Tomorrow's senate banking committee hearings

[gentlemand]

I've no idea whether this is standard practice, but you can read tomorrow's statements right now.

The CTFC hearing has been moved to Feb 14th.

https://www.banking.senate.gov/public/index.cfm/hearings?ID=D8EC44B1-F141-4778-A042-584E0F3B9D39

'Any proposed Federal regulation of virtual currency platforms should be carefully tailored to the risks posed by relevant trading activity and enhancing efforts to prosecute fraud and manipulation. Appropriate Federal oversight may include: data reporting, capital requirements, cyber security standards, measures to prevent fraud and price manipulation and anti-money laundering and “know your customer” protections. Overall, a rationalized federal framework may be more effective and efficient in ensuring the integrity of the underlying market'


'Through the years, technological innovations have improved our markets, including through increased competition, lower barriers to entry and decreased costs for market participants. Distributed ledger and other emerging technologies have the potential to further influence and improve the capital markets and the financial services industry. Businesses, especially smaller businesses without efficient access to traditional capital markets, can be aided by financial technology in raising capital to establish and finance their operations, thereby allowing them to be more competitive both domestically and globally. And these technological innovations can provide investors with new opportunities to offer support and capital to novel concepts and ideas.'



Overall it seems pretty level headed and expected to me. ICO shite will be the main subject of their wrath.

Is the idea making you cream your knickers or do you not really care either way?

[Biodom]

ICO shite will be the main subject of their wrath.

As if they don't approve some ETFs which are DESIGNED to literally steal money, like basically all futures based commodity ETFs.
This is the real shite, not some small ICO that most people don't buy anyway.

[gentlemand]

As if they don't approve some ETFs which are DESIGNED to literally steal money, like basically all futures based commodity ETFs.
This is the real shite, not some small ICO that most people don't buy anyway.

I think they're all as shit as each other really. At least it would be fun to see the weight of the law come down on some of the pricks out there peddling blatant junk. With the scale of things now there's no way they'll let it alone.

I assume it'll be like everything else and Americans once again will be shut out while they carry on milking people from abroad.

[buwaytress]

As if they don't approve some ETFs which are DESIGNED to literally steal money, like basically all futures based commodity ETFs.
This is the real shite, not some small ICO that most people don't buy anyway.

I think they're all as shit as each other really. At least it would be fun to see the weight of the law come down on some of the pricks out there peddling blatant junk. With the scale of things now there's no way they'll let it alone.

I assume it'll be like everything else and Americans once again will be shut out while they carry on milking people from abroad.

Agreed. I'm of course all for deregulation and Wild West if people know how to protect themselves, but people can't. And I know no amount of regulation can stop a fool from parting with his money, but I'd be much happier if the lot of shite ICOs and projects get cracked down on and exposed for the thinly-veiled scams they really are. People will blame all the external factors when/if/should the crypto market one day crash, but it'll be all these false ICOs spinning hype and valueless tokens that are the harmful elements. Good riddance I say.