The G20 Summit took place in Argentina this week and Japan was a major contributor to the discussion on crypto regulation going forward. The thought is that world finance leaders are looking to have more information on universal regulation in July 2018. So, this could impact the market moving forward. Great post! Thanks so much for sharing!
Ivy
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Thanks for the heads up. Some coordinated efforts will be needed for sure.
@jrcornel The thing is this is a news to further drive through the FUD factor among the ingnoramuses and weak. Maybe the greedy also. That is all i see.
Actually, I took the news as rather positive because it seems that world financial leaders will try to be fair to the crypto community. The immediate response following the summit was a market upswing so I am assuming that the overemotional marketplace took the news well.
I did as well. It was one of those things where the news wasn't nearly as bad as it could have been, which was good enough for a fairly significant relief rally.
Exactly! Some of the news that comes out in the crypto space is awful and we have a terrible dive from it so this news about the summit was decent so we don't have much to worry about yet. Will have to observe as time goes on and see what news comes from the committee regarding universal regulation.
Ivy
If you read up on it it seems that they are trying to learn more about crypto before making any decisions because they know that they don't fully understand the scope of the situation. The chairman of the group stated that he doesn't plan on adding new regulation if it can be avoided, rather make tweaks to what exists currently. I am hopeful that they will stick to what they said they will do and treat crypto investors fairly.
Yes that is my hope as well. There are so many investors in the space now, they have a responsibility to harm the least amount of people as possible with new rules/laws. We have numbers on our side at this point.
I hope that they will view it that way. Hopefully they will not want the masses to rise up against them in the event they make unpopular decisions and will rule in our favor. It seemed like the committee of the summit just wants to try to limit criminal activity and funding of terrorist organizations since crypto can be somewhat untraceable if you transfer it to others.
Ivy