Regulation is coming fuckers

[PDFanon !!fRUEr1wCP5l No.29893127]

Some of you might remember me from a few previous threads
>>29846319
>>29849836
I found a new PDF today, nocoiners are going to seethe on this one
https://www.sec.gov/files/digital-assets-risk-alert.pdf
The SEC just outlined a fuckton of clarifications and categories of the crypto space they plan to regulate in the future, i'm going to mention some of the biggest headlines, but the key point to take :
CRYPTO IS a 100% NEVER GETTING BANNED NIGGERRRSS

[Anonymous No.29893154]

>>29893127
It doesnt need to be banned, it will go to zero by itself

[Anonymous No.29893198]

crypto is open source therefore falls under free speech

[Anonymous No.29893255]

>>29893154
lol seethe

[Anonymous No.29893271]

>>29893127
I don't care what a three letter that's four years behind the ball has to say, ever.

[PDFanon !!fRUEr1wCP5l No.29893292]

>>29893127
>Portfolio management. A review of policies, procedures, and practices of investment advisers investing client assets in Digital Asset Securities and other digital assets
This is actually pretty fucking insane, they're going to basically crack down on CUSTODIALS
Think of it as entities that help you hold your shitcoins
Coinbase for example is 2 things : the exchange that allows you to switch coin a for coin b, and the custodial, that holds your coins for you
All these custodial services are about to step up their game to keep up with regulations and risk management requirements from the SEC, this could also involve companies like ledger or metamask, but it MAINLY involves the big players as Elon and others aren't holding their own coins

[PDFanon !!fRUEr1wCP5l No.29893338]

>>29893292
there's also a footnote about airdropped tokens or forks, xrp is about to get cucked on those spark tokens kek, get ready to spit out taxes goys

[PDFanon !!fRUEr1wCP5l No.29893498]

>>29893292
>Custody. Examinations will review the risks and practices related to the custody of digital assets by investment advisers and examine for compliance with the custody rule
Actually they also go more in-depth into the technicals and cryptography involved with private key storage, so metamask and your private wallets fall more into that category desu
>National Securities Exchanges
Pic related is the paragraph related to the "exchange" part on goybase and such
To quote :
>A platform that operates as an “exchange” as defined under Section 3(a)(1) of the Exchange Act and Rule 3b-16(a) thereunder must register as a national securities exchange or operate pursuant to an exemption
This is actually something amazing as this not only builds the frame for the legal infrastructure of what a crypto "exchange" is, but it also paves for all those shitcoins ON these exchanges to be considered as either commodities, securities, or financial products like stocks.

[Anonymous No.29893531]

>>29893198
this
>BIT
nice

[PDFanon !!fRUEr1wCP5l No.29893734]

There are also 2 entire sections written around KYC/AML procedures but that's not really anything new, besides that it might screw over entities like binance US.

>Disclosure of conflicts of interest. As the staff has observed, broker-dealers may operate in multiple capacities, including as trading platforms or proprietary traders of Digital Asset Securities on their own and other platforms.
>Outside Business Activities. The staff has observed instances of registered representatives of broker-dealers offering services related to digital assets apart from their employer
The tether printer hates this, assuming they were printing illegally, but it works both ways as this will probably make it illegal for exchanges to run any sort of manipulation.

That's probably all there is to this article for now, but this entire work completely obliterates nearly all nocoiner arguments i've seen
>the SEC will just ban your crypto from being bought and sold
>the SEC will just close down the exchanges
>the SEC will JUST you up
nocoiners btfo'd

[Anonymous No.29893798]

>>29893127
i thought this was a FUD thread, schizo fuck

[PDFanon !!fRUEr1wCP5l No.29893953]

>>29893798
thinking regulation is FUD is the ultimate midwit take anon

[Anonymous No.29894528]

>>29893953
So for a ledger owner who holds tokens on his cold wallet and buys from normie exchanges this is all bullish news, sounds like.

[Anonymous No.29894575]

[Anonymous No.29894748]

>>29894528
it's the tradeoff that was inevitably going to happen anon
the wallets you use might have some regulations they need to start following, you might get taxed on some aspects of using the exchanges or holding custody of your coins, but the important thing is that this
>helps onboard investors into the field as it becomes just as safe as other commodities
>gets crypto more into the mainstream
regulation is the best case scenario if you want them to pumps our bags, the FED could declare they're adding btc to the reserves tomorrow and watch it go to a 100k overnight

[Anonymous No.29894862]

>>29894748
I see what you mean. Still if they tax unrealized gains or tax me just for holding thatll suck. Though it will keep poors out of crypto and maintain it as a white mans game. So i guess we take the good with the bad.

[Anonymous No.29895080]

the whole thing is bullish for crypto in the future.

[Anonymous No.29895417]

>>29893292
How do you think this is going to affect investment services like Celcius? Given how by-the-books Gemini's track-record is with US legal framework, their relationship with the accredited third-party borrowers and their transparent management and review system is probably taking all of this into account (and likely with prior knowledge of this development at that), but Celcius is likely rehypothecating user assets themselves in order to make up the vast majority of income needed to make interest payouts, and they're doing it in a fairly opaque manner (in fact they won't even admit to rehypothecation). There's also a question as to how this affects liquidity pool/borrow-lend smart contracts in DeFi, but I think they're actually seeking to legitimize these platforms with some of their wording, with concerns maybe regarding disclosure of security, ownership and money-laundering.

[Anonymous No.29895491]

>>29893127
Does the SEC realise it only controls burgerland, not the rest of the world?

[Anonymous No.29895498]

>>29893198
>free speech
>we have a fake demorat playing president and a nigger vp
you still believe in free speech? lel

[Anonymous No.29895612]

>>29895491
most businesses want americans as customers so they're going to bend the knee to SEC

[Anonymous No.29895669]

>>29893127
Don't care not american

[Anonymous No.29895687]

>>29893127
>CRYPTO IS a 100% NEVER GETTING BANNED NIGGERRRSS
Of course not nigger. The would have to shut down the Internet first

[Anonymous No.29895695]

>>29895612
No they'll just create a nerfed version of their service for US like Binance did. You know, like Steam China is nerfed to comply with chink regulations.

[Anonymous No.29896066]

Way way too much text, can you just give a tldr in 1 sentsnce (ie is chainlink going to moon or not)?

[Anonymous No.29896148]

Kikes always want to tax the goys in some way or another.

[Anonymous No.29896208]

>>29895417
Yeah in gemini's case it's obvious and well explained in their ToS on how their users are generating yield on their lent assets, but I don't really know much about celcius or other decentralized options that offer the same thing.
I'm still willing to bet they're not just going to be ignored, aave might be a smart contract,but the website interface is not, nearly all protocols have dapps likely hosted on centralized servers which might be the entry if they ever wanted to legally regulate these "decentralized" platforms..
I don't know really, like you said they likely won't ban their use, and desu I think it's still pretty early for the govt to step in concerning defi, it's way too early, already full of security risks and a niche within a niche.

[Anonymous No.29896593]

>>29895695
that still counts as bending the knee in my books

[Anonymous No.29896719]

>>29895498
*you

[Anonymous No.29897382]

>>29893127
This is bullish for UNN (union)