EddieJayonCrypto
13 Sep 22
• Follow-up: Charles Schwab, Citadel Securities, Fidelity Digital Assets℠, Paradigm, Sequoia Capital and Virtu Financial launch crypto trading platform EDX Markets• Linux Foundation is tackling open-source digital wallets with the OpenWallet project wallet interoperability• US Treasury wants you to ...
• Follow-up: Charles Schwab, Citadel Securities, Fidelity Digital Assets℠, Paradigm, Sequoia Capital and Virtu Financial launch crypto trading platform EDX Markets• Linux Foundation is tackling open-source digital wallets with the OpenWallet project wallet interoperability• US Treasury wants you to get licensed to reclaim your assets from Tornado Cash• SEC's Gary Gensler doesn’t think additional legislation or regulation is necessary for managing the CryptoverseThere is even more going on today. So here is what else is on my mind today.1. As a follow-up to my reporting on June 8th, Charles Schwab, Citadel Securities, Fidelity Digital Assets℠, Paradigm, Sequoia Capital and Virtu Financial joined forces to leverage MEMX technology to launch EDX Markets. This is a trading platform that will work through trusted intermediaries for what they are saying is safer, faster and more efficient trading environment. 2. You know things are serious when even the Linux Foundation has crypto project. The OpenWallet Foundation will work with companies and non-profits to create an open-source engine to create digital wallets. There is already a lot of open source code out there. What makes this different is the interoperability they are aiming for. 3. In a not so stunning move, the US Treasury wants anyone that wants to extract their assets from Tornado Cash to be licensed. Read as registered. As you can imagine, this is going to pose a major problem for some as they would have to identify themselves and why they were using the service to begin with. Oh, this is not going to end well. 4. To further demonstrate how far out of touch he is, Gary Gensler sat down with CoinDesk's Nikhilesh De to talk crypto. Gensler still thinks existing regulations are enough for the SEC to manage the burgeoning Cryptoverse. Does he not hear what everyone else is saying, including the President? I take this as a clear statement that he does not want any more legislation or regulation. The current situation gives him free reign to continue what I describe as tyranny.