How sure can we be that MCO will get Visa approval? Does MCO have a business model if it doesn't? This seems like a huge risk to take if there is only a binary outcome.
Approve = $50+ or Disapprove = $0 ?
Could there be regional approvals? Some areas getting approved, some not?
Approve = $50+ or Disapprove = $0 ?
Could there be regional approvals? Some areas getting approved, some not?
From what i have rea / heard MCO is going for Visa program manager which means they can issue cards. For eg Ten x pay is not a visa program manager they piggy back off anothere supplier. This is why it has taken longer than expected for MCO to get the visa approval.
Im currenty 90% confident Mco willAnnounce Visa this month. If they do not succesfully become program managers then they will either take ther route of another supplier like tenx has or maybe look at Master card?
Obviously all of the above is my opinion based on what i have read / heard
ZeroHedge is reporting that because of this recent ICO crackdown, all ICO funds raised in China must be returned to investors. Since the team is located in Hong Kong, wouldn't that make this a regulatory impossibility for Visa approval now? Monaco may not even be able to continue. The link to the PBOC is dead on ZeroHedge, but they are usually pretty reliable with their sources.
http://www.zerohedge.com/news/2017-09-04/ethereum-bitcoin-crash-after-china-declares-initial-coin-offerings-illegal
Here's the source:
http://www.pbc.gov.cn/goutongjiaoliu/113456/113469/3374222/index.html
via GoogleTranslate
Quote
The tokens or "virtual currency" used in coinage financing are not issued by the monetary authorities, do not have legal and monetary properties such as indemnity and coercion, do not have legal status equivalent to money, and can not and should not be circulated as a currency in the market use.
Quote
As of the date of this announcement, all types of currency issuance financing activities shall cease immediately. The organizations and individuals who have completed the financing of the tokens should make arrangements for repatriation and so on, reasonably protect the interests of investors and properly handle the risks.
It doesn't get any more clear than that. Monaco is headquartered in Hong Kong, China. There does not appear to be any exemption. They can not continue to operate and must shutdown.
Sorry guys, I really wanted to buy this coin. This regulatory crackdown has done it for me and I doubt Visa or any other card company will approve it now. Good luck, with this market, a lot of people are going to lose a lot of money.
What proof do u have to say that all the fund collected during ICO is frm China ?
And plus only 25M is collected during ICO
But now it is worth USD120M
So, how does loss of USD25M will shutdown the entire project nor cause massive losses to the investors ?
