Robinhood’s growing cryptocurrency business, which was rolled out in 2018 and now allows customers to trade Bitcoin, Ethereum and even Dogecoin, has drawn questions from the U.S. Securities and Exchange Commission
The SEC, under new Chairman Gary Gensler, is poised to make a number of critical rulings on the virtual tokens in coming months.
Not looking good for Binance in Europe, including UK…
SEPA transfers to Binance stopped:
Crypto exchange Binance has temporarily halted payments from the European Union’s Single Euro Payments Area (SEPA), according to a Financial Times report citing a company email.
Barclays stopped the card payments/transfers to Binance: **
Barclays said Monday it was blocking customers from using their debit and credit cards to make payments to crypto exchange Binance
An article from 31/May/2021 noticed that some UK banks and fintechs were already blocking payments to the crypto platforms: (Barclays is also one of the banks behind Revolut…)
Major banking institutions in the UK like Barclays have decided to block or prevent their clients from transferring money to virtual currency exchanges. Digital banking Fintechs such as Monzo and Starling Bank have also been cracking down on crypto-related entities and transactions they may be conducting, according to reports.
Barclays, Monzo, and Starling clients have reported that they’re unable to transfer money over to widely-used exchanges such as Binance and SwissBorg.
Binance pays its people in a digital token of its own creation, BNB and something happened…
When the BNB token was less liquid, some workers recall its price spiked just before paydays, resulting in fewer Binance-created coins to meet payroll.
Binance may have violated securities rules when it issued tokenized shares of Tesla Inc., MicroStrategy Inc. and Coinbase Global Inc., BaFin said Wednesday.
Not only Bloomberg, we “must” have a critical thinking in everything.
I have some relations with financial regulators, and they are very rigid in defending their turf, securities, derivatives and other exchange traded products (maybe because they earn fees and commissions from issuers and other financial institutions ). And if someone issue unregulated securities or derivatives, etc, the hammer will fall very hard on them.
Security token offerings (STOs), tokenized securities and crypto derivatives are already regulated by the major economies, e.g. US and EU. They must follow their regulation and legislation. An illustrative example below, as their are lot of papers from regulators, BIS, FSB, Central Banks and securities financial regulators that explain with more detail:
I should add that Tether is a disaster waiting to happen but it’s like nostradamus going well it’s going to happen year after year, it’s all going to end, when/if it does going see told you.
Is USDT a shitty stablecoin, 100%.
Does it deter anyone holding USDT that it’s not backed, not so far.
There’s been a shift towards USDC for those holding in finance products.
However most pairs continue to be USDT in trading, and traders are fine with that.
It’s up there with China banning Crypto for the 26th time. And next time BTC is on the ropes it’ll get wheeled out again.
Well that example of picking Bitcoin and nine alts and the percentages represent how much they would make up of your crypto portfolio.
So say you can afford to put in say ~£5k a year towards crypto long term holdings. You might put in £100 every Sunday regardless of what the current prices are (£5200 over 52wks).
With that £100 you’ll want to buy:
£25 each of BTC and ETH
£10 each of DOT and ADA
£5 each of SOL, UNI, LINK, MATIC, AAVE, and ENJ