The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
It sounds as though he's against any ETFs that directly own BTC, but is open to the idea if they just own the futures.
(another link, same stort, for people without Bloomberg)
https://www.cnbc.com/2021/08/03/what-the-sec-chairs-comments-on-crypto-mean-for-a-possible-bitcoin-etf.html
There is already progress since this was mentioned this morning: "Gensler said that an ETF that complies with the SEC’s strict rules for mutual funds could provide investors with necessary protections. Speaking in his first major speech on cryptocurrencies, Gensler also signaled an openness to an ETF focused exclusively on Bitcoin futures"
https://www.bloomberg.com/news/articles/2021-08-03/sec-s-gensler-signals-pathway-for-a-bitcoin-etf-with-tough-rules
(3 August 2021, 17:15 BST)
This would be a great first step.
far more to be gained from widespread institutional adoption than would be lost to marginal transaction taxes.
ObiWan - Thanks sounds good.
First they tightened the definition of broker, now the spokesperson for the senator who drew up the bill has stated does not apply to miners.
Tax and regulation = acceptance
https://bitcoinmagazine.com/business/us-infrastructure-bill-bitcoin-miners-coders-exempt
Completely agree with this thread theme - regulation and taxation is good long term. Gensler defo a positive for the long term and certainly agree the many rich and powerful invested will ensure BTC succeeds now.
It always amazes me how some seem to think politicians run the world. They play a large part of course, but they are funded by the super rich behind the scenes and it is these who decide who gets to run or not. Agreements and expectations will be planned way before the politicians get to take their seats and no one upsets their big donors.
https://www.trustnodes.com/2021/08/03/bitcoin-is-now-cash-according-to-a-new-proposed-law
Not sure if this is significant but law will state Bitcoin is Cash.
Also new reporting rules etc do not apply until 1.1.2023.
https://markets.businessinsider.com/news/currencies/gary-gensler-sec-crypto-regulation-bitcoin-defi-fraud-stablecoins-rules-2021-8
Gensler - Crypto will only become mainstream if regulation in place.
so next step Amiga :0
The crazy thing all the trolls are forgetting is the 'Crypto Tax' will just legitimise, and confirm BTC as an investment worthy asset therefore accelerating its price and our sp. Also anyone thinking that the US government is going to miss the opportunity to earn some kind of revenue of this are mad! Sure, some bumps early on in the road are inevitable but the long term outcome will be more confidence from both private and institutional investors, if we were a computer then we are at the commodore 64 stage of the journey I can't wait for Macbook Pro!
Yes and if they move to a country such as Portugal, they will pay zero tax on the cryptos held.
(worrying "too" much)
I think PI's are worrying to much about BTC and ARB.
The new SEC Chair Gary Gensler thoroughly understands crypto, having taught a course at MIT. While I can see him introducing more regulation, I don't think he's going to ban it completely. Regulation will make crypto even more attractive to institutional investors. As for the previous SEC Chair, Jay Clayton, he now works for One River Asset Management, where he's trying to get a Bitcoin ETF approved... strange world.
https://www.forbes.com/sites/jasonbisnoff/2021/07/31/former-sec-chair-jay-clayton-joins-fight-for-bitcoin-etf-after-refusing-to-approve-others/