As the technology continues to advance, these differences will be very important to establish and implement if projects want to create ICO backed projects once again. Many out there today are probably securities which is probably why demand has dried down so much. Particularly because only accredited investors can participate in these security offering. I think this is bad as well as the ability of someone to participate should not solely be dependent on the person financial status but should also include knowledge and suitability standards.
Very true. For better and for worse, the US president has been installing new SEC members who are pro-crypto (which he has large holdings of). And in the last couple months that agency has already been warming to crypto, including the quote I shared above. A new pro-crypto commissioner just joined last week. One of the current pro-crypto members I heard interviewed and she explicitly said she believes they shouldn't be keeping the everyday investor out of the gains possible with ICOs.
So we're at this weird cross roads. We'll see which ways things turn.
I just found out you have a YouTube channel......lol. I was reading the post you resteemed by clixmoney and saw the link and went there.
I listened to most of the video but I gotta go to bed for work in the morning so I'll have to finish tomorrow, but I will be checking out all materials by you. I really appreciate how well you explain things with such simplicity. Well goodnight my good friend for my day starts at 3:30am everyday so off to bed I go.
Oh yeah plus we are gearing up for a hurricane, but don't worry my wife and I got our necessities together including some joy juice.......lol!!!!!
Seriously, the massive adoption of blockchain and cryptocurrency around the globe is now becoming a threat to the normal economy status quo. It is really breaking apart the Wall Street and they want some shares in the tokens.
I was on WhatsApp earlier yesterday, and a friend of mine sent a text stating that the government of my country wants to tax cryptopreneurs. (Crypto earners). We need to be vigilant henceforth.
It is already the case here that we are taxed on crypto earnings. Actually it is worse than you might think, because we are taxed on profits we haven't even realized because we are still holding the proceeds as crypto, which can't be paid to the government for taxes!
Hopefully your country won't make such a crazy rule. But be aware that financial markets are global, whereas taxation is national. The US has put no noticeable pressure on other governments to adapt our tax policy. We will blacklist a country, however, if they don't play ball with our financial laws. So what our SEC decides is likely just a matter of time before spreading.
This is really unbelievable, isn't that such a cruel attitude. To even tax you on what you haven't earned? Crypto earners, investors and miners over there are really coping with a lot of things.
STEEM never had an ICO so it doesn't have security worries. In some countries there may be tax implications for earning it that people are ignoring. I think that's the only real risk with it, and a completely avoidable one.
To listen to the audio version of this article click on the play image.
Brought to you by @tts. If you find it useful please consider upvoting this reply.
As the technology continues to advance, these differences will be very important to establish and implement if projects want to create ICO backed projects once again. Many out there today are probably securities which is probably why demand has dried down so much. Particularly because only accredited investors can participate in these security offering. I think this is bad as well as the ability of someone to participate should not solely be dependent on the person financial status but should also include knowledge and suitability standards.
Very true. For better and for worse, the US president has been installing new SEC members who are pro-crypto (which he has large holdings of). And in the last couple months that agency has already been warming to crypto, including the quote I shared above. A new pro-crypto commissioner just joined last week. One of the current pro-crypto members I heard interviewed and she explicitly said she believes they shouldn't be keeping the everyday investor out of the gains possible with ICOs.
So we're at this weird cross roads. We'll see which ways things turn.
I just found out you have a YouTube channel......lol. I was reading the post you resteemed by clixmoney and saw the link and went there.
I listened to most of the video but I gotta go to bed for work in the morning so I'll have to finish tomorrow, but I will be checking out all materials by you. I really appreciate how well you explain things with such simplicity. Well goodnight my good friend for my day starts at 3:30am everyday so off to bed I go.
Oh yeah plus we are gearing up for a hurricane, but don't worry my wife and I got our necessities together including some joy juice.......lol!!!!!
LOL!
Seriously, the massive adoption of blockchain and cryptocurrency around the globe is now becoming a threat to the normal economy status quo. It is really breaking apart the Wall Street and they want some shares in the tokens.
I was on WhatsApp earlier yesterday, and a friend of mine sent a text stating that the government of my country wants to tax cryptopreneurs. (Crypto earners). We need to be vigilant henceforth.
It is already the case here that we are taxed on crypto earnings. Actually it is worse than you might think, because we are taxed on profits we haven't even realized because we are still holding the proceeds as crypto, which can't be paid to the government for taxes!
Hopefully your country won't make such a crazy rule. But be aware that financial markets are global, whereas taxation is national. The US has put no noticeable pressure on other governments to adapt our tax policy. We will blacklist a country, however, if they don't play ball with our financial laws. So what our SEC decides is likely just a matter of time before spreading.
This is really unbelievable, isn't that such a cruel attitude. To even tax you on what you haven't earned? Crypto earners, investors and miners over there are really coping with a lot of things.
Thank you for the information @indigoocean. For now it is only steem am hodling. So I hope it is save.
STEEM never had an ICO so it doesn't have security worries. In some countries there may be tax implications for earning it that people are ignoring. I think that's the only real risk with it, and a completely avoidable one.
Oh. OK, I c. Good.
To listen to the audio version of this article click on the play image.
Brought to you by @tts. If you find it useful please consider upvoting this reply.