What stops Cryptocurrencies Development

Lebedev

Lebedev

Moderator
Moderator
Jun 26, 2018
153
Points
1,153
For whom bitcoin isn't profitable? Why institutional investors might affect the industry? And who is a common person for a government? Let's try to figure this out

Nothing Special, but a Personal Opinion

US Securities and Exchange Commission (SEC) is continuing to postpone final decision about Bitcoin-ETF, platform which might help the crypto industry a lot and even change the global vision of the technology, but all of these can be done only after the commission approval what will bring giant investments.

What stops Cryptocurrencies Development

This way, the head of American financial regulation has again postponed the session dedicated to the release of the first stock exchange based on bitcoin. It's now going to take place on 27 February 2019, and how they say it is the last day when the request must be answered due to the law, which says that no more than 240 days can be used for an application.

But there will be nothing strange in case commission finds more reasons why to put review of Bitcoin-ETF legal status away for another few months - it will probably happen if law allows to, while the law probably does.

Another reason why postpone might take place again is what commission head Jay Clayton said: the final decision of ETF shouldn't be done until there are manipulations on the crypto market. It's his own option, though he has a big influence on the financial regulation.

It seems like the decision will be done in the very last moment and stock exchange will start its work. Lots of players are sure in the positive end, these are Chicago Board Options Exchange (CBOE), where the product will work, and directors of VanEck company, whose application is still being reviewed and event the SEC workers, however, no one can say for sure when it will be done.

Other things important for the industry are release of Bakkt platform, which might also be postponed and recent announcement of Nasdaq going to start offering bitcoin-futures.

All the people keen on cryptocurrencies are now watching after what happens, because these will probably help the industry to get big capitals, what in its turn will help to develop blockchain technologies.


And here's a Question, are Institutional Investors so important for Cryptocurrencies?

Their appearance in the industry will probably cause issue of laws about crypto regulation and lots of other sequences.

We will get guarantees, safety and opportunity to do the investments easily, all the benefits however will regulated by government, what means no anonymity anymore, because country leaders won't allow such a thing.

Anonymity used to be the most important benefit of cryptocurrencies - this is what still makes them valuable. But after the legitimization coins will just become common currencies controlled by governments.

On the other hand, let's say that we need neither institutional investor nor regulating laws, in such case countries will continue to interfere the industry development, simply because they don't need another instrument inside the world financial market, especially when this instrument can offer freedom to common people who used to live under the government but not with it.

An old leadership rule “destroy what can not be controlled” has been used for long years, but now all of us have an opportunity to break such and create a new fair one.

All people considered to be slaves these days, while crypto is an easy way to get out of such relation, this is why rich and influential countries don't want bitcoin to become spreaded, while poor and dependent countries use cryptocurrencies to go over the sanctions.

For example, we can take a look at El Petro or Iran national cryptocurrency which were created to destroy the sanctions influence but which are now facing very big problems caused by developed countries, just because with their national cryptocurrency they will get full financial freedom.
 
Last edited by a moderator:
  • Like
Reactions: Margo
Advertise Here!
BitStarz Casino
Investment Offer
Coin Payments
Best Change
Advertise Here!

Rules Help Users

You haven't joined any rooms.

    You haven't joined any rooms.
    Forgot your password?