called American…
[EDIT] I wonder how BREXIT in March will affect the Forex regulatory
business in the newly detached U.K. ?? Could only be a good thing,
I would imagine… versus European Union regulation.
It is my opinion that Brexit will have no impact on the regulation of the forex market, or any other financial market, in the U.K.
The U.K. is a member of The International Organization of Securities Commissions (IOSCO) and, as such, has entered into numerous Multilateral Memoranda of Understanding (MMoU’s) with that organization. In fact, the U.K. (along with the U.S. and other major players in world markets) is one of the heavy-weights in the IOSCO syndicate.
IOSCO is the vehicle by which the CFTC is securing its position as World Forex Police.
Brexit represents the divorce of the U.K. from the E.U. Brexit will not affect U.K. membership in IOSCO, and will not alter the U.K.'s obligations under IOSCO MMoU’s. We can expect the U.K.'s FSA to continue to work hand-in-glove with the CFTC before, during, and after Brexit.
For more on IOSCO, and Multilateral Memoranda of Understanding, see this post —
I see this: “Customer also hereby confirms that these funds are free of any liens or debts, are clean and non-criminal in origin and do not originate from the United States of America or any country on the Office of Foreign Assets Control (OFAC) List. As such, Customer agrees to comply with any request to provide additional documentation that is requested by Hugo’s Way and its representatives.”
What does that mean? “do not originate from the United States of America” ?
[EDIT] I chatted with one of their agents, and they did say their ECN accounts
were variable spread plus commission. The spreads they advertise are not
great, but OK for many purposes. Their MT4 servers are located in U.S. NY4
apparently, which sounds OK. They said their standard commission was
$5 / lot which I am assuming is one side, but I didn’t ask if it was round turn,
[EDIT] I guess it is round-turn and that is quite good
sorry. Their spreads were about twice as wide as Dukascopy’s new MT4
accounts show… In general, seems like an OK brokerage. BTC transfers
can be used, which I think is good. They seem accepting of U.S. persons
but I used a Canadian VPN to ask the questions, and it wasn’t “No” anyway…
when I asked whether I could recommend my U.S. friends to apply for
an account.
)