EddieJayonCrypto
5 Apr 22
• The UK wants to make stablecoins valid forms of payment• Now the Chair of the SEC would like to work with the Commodity Futures Trading Commission (CFTC) to oversee the space• FTX positions itself to create a venue for digital asset trading with an investment in IEX• Jamie Dimon praised blockchain...
• The UK wants to make stablecoins valid forms of payment• Now the Chair of the SEC would like to work with the Commodity Futures Trading Commission (CFTC) to oversee the space• FTX positions itself to create a venue for digital asset trading with an investment in IEX• Jamie Dimon praised blockchain and decentralized finance• I predict the upcoming Ethereum merge is going to usher in incredibly high growth for the coinA big move by the UK could spur new looks at crypto by other countries. Here is what's on my mind today.1. The UK wants to make stablecoins valid forms of payment. Who's shocked? I'm not. I have been saying that countries will begin to wake up and start developing realistic regulatory frameworks for cryptocurrencies. The UK is aiming to become a crypto tech hub, and this is only the first step. 2. Yesterday I mentioned there could be a feud brewing the two agencies that could oversee cryptocurrency regulations. Well, I wonder how this would work out considering the rather strong hand the SEC has been taking in practice versus real regulation. Some, like the co-founder and CEO of FTX, Sam Bankman-Fried, think the CFTC would take a lighter approach to official regulation. 3. FTX positions itself to create a venue for digital asset trading with an investment in IEX. IEX has made a name for itself creating opportunity in trading where others found difficulty. This aligns well with style and approach of FTX. When the regulations come this team may be the most poised to create the first venue of its kind in the US. This is a long game move but should bring serious returns when the dust settles. 4. In his annual letter to shareholders, Jamie Dimon praised blockchain and decentralized finance. The best part is that he said, “JPMorgan Chase is at the forefront of this innovation.” That is a mighty endorsement of the space and signals traditional finance must hop on board or get left behind. 5. I predict the upcoming Ethereum merge is going to usher in incredibly high growth for the coin. Ethereum will be a faster blockchain and, more importantly, it will be far more eco-friendly moving away from proof-of-work to using proof-of-stake.