is this because of libra ? - page 3.

Kang TB

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Quote from: shinratensei_ on October 16, 2019, 06:01:40 PM

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.

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

jaocoincrypto18

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I dont think that Libra cause this because Libra is not a stable coin in which it has to probe yet their performance in the market before it will consider a stable coin. The latest council development is because it is their job to protect their crypto users all the time to ensure that their hard earned money will not be wasted therefore the latest release is just a normal thing and it has nothing to do personally with any crypto.

Vitamin_52

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Hardly because libra is done this system. Of course it is good that someone will begin to control at least some of the currencies. Perhaps after that, other countries will also connect.

DaMut

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Quote from: Bitfling on October 16, 2019, 08:05:59 PM

I don't think it's just about Libra. This is about stable coins so that there is a proper audit and this is certainly to protect the interests of investors to be safer. The increasing number of stable coins in the market without proper audits can make the cryptocurrency market buble and I think this is good so that buble can be prevented

That is true this is not about Libra but all of this started after Libra face a regulation backlash from the government and making a domino effect to the others. As you stated the main point here is stablecoin itself because it brings potential financial risk to the country if it is allowed and regulated.
from the article above it seems like they are going to create a new rule regarding stablecoin but will remain the same for other cryptocurrencies.

NeuroticFish

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The timing may be caused by Libra. They were watching crypto currencies (especially Bitcoin) already, but the financial power and tight schedule behind Libra made them hurry with their homework (in regulating crypto). This is the main thing Libra has done until now (good or bad) : wake up the regulators.

The last part of that article is interesting. Although it contains the word Libra in it, it also tells about open-source blockchain. So it's going to be for Libra, but not necessarily only for Libra.

CjMapope

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Quote from: Kang TB on October 16, 2019, 04:42:48 PM

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 ?

damn it could be!
that actually kinda seems like a good thing, its been way too easy for anyone to make a coin and sell it
and in 2019 specifically, COMPANIES have been jumping in on the craze
Libra was the nail in the coffin, but i think telegram selling billions$ in evaluation itself started the gov seeing this as out of hand

Bitfling

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Quote from: Kang TB on October 16, 2019, 04:42:48 PM

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 ?

I don't think it's just about Libra. This is about stable coins so that there is a proper audit and this is certainly to protect the interests of investors to be safer. The increasing number of stable coins in the market without proper audits can make the cryptocurrency market buble and I think this is good so that buble can be prevented

coin-investor

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I don't think it has something to do with Libracoin, stable coin and Cryptocurrency is already here when planned on Libra coin hasn't been revealed, it's past circumstances coming from scam coins and the nature of stable coin and cryptocurrency that motivate this council to come out with that statement, it is good for the community that they come out such a strong statement, we are all committed to making the Cryptocurrency a safe environment for investors and users.

shinratensei_

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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.

Kang TB

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Revolutionizing Reward Points

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 ?

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