New Bittrex Listings a Positive Sign for Crypto? CFTC Mulling Federal Regs instead of State Regs

in cryptocurrency •  4 months ago

Bittrex has added a new cryptoasset to their exchange for the 3rd day in a row, and I think that's a VERY positive sign. Let's talk about why I think it matters, as well as why CFTC Chairman Chris Giancarlo's thoughts about federal regulation instead of individual state regulation is better for innovation in my mind.

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Tweet from @CryptoBully on Bittrex exchange listings:
https://twitter.com/CryptoBully/status/964501474238660609

Coindesk article on CFTC Chairman Giancarlo and federal regulations:
https://www.coindesk.com/cftc-chair-us-tread-carefully-crypto-exchange-rules/

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I'm still waiting for Bittrex to add Vechain. I can't believe they are still dragging their feet on that coin.

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They haven't really added many coins at all recently, so not suprised about VeChain.. Howevvaaa I have a fat bag of VeChain so I'd love to see them add it

Right in Bobby! Didn't know you were in NYC. Based "on" Long Island myself. Been watching you for months on YouTube. Very cool to find ya here on steemit too!

Love you content although I'm working a 12 step and don't partake in the booze anymore. Great to see you being authentic and HODL'n as you do! KBO

Coins mentioned in post:

CoinPrice (USD)📈 24h📈 7d
BTCBitcoin10136.200$1.41%19.36%
ETHEthereum941.452$0.36%10.28%
LTCLitecoin233.010$5.36%51.07%
XRBNano9.781$14.9%-15.05%

postingan sangat bermanfaat

Dude, Bobby .. we do NOT want federal regs! What are you smokin?????

I think the states have too much of a vested interest in regulation to let federal agencies decide. Since most financial services are done a on state by state basis, I doubt this will differ although federal guidelines will probably guide the process to govern their AML/KYC framework.

Regarding Tether - I'm wondering why everyone seems to judge Tether based on whether each Tether in circulation is backed by an actual dollar. The US dollar value of any cryptocurrency is based on its circulating supply and the demand for the token, no?

With this in mind, does Tether not adjust its total supply based on the demand for Tether in order to keep the price of Tether at 1 USD - in effect tracking the US dollar?

How does being backed by physical US dollars affect this in any way? Even if people started massively selling off Tether, couldn't Tether developers "burn" excess supply to make it more scarce and keep the value at $1 regardless?

Being that you have discussed this issue in the past, I was curious to know your response to this. I welcome any other readers thoughts as well. Thanks.