EddieJayonCrypto
20 Apr 22
• The IMF is seeking to create uniform regulation around cryptocurrencies• The Sandbox is reportedly planning on a $400M raise• India is still bitching about the dangers of crypto• Coinbase's NFT marketplace is now in the beta stage• 2 rule changes that would send the SEC deeper into the confusion z...
• The IMF is seeking to create uniform regulation around cryptocurrencies• The Sandbox is reportedly planning on a $400M raise• India is still bitching about the dangers of crypto• Coinbase's NFT marketplace is now in the beta stage• 2 rule changes that would send the SEC deeper into the confusion zone are being questioned by lawmakers• New York continues to be one of the worst states in the union for crypto businessThere is a lot of news that is going to be impactful both near term and long. Here is what's on my mind today.1. What is the IMF thinking? So, we all know they have been making noise that is mostly anti-crypto. Now they have a paper out saying there should be uniform regulation. I kind of agree with that, but I think each fiat is going to have to create some sort of regulation that fits its specific economic situation. I think the best they can hope for are similarities in regulation. Perhaps, a baseline of regulations then differentiation from there. Still, there are going to be drastic differences from country to country. 2. The Sandbox is reportedly planning on a $400M raise. As one would think, this sent their coin soaring 17%. That's nice. This is, If you are paying attention to what I have been saying, this is the first shoe to drop in what will, most likely, be a string of announcements that will help the crypto move. The next will be the official announcement, followed by the completion of the raise and what the raise will be used for. Mind you, The Sandbox has spoken about their roadmap in the past. In other words, keep an eye on it! 3. India is still bitching about the dangers of crypto. India is one of the world's dumbest crypto hate states. They are experiencing a serious brain drain and they keep running their mouths and making it worse. This time it was the Financial Minister yapping about crypto being used for money laundering and terrorism risks. Well, WazirX co-founders have left India and moved to Dubai and their operations along with them. Clearly, this is a sign. As well, India clearly doesn't give a damn. 4. Well, Coinbase's NFT marketplace is now in the beta stage. This is going to be quite interesting as you consider the number of NFT marketplaces, their usefulness and content. Something else I find interesting is the possible cross-marketplace marketing opportunities for NFT creators. A burgeoning market is going to create opportunities. I am keeping my eye on this from a stock perspective as well as a crypto one. 5. SEC Chairman, Gary Gensler, is still taking the ambiguous path when looking to regulate the crypto space. He has 2 rule changes that would send the SEC deeper into the confusion zone. The first is to expand the definition of what an exchange is and the other a redefinition of what a dealer is. The latter could lead to cryptocurrencies being defined as securities. Not really a shocker with what the SEC is doing in the case against Ripple, right? This ambiguity is being questioned by a couple of Republican Congressman. They have co-authored a letter to the chairman stating this ambiguity would hurt the market due to lack of confusion. The more I speak about Mr. Gensler the more I think he is not up to the task. It is like he is not even trying. 6. For a state that says it wants to do more to help the crypto space, New York continues to be one of the worst states in the union for crypto business. They are raising prices for BitLicenses in the form of assessment fees and those can be as high as $5,000. Mind you, NY is the worst state to even get your coin traded. This is hurtful to the crypto space and doesn't seem to be changing anytime soon.