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/biz/ - Business & Finance

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9055848 No.9055848 [Reply] [Original]

SEC rules coming in 2018

they will be judged securities

source

>> No.9055893
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9055893

full article

press s to spit

>> No.9055973

this guy was Hillary's campaign finance chief. he should probably be in jail not teaching at college

>> No.9055988

Tl;dr

>> No.9056024
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9056024

this is "china bans bitcoin" tier news/fud.

SEC is too smart to full out ban cryptos overnight. their function as an organization is to protect investors, and this would in theory wipe out every investor, which is something they would NEVER do. they may determine them securities but there would be a generous grace period, licenses would be granted, or a grandfather clause implemented. plus the IRS made billions over our gains.

things that aren't mainnet yet I would be much more worried about.

>> No.9056043
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9056043

Kek
Why is this bad thing? XRP will prob moon to 1k if security

>> No.9056098

>>9056043

enjoy having your tokens frozen on an exchange by court order for years

>> No.9056102
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9056102

ETH and consensys lawyers already have “no action letters” from the SEC.

Stay poor bitchcoin fag.

Xrp isn’t even a cryptocurrency

>> No.9056129

>>9056024
Hehe, that Chinese person saying he can’t understand what they’re saying but it still sounds cool

>> No.9056159

>>9056098
>implying I store coins on an exchange
Nice just atomic swapped to an unknown amount of Monero

>> No.9056164
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9056164

>>9056024
>SEC is too smart to full out ban cryptos overnight. their function as an organization is to protect investors, and this would in theory wipe out every investor, which is something they would NEVER do.

you are legitimately retarded, acting like you know what the sec will do when this guy is former CFTC regulator.

1. xrp and eth are a fucking pimple compared to the securities market cap.

2. everybody knew or should have known this shot is coming by now

3. your not an investor, your a dumb ass that purchased illegitimate securities which were issued in contravention of securities law.

your free to believe the best possible outcome, but i wouldn't be so sure

>> No.9056176

Fuck ripple

>> No.9056212

Might not kill them but can cause alot of trouble with constant lawsuits and rulings

>> No.9056258

>>9055848

https://www.youtube.com/watch?v=jpCWCm4KbiM

>> No.9056262

>>9056164
regulators are not out to see the world burn, and that's a fact. he's a journalist so he sensationalizes, that's what journalists do. this is a warning shot across the bow for future crypto companies. also I wish XRP was destroyed over this because it's a total piece of shit but it won't be.

>> No.9056422

>>9056262

dude. if you are smart youd get the fuck out now

otherwise you are literally relying on the sympathy of regulators who are guaranteed going to act this year.

>> No.9056458

>>9056422
I work in finance and actually work with the very regulators you speak of. I understand why you see it this way though. before I had this job I assumed they were out to get everyone too. their function truly is to protect people from their own stupidity. even if a company messes up, they work with them to fix it before any news comes out.

>> No.9056683

>>9056458

i understand, so what we can expect is a trickle of warnings with increasing levels of authority until it's clear to everyone that the determination will be made they are securities.

>> No.9056771

>>9056683
yes but on the side deals will be made as well. polo is rumored to be the platform that will first support securities in full since a goldman sachs startup bought them. so you probably want to get your verification done there now if you haven't already. I suspect gemini will also strive to be compliant as soon as they can.

XRP is probably more in danger since it was never proof of work and is the most manipulated coin in the past 5 years.

>> No.9056819

Near 100% certainty there will not be retroactive enforcement. The SEC will put regulations on Ripple going forward to comply with. And will be in effect at the same time forward looking regulations on exchanges operating in the US.

Ironically XRP is better suited to comply with regulations given Ripe the company oversight. Not sure how Ethereum Foundation will comply.

>> No.9057333

Riiiiggghhhtt. Coinbase is basing their entire business off Ethereum and ERC20 tokens. And you don't think they would have known this? Kys.

>> No.9057408

I wonder what corecucks would have to gain by spreading this fud against their 2 biggest competitors.

Corecucks are really the worst.