BREAKING: (IJCH) First the Philippines, Now Australia - Cryptocurrency to Be Treated As a Prominent Trading Market!

in cryptocurrency •  2 months ago

BREAKING: (IJCH) First the Philippines, Now Australia - Cryptocurrency to Be Treated As a Prominent Trading Market!

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IJCH - Inside JaiChai's Head (Meaning: My Warped, Personal Opinions and Musings)

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From the Author:

Salutations.

I am JaiChai.

And if I haven't had the pleasure of meeting you before, I'm delighted to make your acquaintance now.

Deja Vu?

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Two days ago I wrote this:

"BREAKING: (IJCH) Philippine SEC not messing with Crypto ETFs; instead, pushes forward towards regulating (legitimizing) Cryptocurrency Exchanges as Bona Fide Trading Platforms!"

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Article Link:

https://steemit.com/cryptocurrency/@jaichai/breaking-ijch-philippine-sec-not-messing-with-crypto-etfs-instead-pushes-forward-towards-regulating-legitimizing-cryptocurrency

The last line was:

With respect to all things crypto, I truly hope more countries follow the Philippine's lead...

Now, it's like "Deja Vu"...

BREAKING: Australia - Cryptocurrency to Be Treated As a Prominent Trading Market!

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In 2018 alone, fintech has brought in >$675 million into Australia.

Since the trend appears to be ramping up, the Australian Securities and Investments Commission (ASIC), has published a corporate plan for Australia's economic future.

Similar to the Philippine SEC, ASIC intends to regulate the over 15 cryptocurrency exchanges and treat the crypto trading space as a prominent market.

In other words, ASIC would treat the crypto trading market just like a securities market; creating a “regulated market infrastructure” applicable to crypto exchanges.

See:

"Australian Watchdog to Apply Market Rules to Crypto Exchanges"

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In its a corporate plan for 2018–2022, released Friday, the Australian Securities and Investments Commission (ASIC) outlined its areas of focus for the period. Top of that list is to continue "monitoring threats of harm from emerging products" such as ICOs and cryptocurrencies.

URL:

https://www.coindesk.com/australian-watchdog-to-apply-market-rules-to-crypto-exchanges/

"Australian Watchdog Will Monitor Crypto Exchanges, ICOs Under Market Rules"

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Australia’s primary securities regulator is focusing efforts to keep a close eye on the cryptocurrency sector, including ICOs, as part its corporate action plan for 2018-19.

Having stressed in April that it would keep an “open mind” to cryptocurrencies and initial coin offerings (ICOs) domestically, the Australian Securities and Investments Commission (ASIC) pinned harmful threats from the sector as its first “focus area” to be monitored in its corporate plan for 2018-2022.

URL:

https://www.ccn.com/australian-watchdog-will-monitor-crypto-exchanges-icos-under-market-rules/

By JaiChai

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Mighty Kind of You for stopping by.

Truly hope to see you again!

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About the Author

Believing that school was too boring, he dropped out of High School early; only to earn an AA, BS and MBA in less than 4 years much later in life – while working full-time as a Navy/Marine Corps Medic.

In spite of a fear of heights and deep water, he performed high altitude, free-fall parachute jumps and hazardous diving ops in deep, open ocean water.

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After 24 years of active duty, he retired in Asia.

Since then, he's been a full-time, single papa and actively pursuing his varied passions (Writing, Disruptive Technology, Computer Science and Cryptocurrency - plus more hobbies too boring or bizarre for most folk).

He lives on an island paradise with his teenage daughter, longtime girlfriend and three dogs.

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(More articles by JaiChai can be found on the Busy.org website. Use this link to visit Busy.org. Better yet, come join the Busy.org community!)


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"My mind was a terrible thing to waste..." - JaiChai

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I thought Australia legitimize cryptos long ago

Posted using Partiko Android

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@bsfmalaysia,

Australia, like many other countries, "tolerates" the crypto space; but heretofore, has no official regulatory mechanisms in place for the protection of consumers - a la SEC style oversight that's found in the legacy markets.

Consequently, there is no set of minimum standards for entry, "best practices" policies for current entities, recourse for scammed customers, or penalties for bad actors, and so on.

It's "caveat emptor" for those entering the cryptocurrency space.

Because of this, risk-averse neophyte investors with limited capital as well as institutional and accredited investors possessing very deep pockets, are shy to enter the cryptocurrency space; hence, retarding mass adoption.

But now, the sheer growth and predicted market cap of cryptos is forcing more and more countries to consider cryptocurrency markets as something bigger than "toy geek money for the outliers of society (aka anarchists, criminals, etc.).

Thank you for visiting and commenting.

Namaste, JaiChai

Thanks for sharing I wouldn't hear this new so soon without your post and it is good news.

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Thanks.

The biggest reason I put this stuff out is because I wished it was available to me when I first started out.

Namaste, JaiChai

That is great news, lets hope more follow suit

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Thanks for visiting and commenting.

Namaste, my friend.

JaiChai

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Most welcome

Great news, hopefully more players around the world adopt the same policies.

whoa this is great news!! love hearing it and wow, never noticed your sexay tatt before ...

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(Blushing a bit...)

Thanks.

Namaste, JaiChai

Thanks for your upvote

@jaichai nice… i really like your blog. Very useful informations. Thx.Please give advice for betterment of each other.
@sbanerjee0017 (Shyamal Banerjee[Age:62] Kolkata,INDIA)✍

wow! geat news. with this time that crypto is down, I am still buying a little.

your profile is impressive.

I am from Davao but living in Singapore

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I've heard from a lot of people that Davao is a great place.

Also, many years ago, my friends told me that the people of Davao were very friendly. They also said that they felt very safe.

Oh yeah, they also told me about Duterte riding around the city on his big motorcycle; his shiny, large calibre pistol clearly visible to the public. LOl!

Thank you for visiting, commenting and of course, you kind words.

May you and yours be well and love life today.

Namaste, JaiChai

We shall see... maybe Dogecoin

Posted using Partiko iOS

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I remember contributing to the Jamaican Bobsled Team...lol!

Thanks for visiting and commenting.

Namaste, JaiChai

We have interesting times ahead of us, that's for sure... and, for some reason, I believe all of my dead tokens will remain dead. Well, if I can't do anything else, I'll keep them as souvenirs. :-P

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"Dead Tokens"? Which ones?

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SALT, EXP, AMP, EBTC, ICN, ICX, AION, ARK, DCT, EDG, IOC, KMD, MTL, PAY, PTOY... the list is endless.

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Holy shit! To be honest, with the exception of AION, I've never heard of any of those!

How? Oh wait. I don't want to know...

Namaste, JaiChai

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Some of these were going to be "the best thing ever." :-P