EddieJayonCrypto
16 Nov 22
• CFTC Chair Rostin Behnam told Congress they must act now to create a regulatory framework• You can now leverage Apple Pay for your project if it is built on Circle's platform• The Federal Reserve Bank of New York has rolled out a 12-week CBDC pilot project - Wells Fargo, HSBC, Citi, BNY Mellon and...
• CFTC Chair Rostin Behnam told Congress they must act now to create a regulatory framework• You can now leverage Apple Pay for your project if it is built on Circle's platform• The Federal Reserve Bank of New York has rolled out a 12-week CBDC pilot project - Wells Fargo, HSBC, Citi, BNY Mellon and Mastercard• Polygon lands SWOOSH, Nike's new digital community• Shocker: Justin Sun takes over Huobi Global…NOT!Let's get back to what can directly affect our value potential going forward. Here is what is on my mind today.1. CFTC Chair Rostin Behnam told Congress they must act now to create a regulatory framework. More importantly, he has been and is continuing to advocate for greater authority over the space. Given the bad optics Gary Gensler has created for himself and the SEC, I think the chances are greater this can happen. Even he says the vast majority of coins are securities given their incentivization structure. He also says there needs to be international coordination between the regulators. 2. If you are developing on Circle's platform, you can now leverage Apple Pay for your project. That is really good news. People think that I am against credit cards. I am not. I think they have a place in the future. I just think people should take more financial control and move back to living with cash (and crypto). 3. The Federal Reserve Bank of New York has rolled out a 12-week pilot project to test the viability of a CBDC with the help such financial institutions as Wells Fargo, HSBC, Citi, BNY Mellon and Mastercard. The big news is the project also involved Singapore's central bank. The digital money platform is known as the regulated liability network (RLN). People seem to think this is a blow against the use of crypto and it makes me giggle. It is really a blow against the SWIFT network which is comprised of over 11K financial institutions around the world. Stopping crypto is not a realistic option for governments around the world. It would be like swinging for a pitch the catcher has already caught. 4. Yet another notch on Polygon's belt as they are the infrastructure Nike chose to build its new digital community, SWOOSH, on. People should be giving real thought about all of the projects relying on Polygon's infrastructure. It requires reliability, speed and scalability. Polygon has it all. 5. It should be of no surprise that Justin Sun is taking over Huobi Global. He has been behind the scenes for a long time. All the way back on August 15th I mentioned Du Jun, then CEO of Huobi, was looking to unload about 60% of the exchange to Either Justin Sun or SBF. FTX never stood a chance since Justin had been advising Huobi.