Coinbase To Add 300 Coins; 4000 DASH Merchants; Asia Bitcoin/Altcoin Regulation



hello everyone welcome back to another episode of crypto vizor where we talk about everything cryptocurrency blockchain and investing thanks so much for the support we continue to grow the channel daily uploads I know I miss yesterday sorry about that guys a lot going on but we are back and a lot of news is coming out a little bit of mixed news while the market is fairly stable there's a slight dip earlier in the week but if you like everything crypto blockchain and investing hit the subscribe button for more iron daily uploads moving along to today's news coinbase exec denies plans for IPO anytime soon and reveals plans to add up to 300 coins major US cryptocurrency and wallet provider coin base will not perform an initial public offering also known as IPO anytime soon the company's president and CEO o Asif here she told Bloomberg today October 31st speaking to Bloomberg TV here G who himself was the first to hint about a potential for an IPO in 2017 said while the company would go public at some point it was not even close to the top of its list of priorities he confirmed to reporters today which was yesterday there's not gonna be an IPO anytime soon we have so much to do last week CNBC hosts ran newer reignited rumors coinbase would officially confirm its IPO plans after claiming his crypto traitor show would be extensively sorry exclusively divulging the details on october 26 that did not come to pass however here she instead saying executives wanted to diversify revenue streams across its various platforms in the coming years going forward here's you continued coinbase would seek to circumvent complex US regulations on crypto currency tokens by offering non-residents more assets to trade he said quote we offer seven crypto currencies so you should expect us to go from seven to that total number we think is worth it 200 to 300 over the next year or so he said adding some things will be offered in the US but more things will probably be offered outside the US the move copies fellow exchange bit tracks which announced the segregation of its us international client base this week via a separate platform registered in Malta so we see this continuing to happen we saw this in China when China banned crypto currency crypto currency trading a lot of the comp number one it continued to occur in China and still occurring today even through the ban and – a lot of the companies that wanted to stay legit left the country and the same thing is clearly happening in the United States we know that coinbase is opening up overseas offices in certain places like Japan and they are looking to get regulated there when this continues to happen these companies are going to exit the United States I wouldn't be surprised if at some point ripple exits the United States if the regulations and if the certainty around the laws and regulations and especially the tax implications of crypto are not clarified by the US government we're gonna continue to see this happen just like anything if the u.s. is not the place for it to be they're gonna go elsewhere and the US has not done really anything thus far to clarify publicly stance on taxes for crypto or the specific regulations involving crypto currency very very interesting moving along with that and big banks I think are pretty scared and I think that we know that they have a lot of lobbyists that try to navigate the laws or regulations Jamie Dimon comments on Bitcoin yet again says he doesn't give a about it so this is a you know a picture or a painting or a drawing whatever you want to call it of the JPMorgan CEO Jamie Dimon he said on October 31st Damon made his reluctant comments at the Axios conference in Los Angeles on Tuesday referring to his now notorious statement the nakamoto's invention is a little more than a fraud the CEO told the audience quote I never changed what I said I just said I had sorry I just regret having said it I didn't want to be the spokesperson against the Bitcoin I really don't give a that's Joaquin is real it's technology but bitcoin is not the same as fiat currency as previously reported diamonds history with Bitcoin dates back to September 2017 when his critical rhetoric caused a sharp fleeting dent to the assets price after pledging to keep silent on the matter this january the CEO again became embroiled in Bitcoin talks saying he regretted his early choice of words all the while reaffirming his avowed indifference despite the CEOs ambivalence senior figures within the banking giant sorry have hinted at a potential potentially more receptive stance towards the crypto space although the institution's signals regarding crypto are resoundingly mixed not going to get into this entire article about it but long story short is this guy is a head of a very large financial institution in the US and while he is you know anti crypto anti you know digital asset we know that other companies like fidelity which is I believe it's the sixth largest asset provider in the world is creating crypto custody for institutional investors and eventually that's probably going to lead to retail investors these big banks need to get on the on the bus quick because while the price is still fairly considered high to normal everyday people to big banks it's fairly low and if they don't get on the bandwagon now unfortunately just like we see with coinbase they're either going to be overtaken by other banks that do accept crypto kind of trading and execution or all that like fidelity or they're gonna become irrelevant it is really really the critical time for these large institutions and it looks like JP Morgan is not getting on the crypto bus and that's fine the bus will leave without them continuing on – passes four thousand merchants hash rate reaches new high as US debt balloons so we have been following – fairly closely here specifically in Venezuela because of what's happening financially sorry in the financial system and economically in Venezuela – adoption and mining cash rate has reached new highs as the US economy shows long-term signs of trouble according to global – merchants listing site discovered – four thousand and fifteen businesses globally except – as a form of payment this is likely a conservative global estimate since many processors such as NGO coin do not publicly list their customers and coin gate alone which enables – payments by default claims 4000 plus merchants worldwide meanwhile – is mining hash rate has reached a new all-time high at the time of writing the current hash rate has reached an unprecedented two point eight nine pedda hashes according to data from bit info charts the previous high was reached in late December at two point six three petah hashes when – reached an all-time-high price of over $1,500 per coin the current new high in hash rate comes as the price remains around ten percent of what it was the previous high was reached the growth and ashes ecosystem comes as other sectors of the economy show signs of worry the u.s. national debt continues to grow at an incredibly rate sorry at an incredible rate fast approaching twenty two trillion dollars according to projections by the committee for a responsible federal budget without changes to current spending policy the u.s. national debt will grow six times the crook of the country's GDP by 2093 when the population born in 2018 will have reached 75 years of age former congressman and US President candidate Ron Paul echoed concerns claiming the unsustainability central banking policies would likely lead to a recession soon would cause oh sorry which could participate a collapse of fiat currencies such as the US dollar in order to avoid such situation Paul recommended favorable tax policies for alternative stores of value such as crypto currencies he said the only way to avoid crisis is to force Congress to end our monetary madness the first steps are passing the audit are passing the audit the Fed bill allowing people to use alternative currencies and exempting all transaction in precious metals and crypto currencies from capital gains taxes and other taxes Paul has been a lifelong advocate for precious metals and other forms of sound money recently placing more emphasis on crypto currencies as an alternative to government controlled money now – in Venezuela this is the exciting exciting part and this could potentially lead to what is going to happen in the US if there's a financial crash like in Venezuela the successes of dash's efforts in Venezuela may become a global template for adoption in the event of a worldwide economic crisis at present nearly 2,200 merchants in Venezuela accept – for payment over 50% of the global known total this is due to the combination of several – teams on the ground pushing adoption for the last year as well as men as well as considerable economic problems with hyperinflation leading to issues storing wealth as well as transacting – has a fixed stable supply and can transact any instantly anywhere in the world for fractions of a cent presenting a superior alternative in the possible event of more failing currencies around the world we may see a similar opportunity for – adoption – rise what they're doing in Venezuela is groundbreaking I don't think that they get enough attention for it we talk about a lot on this channel I mean these twenty two hundred merchants that they've gained literally have been gained in the last year so a lot coming out of Venezuela and the world with – I think – is going to continue to drive and this is what we talk about all the time in crypto is you need to have use cases for and people actually have to be utilizing it for the value to really go up and – seems to be doing a really really good job at that and finally in the news today Hong Kong issues new rules to regulate cryptocurrency funds and exchanges Hong Kong security regulator issued a statement setting out guidelines for funds dealing with crypto currencies Thursday November 1 saying he could move to formally regulate exchanges in what it called guidance on regulatory standards the autonomous Chinese territories Securities and Futures Commission the F s FC set in motion a series of steps that chief Ashley Adler hinted would culminate in a formal regulatory environment Hong Kong differs significantly in its approach to crypto currencies from mainland China with crypto asset exchange and related activities legal through formal regulation is Penn no formal regulation is pending sorry about that the market for virtual currencies is still very young and trading rules may not be transparent and fair Bloomberg quoted elder as saying during a FinTech forum Thursday he said quote outages are not uncommon as is market manipulation and abuse and there are also I am afraid outright scandals and frauds the latest proposal pertain to any fund managers investing more than 10% of their holdings in cryptocurrency with entities serving exclusively professional traders able to join a sandbox scheme designed to give more room to develop new products and services for others a licensing process will require entities to inform the SFC about their business practices now what they are doing is essentially saying no like I'm guessing here in Hong Kong there's a lot of crypto technology being developed and they're like no like you guys need a regulator you can't just ban it but it seems like they are worried about fraud and scams which obviously everybody is but we can't ban things because people are gonna do bad things like they're gonna do bad things anyway we can't necessarily ban a new technology just because we're scared of scams we just have to educate the public about it the statement reads quotes in or to afford better protection to investors the SFC considers that all licensed portfolio managers intending to invest in virtual assets should observe essentially the same regulatory requirements even if the portfolios or portions of portfolios under their management invest solely or partially in virtual assets irrespective of whether whether these virtual assets amounts of securities or futures contracts this is exactly what we're looking for in the US and we're not getting it from the SEC crypto currency exchanges could also fall under the SFC s supervision more directly in the future quote it is proposed that the standards of conduct regulation for virtual asset trading platform operators should be comparable to those applicable to existing licensed providers of automated trading services it adds Hong Kong sharpening of its regulatory oversight comes while more and more jurisdictions move to do the same as Bitcoin and major all coin markets stabilize and general acceptance of their longevity begin to crystallize last week Taiwan announced it would release dedicated rules governing icos by June next year having previously chosen not to regulate the sector I mean if this doesn't tell you what's going on in the rest of the world while we see coinbase is talking about leaving the US and giving up to 300 coins available to non-us residents we see us large Bank JP Morgan CEO basically again saying he doesn't literally saying he doesn't give a about Bitcoin we see – having more than 4000 merchants and you may say well that's a small amount but when you think about that – has really only started to gain more adoption in this past year I think that this is a sign for what is coming and then Hong Kong and Taiwan are clarifying and making very crystal clear what their expectations around cryptocurrency trading and exchanges are will be listen guys do your own research obviously you can't make a decision on what to invest just based on what I say or based on a youtube video obviously always do your own research but to me the writing's on the wall let me know what you guys think in the comments below thanks so much for watching if you like these type of videos and want to hear everything crypto blockchain and investing hit subscribe for more videos like this thanks so much for watching I'll see you on the next video and I hope you have an amazing day

4 thoughts on “Coinbase To Add 300 Coins; 4000 DASH Merchants; Asia Bitcoin/Altcoin Regulation”

  1. Cardano's ADA overtook USDT for the 8th largest market cap last night. ADA is the one to watch through 2019. What a great project 👍🏼

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