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Ripple pilots businesses to plead US to enact an affable crypto approach

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The US has had a sturdy stand on cryptocurrency and blockchain trading. The position, however, seems to be affecting big guns in the industry. As a result, a group of companies led by Ripple has joined hands to try and convince the US legislators to implement a friendly crypto environment.

In this move, Ripple among other small start-ups will somewhat pay lobbyists in crypto. This declaration comes after the coalition stated that it would hold on a cooperation lobbyist fir, Klein/Johnson Group, which is the linchpin in Fintech problems.

The US individuals were suspended from buying or mining cryptocurrencies for some reasons. First, the state believes the use of digital currency will be used by the majority to evade paying tax. Second, villain states will use the currency and bypass the US warrants. Also, it was noted that this form of currency would facilitate illegal activities.

The climate around the US regulatory agencies such as SEC (the Securities and Exchange Commission) is making the group of major players in the industry feel endangered. These regulatory agencies have been on the hunt to shut down ICOs and illegal cryptocurrency projects. Instead of handling them like special assets or commodities, they were being treated as securities.

As of this publication, the government of US is split on how to control the cryptocurrency sector. The primary concern for the split is on how to define different kinds of cryptocurrencies that fall in the utility tokens, commodities or securities tokens categories.

Securing America’s Internet of Value Coalition is the name these major players are calling themselves. They are optimistic that the US will validate their request and allow a friendly crypto ecosystem. Above all, this will be powering force pushing and funding demonstrative legislation expected to come out of DC.

Executive chairman of Ripple, Chris Larsen said the following regarding the new collaboration:

“We understand this cryptocurrency/blockchain is complex, and there is a lot of misguidances out there. The good news is that in DC, there is a lot of interest in this topic.”

Lobbyist will be earning 25K USD per month from the coalition on top of the 10k XRP tokens that will be taken as cash in all reports to the federal lobbying companies.

Larson explained that the move to make part of the payments in digital form was a deliberate as they can study the game. As a result, they will be a position to represent cryptocurrency, XRP to be specific before legislative supremacy.

Larsen stated:

“It gives them some upside and some risk as well. Hopefully, they will get a taste of the industry in a way that hits home.”

Uncertainty surrounding Cryptocurrency Constitution and Definition

Cryptocurrencies do not fall under the very same regulatory umbrella, and this is the reason to why it’s hard to classify them. Still, this is why it’s hard to divide roles amongst the US several regulatory agencies like the CFTC and the SEC.

Multiple courts of US have added more confusion with their rulings. The most recent is that of the federal judge who announced that digital currencies should get treated as the commodities. The judgment in question is a vow that the CFTC, not the SEC should take problems surrounding cryptos care. These are good news to the crypto investors.

In a ruling, the judge responsible for making the decision said:

“the Congress enacted the securities policies to balance investments, in whatever form they are made and by whatever name they are called..”

After changing lobbyist minds in DC, the chances are that might help stimulate friendly cryptocurrency policies which are needed with the industry. Investors are monitoring how regulatory firms are reacting to products such as the Bitcoin (BTC) ETF and Bakkt, the forthcoming cryptocurrency exchange.

Considering all the legal trouble Ripple has been facing in the past, this indeed looks to be a right investment of time and sources by the blockchain firm.

And of course, if the group succeeds in making US government understand the way they want, it will be a massive win for not only Ripple or the group of businesses standing by side of it but the whole crypto industry. Time will tell if US regulators change its mind regarding crypto or not; still, the group deserves a thumbs up.

Check out the Global Coin Report talk show as we address all the highlights in crypto and the financial markets. With guests from all over the cryptosphere bringing you news, editorial, and of course, money making opportunities.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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