It is actually good for all the cryptocurrency enthusiastic people because there are many here saying centralised marketplace is the best option to make the safety investment.
But the truth is not like that. Decentralized market is the actual power every laymen gets.
That's why even government cannot shake the value or market of decentralised cryptos.
Topic: is this because of libra ? - page 2. (Read 588 times)
No one would make such a big statement. I think it's all thanks to Libra and facebook. Mark Zuckerberg is a genius. It has created a huge buzz around its cryptocurrency. Also helped institutional investors on the similarity of PayPal, Visa and so on. If it weren't for such big names, the regulators would continue to hibernate. I believe that this is very good and there is a great cryptocurrency future ahead of us. And Yes Libra has every chance to become the largest stablecoin!
Cryptocurrency has been existing for a very long time now, and now becoming much more popular, and as it is growing in popularity, the governments are meant to come up with any decision concerning it at any time, so this decision may actually not be because of Libra coin exactly, it could have been for so many reason.
There are so many stable coins, and Facebook has never revealed if their coin will be a stable coin, we have been the one exaggerating that Facebook coin will be in form of a stable coin, there was a point where Facebook also made a claim that their coin will operate same way as bitcoin and be able to yield profit for those that invested in it, so this decision may and may not be because of Libra but because of the general blockchain technology.
There are so many stable coins, and Facebook has never revealed if their coin will be a stable coin, we have been the one exaggerating that Facebook coin will be in form of a stable coin, there was a point where Facebook also made a claim that their coin will operate same way as bitcoin and be able to yield profit for those that invested in it, so this decision may and may not be because of Libra but because of the general blockchain technology.
There is no specification and indication which is then responsible to this, whatever the case is this initiative would bring a good result to this platform, It could be the reason or Libra coin, or maybe not, I think with this type of step makes the investors comfortable and safe because of the stable coin attraction, of course it's a good thing for both investors and entrepreneurs, if there will be a set of proper regulation then people will come to this platform easily because scam and fake project will not be allowed and the sustainable development of this platform will be ensured, I this is very useful to this platform for the future purpose. I also hope that Libra will bring a lot of positive impact in the future.
The reason is just not Libra but it's all because of the scam projects happening for over several years now in the crypto space. All that happened already tarnished our image and the government/SEC already placed a bulls-eye on top of our heads, especially the big projects like Libra. And we as a community can't be blamed to somehow trust them, John mcafee endorsed a scam project last year and the team is already facing court charges because of what happened.
We need to do our due diligence of researching the project and not get driven by pure emotions because of news/sentiments going on. Especially if you're already in the space for so very long.
We need to do our due diligence of researching the project and not get driven by pure emotions because of news/sentiments going on. Especially if you're already in the space for so very long.
It's not about Libra, Libra maybe affected on this news but they really intend to look and regulate cryptocurrencies and stablecoins as well blockchains, since hey see possible ways that scammers and their government will be affected by this event if ever happens. More governments are planning to do this to monitor atleast stable coins that are backed or operated by an institution or organizations.
The government must be not accepting cryptocurrency because if cryptocurrency growing so fast the banks will be bankrupt i'm sure because no one will deposit their money to banks.
So, if any large company want to develop cryptocurrency the government will prevent them. This is my analysis
Possibly and I think they are seeing that stable coin involves big money also, so if they will restrict Libra from operating, that's being unfair since Libra is classified as a stable coin. Either they are planning on banning stable coin which is good for crypto since it's really the purpose of crypto to be volatile with fix supply and decentralized, I don't know but one thing in my mind now that tells me Libra will soon be in the market as they cannot ban all stable coins therefore allowing Libra but with strict regulation on general stable coins market.
Yes, sooner or later, Libra will gonna be in the market. We are only waiting for the time to hit them in the market. I don't think Zuckerberg will give up that easily. If other companies can create their own stable coin, why not him? He has all the resources that he can use to make this happen. The government is too strict with him because of his status in the industry.
We will eventually knew it by next year because it was scheduled to be launch in 2020.
if this launch will be successful, it might help to boost the market as next year also is a schedule of bitcoin halving which we usually see some significant increase based on the past trends.
yeah i guess so because libra is not an unknown coin, i mean he was backed up by facebook one of the social media giants facebook, and also libra has formed many collaborations with others.
of course it is a threat to fiat, because the libra that comes out later is stable coins with the same value as USD.
if the arrival of libra later exceeds people's enthusiasm for crypto, the government has prepared efforts to carry out these regulations, whether it will cause conflict or not, we'll see.
of course it is a threat to fiat, because the libra that comes out later is stable coins with the same value as USD.
if the arrival of libra later exceeds people's enthusiasm for crypto, the government has prepared efforts to carry out these regulations, whether it will cause conflict or not, we'll see.
The Federal Council states that, while the mountainous Central European country is generally seen as very crypto-friendly and “open to innovative approaches in the financial market,” it remains committed to addressing the risks related to stablecoins and cryptocurrencies...
Is this because of Libra?
I would opine that Libra has been a big concern for many countries including those which are regarded as very friendly and open to innovations of Bitcoin and cryptocurrency. However, in fairness, we should not lay all the blames to Libra as there are many stablecoins operating in the market right now and there are always related concerns when we talk about cryptocurrencies. As a disruption force to banking, finance and economy, it is the duty of any country to always monitor things happening and developments that can possibly affect the pillars of one's economy so they can react and manage things effectively and timely.
We know that Libra Association had chosen to be headquartered in Geneva, Switzerland but this does not mean that the Swiss government will be complacent in its monitoring and watchman job. The government is always looking at things including the Libra project. This interview with Mark Branson the director of the Financial Market Authority (FINMA) can give us some glimpse on how the country is looking at Libra and the possible risks (as well as opportunities) that it is posing to its economy and other traditional systems.
It's not about Libra, Libra maybe affected on this news but they really intend to look and regulate cryptocurrencies and stablecoins as well blockchains, since hey see possible ways that scammers and their government will be affected by this event if ever happens. More governments are planning to do this to monitor atleast stable coins that are backed or operated by an institution or organizations.
This is not because of Libra or some other coins, they just want to make sure that no company will go against the rules. If they won't make a move about it, the other company will just ignore their warnings and continue to unfollow the rules and regulations. The continues monitoring of the Stablecoins and some other crypto-related things are just part of their jobs.
I think its just a reminder, stablecoins are been around for years. Maybe due to the growing numbers of companies offering stablecoins made regulators keep an eye on them because it can also be use to attract and deceit investors. Its good for the ecosystem, we need a government approach lik this to protect us.
Maybe somehow. I think not just because of Libra, but also other big projects that concern some risk in the legalization or better improvement of this industry.
Of course European country will be alarm by how Libra is planning to launch a world wide phenomenon project which is based on US. You know how facebook is scrutinized due to its privacy issue right. Many people think especially in the cryptocoomunity that Libra could somehow attempt to do what happened on Facebook.
Of course European country will be alarm by how Libra is planning to launch a world wide phenomenon project which is based on US. You know how facebook is scrutinized due to its privacy issue right. Many people think especially in the cryptocoomunity that Libra could somehow attempt to do what happened on Facebook.
Yes, sooner or later, Libra will gonna be in the market. We are only waiting for the time to hit them in the market. I don't think Zuckerberg will give up that easily. If other companies can create their own stable coin, why not him? He has all the resources that he can use to make this happen. The government is too strict with him because of his status in the industry.
I really dont think it will happen soon since some of their backers dropped their support besides US and other countries regulators are putting on the pressure to Libra. Crypto exchangers wouldn't list libra because they may also get sanctioned and get investigated for getting involved with Libra.
Possibly and I think they are seeing that stable coin involves big money also, so if they will restrict Libra from operating, that's being unfair since Libra is classified as a stable coin. Either they are planning on banning stable coin which is good for crypto since it's really the purpose of crypto to be volatile with fix supply and decentralized, I don't know but one thing in my mind now that tells me Libra will soon be in the market as they cannot ban all stable coins therefore allowing Libra but with strict regulation on general stable coins market.
Yes, sooner or later, Libra will gonna be in the market. We are only waiting for the time to hit them in the market. I don't think Zuckerberg will give up that easily. If other companies can create their own stable coin, why not him? He has all the resources that he can use to make this happen. The government is too strict with him because of his status in the industry.
It may add to the factor but take into account that several companies and banks are starting to make their own digital fiat.
https://www.coindesk.com/ibm-signs-6-banks-to-issue-stablecoins-and-use-stellars-xlm-cryptocurrency because I really think the government in each country is afraid that the fiat will lose its leverage to other countries. Even the anti-crypto U.S. congressman Sherman said so.
https://www.coindesk.com/ibm-signs-6-banks-to-issue-stablecoins-and-use-stellars-xlm-cryptocurrency because I really think the government in each country is afraid that the fiat will lose its leverage to other countries. Even the anti-crypto U.S. congressman Sherman said so.
Possibly and I think they are seeing that stable coin involves big money also, so if they will restrict Libra from operating, that's being unfair since Libra is classified as a stable coin. Either they are planning on banning stable coin which is good for crypto since it's really the purpose of crypto to be volatile with fix supply and decentralized, I don't know but one thing in my mind now that tells me Libra will soon be in the market as they cannot ban all stable coins therefore allowing Libra but with strict regulation on general stable coins market.
Swiss Federal Council Continues to Monitor Stablecoins and Blockchain
The Federal Council states that, while the mountainous Central European country is generally seen as very crypto-friendly and “open to innovative approaches in the financial market,” it remains committed to addressing the risks related to stablecoins and cryptocurrencies, saying:
“The Federal Council is committed to ensuring that the currency and stability policy challenges, in particular, are addressed through international cooperation between governments, central banks and supervisory authorities, with private providers also included.”
https://cointelegraph.com/news/swiss-federal-council-continues-to-monitor-stablecoins-and-blockchain
is this because of libra ?
The Federal Council states that, while the mountainous Central European country is generally seen as very crypto-friendly and “open to innovative approaches in the financial market,” it remains committed to addressing the risks related to stablecoins and cryptocurrencies, saying:
“The Federal Council is committed to ensuring that the currency and stability policy challenges, in particular, are addressed through international cooperation between governments, central banks and supervisory authorities, with private providers also included.”
https://cointelegraph.com/news/swiss-federal-council-continues-to-monitor-stablecoins-and-blockchain
is this because of libra ?
There is a possibility that the action of The Federal Council has been triggered by Libra but I guess there are still big happening behind it.
Especially that this move has been cooperated by goverments,banks and authorities so it must be triggered by something big as Libra is still in the process of launching.
Most countries have been actively monitoring the impact of cryptocurrencies for some time now, it's not like governments have only just woken up to the fact that a parallel economy is developing alongside the fiat one.
However, so long as the technology doesn't overstep its bounds, and start outright looking to usurp the old way of doing things, I don't think we'll have much trouble with regulators for at least a few years.
Libra definitely could change that if it grows to threaten monetary policy, but that's still some ways off yet.
However, so long as the technology doesn't overstep its bounds, and start outright looking to usurp the old way of doing things, I don't think we'll have much trouble with regulators for at least a few years.
Libra definitely could change that if it grows to threaten monetary policy, but that's still some ways off yet.
Yes it is, but not at all.
You must read the additional note that has already created by a member of seven council too.
Just because swiss is a friendly crypto country and it doesn't mean if it will be allowing all of the actions by crypto without doing a monitor to the stablecoins and blockchain.
This action just like to give a protection to its investors that already joined in the crypto.
Stable coin needs to be monitored consider it can be manipulated because it has been controlling by a centralized party. The manipulation that happened in tether is more than enough to prove if we have a big question about the credibility of the company that created stable coin.
You must read the additional note that has already created by a member of seven council too.
Just because swiss is a friendly crypto country and it doesn't mean if it will be allowing all of the actions by crypto without doing a monitor to the stablecoins and blockchain.
This action just like to give a protection to its investors that already joined in the crypto.
Stable coin needs to be monitored consider it can be manipulated because it has been controlling by a centralized party. The manipulation that happened in tether is more than enough to prove if we have a big question about the credibility of the company that created stable coin.
thanks, for your respond
maybe libra is not only the causes, but the fact libra is the main causes, right ?
personally i agree with you if a stable coins must be monitored, also all cryptocurrency with centralized system too my friend
Jump to: