That bill either never passes in the house or never gets to the floor in the Senate. Too many on both sides take wall street/bank money.
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WOW!! This place has turned into 100% regulation watch lol. I Have not been around here for a while since I moved my trading to futures & prop firms.
Once the Fed Coin was announced last year the hand writing was all over the wall. The competition had to be crushed at all costs or put in the hands of SEC regulated Wall street firms. They are now attacking the biggest US exchanges to block/control the offramps to USD. They are also going after ETH to control stable coins. If they are successful, offshore trading for US citizens will be a distant memory.
Currency Futures were introduced decades before spot retail FX. Too much of a threat to Chicago CME volume? Get Chicago Politian Obama to return the favor of years of campaign contributions by over regulating FX.
CFD’s too much of a threat to Comex, Nymex, CME, Amex, Nasdaq & NYSE volume? Get the politicians to ban them from the US.
I will never forget that Trump was hostile to crypto and his Treasury secretary Mnuchin tried to slip in some draconian crypto rules right before he walked out the door @ the end of the last admin.
I remember when there was huge optimism in this thread in 2016 that Dod Frank would be repealed. Did Trump even say a damn thing about Dod Frank in his 4 years? The majority on both sides are a bunch of crony capitalist crooks!
The real scary thing about CBDCs is that they will work & be wildly popular… Disability, social security, paychecks, alimony, child support ect. deposited in seconds including weekends! The general public is going to love it.
This is the same general public that has ring door bells, has Alexa speakers all over their home, post their life on facebook & IG, walk around with cell phone cameras connected to the internet & device location tracking their every movement, purchase everything with credit/debit cards… they easily gave up their personal freedom over a decade ago.
Rant Over!
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Agreed but I must say that anyone with modern technology including computers can be monitor or as you like to say gave up their personal freedom a long time ago, that includes me and you typing from our modern devices
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The CBDC privacy discussion is a non issue with me… that train left the station with the internet in 1995 & smartphones with cameras and gps tracking in 2007. It’s the control and shutting down/over regulation of crypto as a payment option that concerns me.
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It’s a good start, but we need to see all the details that could help or hurt retails traders or people who just use cryptocurrency to transfer money like me. As you can see congress only take action when money comes into play
Crypto’s House win collides with Senate skepticism
House Republicans are about to hand the cryptocurrency lobby a big win via legislation that would set up special rules for trading digital assets.
There’s just one problem: A growing and bipartisan group of senators – including everyone from Sens. Mitt Romney (R-Utah) to Elizabeth Warren (D-Mass.) – is rallying behind a crackdown that crypto firms hate, following a wave of scandals and fears that digital currency is ripe for criminal abuse. They want to impose new safeguards designed to root out crypto’s use in money laundering.
Even allies like Sen. Cynthia Lummis (R-Wyo.) — dubbed the Senate’s “crypto queen” — are warning that the industry needs to accept the emerging political reality.
“If we can get this part of it addressed from the very beginning, before the regulatory framework is passed, then we’ve taken that concern off the table,” Lummis said in an interview. “And we can actually talk about digital assets in terms of how to regulate.”
The divide in Congress illustrates a new political challenge for crypto exchanges and token providers.
They made big advances in winning over Washington in recent years, and that lobbying campaign is helping drive a major victory in the GOP House. But recent revelations of widespread mismanagement and fraud, long-running concerns about crypto’s use to facilitate criminal transactions and the lack of clear economic benefits have left a critical mass of lawmakers unwilling to grant the industry its legislative wish-list scot-free.
Anyone here know what the connection is between EagleFX and Cryptorocket. I received an email from both about updating access to MT4. Thanks.
There are serval Brokers that use the same prime broker or broker service, those two brokers are not the only ones in that group, I got the same email from all 4 of the brokers.
Did you also get this Email
Dear Client,
Our liquidity providers have taken the decision to remove NEOBTC from our trading options, starting from August 1st, 2023. The option of trading in NEOUSD will continue to be accessible if you hope to continue to trade NEO.
Clients holding open positions are requested to close their positions before 14:00 EST, July 31st, 2023. All remaining opened positions will be closed by EagleFX. Clients without open positions are recommended to avoid trading.
We apologize for the inconvenience
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Thanks. You mentioned four? What are the other two brokers in the group?
Eaglefx
Cedarfx
longhornfx
crytporocket
Hugosway
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Complete thugs…
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Totally agree. The SEC needs to be investigated, as do the recent Wall Street bankers who initially opposed crypto currency, but after the lawsuit entered the crypto market
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It is a tough situation, honestly. If a police officer gives you a lawful order that you doubt is legal, you should still try to comply (within reason) and fight it later in court if you have proof. That is the correct way to handle it. Fighting a lawful order at the time usually doesn’t end well, even if you know that you are correct, and can even create a situation where legitimate charges can be brought against you as a result of your noncompliance.
However, I can understand Armstrong’s concern that compliance at the time would have set a precedent that would undoubtedly have lead to the end of the crypto in the United States (well, the end of Coinbase, anyway). Going to court and fighting it was the correct thing to do, I think, but whether or not refusing to comply with their order to de-list was correct is unknown to me. Probably, they will pay heavy fines for it, at least.
After all, the SEC has the authority to make such a demand, especially if they had reasonable cause to believe that the assets were legally considered securities at the time, regardless of how incorrect they actually were.
Certainly, the events that have unfolded over the last year or so have exposed some very questionable things in the way of conflicting interests and who is actually pulling the strings here (and for what purpose). I do believe that crypto is here to stay, even in the United States. Whether or not CBDC’s take a strong foothold is another question. My hope is that these solutions can coexist, but I worry that CBDC’s will become the mandatory method of exchange for many important things, and that could seriously create a dangerous precedent.
We currently live in a world where it seems like we are always fighting government for control; control over our children’s education and health, control over our own rights of self and body, control over which money systems shall be used, control over what we can do with our own money et al… It shouldn’t be this way. The purpose of government is to serve its people. We should have more freedoms and liberties than ever before in history, but it seems that we are going in the opposite direction. I hope that people are paying attention.
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Not only paying attention, but going to do something about it. It all starts with who we elect, although they seem to control who wins anyway.
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Not only controlling who wins in some respect, but controlling what they do after they win. If you do not play by the party rules, you’re out. You are a puppet to your party and whatever entities have given money to your party. The system is broken and rigged. I strongly believe that unless the system is changed, little will change, regardless of who is elected.
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Legislation that would mostly hand crypto jurisdiction to the CFTC and clarify the SEC’s crypto-related role [passed the House] Agricultural Committee on July 27 after its [earlier passage through] the House Financial Services Committee.
So the republicans are working to hand over control to the CFTC SMH
hmmmmm will the CFTC look to drive more volume to the CME’s crypto futures contracts via regulation?
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Clearly, the entire system is corrupt
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https://www.theblock.co/post/243569/paypal-launches-stablecoin
Anyone here seen broker support for this?
How was your experience with MidasFX (if you opened the account)? I too can vouch that LQDFX is reliable and haven’t had a problem yet. Thanks!
has anyone ever withdrawn or know of someone who was withdrawn 5 or 6 figures out of an offshore account. eaglefx to be exact