EddieJayonCrypto

 12 Oct 23

tl;dr

Crypto surveillance has me ticked while other moves are still making me feel hopeful. Here is what is on my mind today1. Stellar is back in the news and making waves. They have partnered with Certora to boost security on their smart contract platform Soroban. I think this is going to bring more acti...

Crypto surveillance has me ticked while other moves are still making me feel hopeful. Here is what is on my mind today

1. Stellar is back in the news and making waves. They have partnered with Certora to boost security on their smart contract platform Soroban. I think this is going to bring more activity on the platform for Stellar. If there is one thing people are focused on, it is security.

2. There has been movement in the Bitcoin spot ETF space. ARK Invest has updated their proposal in response to additional SEC critiques. This shows a couple of this. The first and most important is that the SEC is actively engaging the firm. Secondly, they gave the firm an opportunity to respond. I am not saying things are going to happen this year, but I would say the action adds to an eventual positive outcome.

3. JPMorgan is making big moves as they continue pushing their Tokenized Collateral Network (TCN). TCN will be leveraged to tokenize BlackRock shares for collateral in OTC derivatives trade with Barclays. I first told you about what was going on with JPMorgan's Onyx Digital Assets arm way back in June of last year. The plan was always to have their own network to tokenize assets. This is proof positive the network is being well received. This is in addition to their JPM Coin that has seen about $300B processed.

4. The IRS is being hammered by lawmakers, including Elizabeth Warren and Bernie Sanders to get crypto ax requirement in place. Apparently, them and the treasury have been moving too slow to get the job done and people are growing impatient. The current schedule sets the implementation by 2026 for 2025 transactions.

5. Have you been paying attention to our Twitter account or our Facebook page/ If you did you would have heard about that $29B in back taxes owed by Microsoft and other breaking news.

6. The Bank of International Settlements (BIS) is working with several other European banks to pilot a system giving them complete crypto surveillance. They want to watch how crypto flows around the world. Known as Project Atlas, BIS, De Nederlandsche Bank, Deutsche Bundesbank and Eurosystem are putting the system through its paces. This should shake you to your core since this is completely designed to surveil.

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🚨 Full Disclaimer: This video and its contents are for informational purposes only and do not constitute an offer to sell or trade, a solicitation to buy, or recommendation for any security, cryptocurrency, or related product, nor does it constitute an offer to provide investment advice or other related services by Eddie Jay on Crypto. Eddie Jay on Crypto may have a financial investment with the cryptocurrencies discussed in this video. In preparing this video, no individual financial or investment needs of the viewer have been taken into account nor is any financial or investment advice being offered. Any views expressed in this video were prepared based upon the information available at the time such views were written. Changed or additional information could cause such views to change.

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