I've been on biz a long time. I work for pic related. I never see anyone on here talk about crypto regulation... Why?!
The type of regulation that will hit in Q3 or Q4 will crush certain cryptos (XMR) and I think will have a big negative impact on almost everything in the space. Every US financial agency is working together to get Crypto under their control and it's at the top of their priorities. FINCEN is leading the way. I'm not really dropping inside info here anons, just google FINCEN Crypto and you can find several statements from top officials saying that huge crypto regulation is coming fast.
Half of biz should be discussing regulation and how to stop it or what to do about it right now. Are you all going to wait until they drop everything on us at once and then cry about it as the market plummets and it's too late? How will XMR and similar "private" cryptos survive? They have said they have to have complete transparency. They want to know who is sending and who is receiving. If that can't be provided, guess what? Ban. And if you didn't know, the US has power over all international financial transactions. Check out OFAC. Once it's banned in the US it's over. FINCEN will be doing this under the guise of muh terrorism and drugs, but it's about controlling crypto and making sure they get their cut. You all act like these agencies who are built for this are a bunch of idiots who don't know what they are doing. I promise you they do. They've spent hundreds of millions of dollars on BSA/AML. A fucking huge onramp to money laundering (Crypto) opens up and you think they don't know and care? They know they waited too long to do something and they are going to start shitting out regulations very soon.
Any big brains have ideas on what to do to stop this or is this going to be forgotten tomorrow and replaced with 100 more BSV, Nulink, Pink posts?
It can't be stopped. We'll just have to play the game or be broke
Gavin Martin
Was always inevitable. They won’t be able to control most blockchains and basically like prohibition will essentially be forcing those into illegal use cases. Maybe that’s preferable since it’s easy to track.
Then things like LINK will blow the fuck up because they have useful business ramifications and will benefit the economy and can easily be tracked.
Expect BTC to shit the bed and ETH to do well. Good luck.
James Bennett
What does this mean for LINK?
Brody Johnson
What do you think will happen to tether?
Jordan Parker
Bullish
Tyler Peterson
>calls bsv shit >only regulation friendly coin keep bagholding, imagine trying to get people to discuss regulation on biz to try and stop it
Ian Thompson
Get back to the nulink containment threads faggot.
Yeah... ok.
I think if you get the right people to campaign against certain regulations/bans then it could be stopped. Somebody like Rand Paul could lead the charge and stop these faggots.
I agree it's like prohibition, people will continue to do illegal things, but it will kill the market. Agree on Link too, but I don't want to see Crypto die.
See above. Might crash with the entire market, but will be the first to rise from the ashes.
Nothing.
Matthew Cooper
The writing has been on the wall for a long time but all these "cypherpunks" choose to ignore it. Brave/BAT has received a ton of shit for enforcing KYC/AML regulations and it still hasn't let up. After bottlepay.li shut down and tryloli started sneaking KYC/AML procedures into their app is when people should have taken a pause for concern. Also forgot to mention all of the major exchanges now requiring KYC and enforcing the FATF crypto travel rule.
Its going to be an absolute nightmare for all of these crypto companies to bake new compliance into their apps and companies and find a reputable service provider. The thing that stunted Brave/BAT is going to strike a heavy blow to most of crypto.
Connor Reed
Pretty sure link is working with KYC/AML providers.
Elijah Ross
>banning a crypto We have decentralized exchanges in the works. Nobody gives a fuck what you ban.
Samuel Ramirez
What do you think of Coinmetro op?
Colton Turner
We warned you all about incoming regulations for years now. Sign up to CoinMetro and buy XCM. You can either listen to me, or cry later. I have nothing further to add.
Brody Morgan
good timing
Asher Phillips
It's as if csw and nchain saw this miles away, and made sure bsv is constantly advertised as regulation friendly. This shit is hilarious
Justin King
What the fuck is up with these shills. BSV went from 85-450 and he talks like it’s tron or something. Also NULINK is everything chainlink claims chainlink is. Chainlink isn’t decentralized it takes KYC verification. NULINK is the decentralized oracle hype that all the stinkers have been shitting out their mouth for the last 2 years.
Nathan Murphy
Might be a good time to cash out into physical gold and silver.
How do you see this affecting LINK and Tezos? Probably not much at all right? Potentially bullish for them since we’d weed out privacy shit?
James James
Yeah user, probably a drop when regulations hit and market panics, but no way it hurts Link long term and could possibly be huge since everyone will consolidate to useful projects that the regs dont effect.
Wyatt Russell
What does this mean for Mixicles and the like then? Will that be an illegal part of chainlink?
Lucas Bailey
I've always been waiting on regulations to come through. It's part of the game.
They call using privacy coins "Bitcoin mixing" now. That gayass name should terrify you fuckers. They're coming for it.
Aaron Young
the gubment can't ban p2p trading or decentralized exchanges and they will grow exponentially when this shit starts.
Joshua Lewis
Yeah, that's a hard one. Definitely a question I hope someone asks the team at one of the conferences.
Ian Roberts
bullish for WAZIR sultanbros
Evan Foster
See, I see that said anytime regulation is mentioned.
>the gubment can't ban p2p trading or decentralized exchanges
Dumb. The US will 100% ban both before EOY.
Now if you are saying that they can't enforce the ban... debatable.
Are you willing to risk imprisonment and forfeiture of all your funds? What are you going to do with your illegal crypto? No legitimate business can/will accept it. In this fantasy world where a ban is a good thing, does everyone magically start using an illegal form of currency so it doesn't matter... What even the fuck are you thinking... You know what, nevermind, just hold on to whatever you have, I'm sure a ban will send it to the moon...
Ryder Harris
ok boomer
Robert Hill
bro they're not banning crypto lol, you think the US govt is gonna allow themselves to be the only nation that cucks themself out of crypto?
Landon Morgan
This is why I bought physical silver :)
Alexander Morgan
Damn dude. Did I say they are fucking banning Crypto?!... Read what I posted. They will ban private cryptocurrencies, p2p, decentralized exchanges, basically anything where they won't be able to track every transaction and every person involved in every transaction.
Also, learn what the fuck OFAC is if you think the US banning doesn't matter anywhere else...
Connor Morgan
Crypto wont be banned if its regulated. This shit is unironically bullish as fuck.
Extreme regulations would stifle growth in your own country and you would lag behind.
Calm down ffs
Oliver Sanders
this. you can't prove who is behind any address. even without mixers. if you send bitcoin to 10 randomly created address how the fuck can you know there not in the hands of someone else now? don't fall for this larping faggot.
Owen Cook
>Larping
Why and what the fuck would I be larping for you retard? You can google pretty much everything I'm saying.
>if you send bitcoin to 10 randomly created address how the fuck can you know there not in the hands of someone else now?
They already keep track of everything on the blockchain... what the fuck are you even saying anyways? You think sending Bitcoin to 10 different addresses is going to make them give up or trick them? lmao...
Aiden Stewart
Meanwhile, your rulers nominate a guy caught red handed, stealing a minimum of 50 grand a month. The pencil pushers that work at these agencies deserve a fate.
Owen Cruz
you're retarded. think about a dollar bill in the wild. let's say they know how to track that bill at every exchange on a computer screen. after about a year that dollar bill has be exchanged between 100 different people. now who owns that bill?
Camden Sullivan
If they can track that bill at every exchange, then why wouldn't they know who owns it after exchanging it between 100 different people?
Cooper Turner
Agreed.
So you're assuming this fantasy world where people actually start using Bitcoin to buy things between each other 100's of times a year? Yeah dude, I guess in that scenario they will have trouble tracking who currently owns the Bitcoin.
But in current real life, people are either buying into Bitcoin and holding or cashing back out into cash. At the entry point and exit point they will know who is involved because of KYC/KYT etc...
Joseph Baker
can't ban p2p trading. they'd have to make using the coin itself illegal, which isn't going to happen.
Tyler Flores
they don't know jack shit. all they know is how to print fake money and steal from people.
Bentley Cooper
I'm just as confident they will. Any reason you think they aren't going to? You think they are going to leave this giant hole open for money laundering when there are half a dozen government agencies dedicated to BSA/AML?
Hudson Thomas
because they aren't that retarded. banning use of a cryptocurrency would be an absolute disaster for the gubment in every way. they aren't going to do anything more than making it incredibly difficult for centralized exchanges to list it.
Michael Jenkins
I'm just as angry about it as you user, but they know what's going on. Federal agencies are dedicated to stopping anything they can't track and keeping crypto under control and the same regulations as US currency.
Just do some research on FINCEN, educate yourself, and be prepared for what is coming.
Argentina/Zimbabwe trying to outright ban all Crypto does not equal the US banning privacy coins and throwing down big regulation on the rest.
Agree to disagree, I have to go to bed. Good luck.
Carter Roberts
R u retarded? Mixicles was made by ari Jules to satisfy the irs regulations
Colton Baker
Crypto can be traded without going through a financial institution. There's no effective way for governments to enforce their regulations. Also a ban on crypto would increase the price of crypto. Supply and demand.
Landon Taylor
You are retarded though. Remember this thread when FINCEN drops a bomb on your head in 6 months!
Austin Perez
Ummm. the supply would go way up as people panic sell and offload their now illegal crypto and demand.. 0.
Jose Wright
No supply goes down after a ban. Look at drugs.
Isaac Mitchell
Can't tell if you're joking. Buy mobius. I'm out.
Jeremiah Lewis
I'm not joking. Illegal things cost more.
Nathan Bell
It’s FinCEN not FINCEN you plebbitor fear mongerer. If you didn’t trade on secret binance accounts you good, otherwise you fucked.
Landon Roberts
With the difference that drugs have a irl use case, illegal crypto not. I would enjoy a ban of all privacy, staking and 3world shitcoins
