Speaker 1: Hey, everyone, Welcome into the Thinking Crypto Podcasts. You're home
Speaker 1: for cryptocurrency news and interviews. I'm your host, Tony Edward.
Speaker 1: On your way in to Please sit that subscribe button
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Speaker 1: and review. Folks. We've got a very big update from
Speaker 1: the SEC today. They provided further guidance on securities laws
Speaker 1: as it relates to crypto assets. And even though we
Speaker 1: don't have the Clarity Act past as yet, the agencies,
Speaker 1: the SEC and the CFTC are providing guidance and this
Speaker 1: is going to help move things along with adoption and
Speaker 1: allow more institutions to come into the market to build
Speaker 1: invest in much more so. They put out a release
Speaker 1: titled SEC Clarifies the Application of Federal Securities Laws to
Speaker 1: Crypto Assets, and Chairman Paul Atkins of the SEC, he
Speaker 1: was at the DC Blockchain Summit to and he gave
Speaker 1: some statements. I'll share that with you, but let me
Speaker 1: give you some more details here. So the Commission issued
Speaker 1: an interpretation that clarifies the application of Federal Securities laws
Speaker 1: to crypto assets. This is a major step to provide
Speaker 1: greater clarity regarding the Commission's treatment of crypto assets. So
Speaker 1: SEC Chair Paul Atkins tweeted out the following regarding the announcement, saying,
Speaker 1: after more than a decade of uncertainty, this interpretation will
Speaker 1: provide market participants with a clear understanding of how the
Speaker 1: SEC treats crypto assets under federal securities laws. This is
Speaker 1: what regulatory agencies are supposed to do, draw clear lines
Speaker 1: in terms. Now, let me play a clip of him
Speaker 1: speaking at the DC Blockchain Summit today, which is hosted
Speaker 1: by the Digital Chamber.
Speaker 2: So today I'm pleased to announce that the SEC's persistent
Speaker 2: failure to provide clarity on this question is over. As
Speaker 2: we speak. The Commission is implementing a token taxonomy, an
Speaker 2: investment contract interpretation, and you should find that in your
Speaker 2: inboxer if you look on the website when you get home.
Speaker 2: Our interpretation, which is grounded in existing law and informed
Speaker 2: by extensive public input, establishes four asset categories that are
Speaker 2: not deemed to be securities, so digital commodities, digital collectibles,
Speaker 2: digital tools, and payment stable coins under the Genius Act
Speaker 2: with these categories in place. The interpretation then clarifies that
Speaker 2: only one crypto asset class remains subject to securities laws,
Speaker 2: namely digital securities, which are traditional securities that are tokenized.
Speaker 2: This distinction returns the SEC to its core mission and
Speaker 2: statutory authority of protecting investors involved in securities transactions. We're
Speaker 2: not the Security is an everything commission anymore.
Speaker 1: So the question, so this is really great, folks, this
Speaker 1: is very bullish. Again, it is providing the clarity for
Speaker 1: more adoption of crypto, more investment into crypto, and we
Speaker 1: know this asset class is still very young and there's
Speaker 1: still more to go. Higher valuations of the respective blockchains
Speaker 1: that get adopted, plus the higher valuations of their native tokens.
Speaker 1: And again it is both the SEC and the CFTC
Speaker 1: collaborating on these things. Recently, I reported about Mike sea
Speaker 1: Leg chair of the CFTC, and Paul Atkins sitting down
Speaker 1: together shaking hands. They're talking, Mike collaborating. So this is
Speaker 1: really really awesome. Now here's what folks in the industry
Speaker 1: are saying. First up, Stuart Alderoady, Ripple's chief legal officer.
Speaker 1: He said, we always knew XRP wasn't a security, and
Speaker 1: now the SEC has made clear what it is a
Speaker 1: digital commodity. Grateful to the Crypto Task Force for working
Speaker 1: to deliver the clarity that markets, investors, and innovators have
Speaker 1: long deserved. Nature Raci, who's been a frequent guest on
Speaker 1: the podcast, said SEC just issued critical guidance on how
Speaker 1: various crypto assets will be classified, not waiting on the claritiac.
Speaker 1: Most crypto assets are not themselves securities. This is a
Speaker 1: quote from the guidance the SEC provided. Nate adds, this
Speaker 1: type of procrypto innovation stance from the SEC would have
Speaker 1: been unthinkable two years ago. So of course Gary Ginster
Speaker 1: was not going to provide anything like this. In fact,
Speaker 1: he was trying to stifle the industry so his buddies
Speaker 1: can catch up and they can control it, right talking
Speaker 1: about his Wall Street traad five buddies. So guys, this
Speaker 1: is so awesome. This is so great, and I think
Speaker 1: this is going to lead to more adoption because again,
Speaker 1: if you think about it, you certainly need the claritiac.
Speaker 1: But the actual people who need to provide the guidance
Speaker 1: and enforce it are the agencies. The fact that the
Speaker 1: agencies are going ahead and getting this done while the
Speaker 1: Clarity Act is still being sorted out in the Senate.
Speaker 1: Is really great. So they're getting ahead of the curve here.
Speaker 1: And I really really love what's happening. And I'm going
Speaker 1: to try to get SEC Chair Paul Atkins on the
Speaker 1: podcast to talk about this because this is all great. Now,
Speaker 1: speaking of agencies, the popular Salona wallet Phantom wins the
Speaker 1: CFDC NOD to access regulated derivatives markets. So these agencies
Speaker 1: are providing guidance. They are giving out approvals on what
Speaker 1: the infrastructure companies like Wallace and Exchanges can do and
Speaker 1: much more. So let me give you some details here.
Speaker 1: The CFTC said it won't pursue an enforcement against the
Speaker 1: Phantom wallet for acting as a non custodial interface connecting
Speaker 1: users to registered derivatives platforms, removing the need for broker
Speaker 1: registration under specific conditions. Phantom calls the relief first of
Speaker 1: its kind, enabling in app access to regulated derivatives and
Speaker 1: event contracts while signaling a potential regulatory template for other
Speaker 1: crypto wallet providers. So I think this is spot on.
Speaker 1: I think this could be further guidance that the CFTC
Speaker 1: provides and really great to see these things. Guys, this
Speaker 1: is awesome. I'm really really excited about it because you know,
Speaker 1: I was feeling a bit upset about the CLARITYAC situation.
Speaker 1: But the fact that these agencies are moving ahead is
Speaker 1: really really great. And you know, it calls back to
Speaker 1: what Austin Campbell, who I interviewed not too long ago,
Speaker 1: and many of you, I think really appreciated that interview.
Speaker 1: He said, it really comes down to the agencies, the
Speaker 1: regulatory agencies, and I think this is a clear example
Speaker 1: that it matters what they do, not so much that
Speaker 1: the Clarity Act has passed or not passed. Yes, you
Speaker 1: need the Clarity Act pass because it just makes everything
Speaker 1: official and it's rubber stamped and signed into law. Right,
Speaker 1: but the agencies themselves have to act. But guys, it's
Speaker 1: a new day and things are moving in the right direction, folks.
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Speaker 1: are looking to acquire stable coin infrastructure company bv NK
Speaker 1: for up to one point eight billion dollars. So the
Speaker 1: deal would add on chain payment rails for stable coins,
Speaker 1: token i deposits, and tokenize assets across one hundred and
Speaker 1: thirty plus countries to Mastercard's existing network. MasterCard has been
Speaker 1: doing a lot, if you guys recall most recently they
Speaker 1: launched their Crypto Partner program right that was just last week,
Speaker 1: where they're bringing crypto and banking companies together. So they're
Speaker 1: not playing around folks. Look at I mean, this is
Speaker 1: a huge acquisition, right. Do you think they're a bearish
Speaker 1: on blockchain technology? Do you think they see blockchain technology
Speaker 1: as a fad? Of course not. I think everybody recognizes
Speaker 1: this is how the markets, the economies, and governments will
Speaker 1: all function they're going to be running on blockchain rails.
Speaker 1: So again, MasterCard agreed to buy the UK based stable
Speaker 1: coin infrastructure firm BVNK for as much as one point
Speaker 1: eight billion dollars. The deal is intended to link on
Speaker 1: chain stable coin payments with MasterCards global network for cross
Speaker 1: border transfers, remittances and business the business transactions. The acquisition,
Speaker 1: which follows failed talks between b and Coinbase, underscores MasterCards
Speaker 1: broader push into digital assets amid rising stable coin payment volumes,
Speaker 1: and is expected to close by year end, pending regulatory approvals. Now,
Speaker 1: many of you may recall I interviewed MasterCards head of
Speaker 1: Crypto last year. I hope to have him back on
Speaker 1: soon to talk about all these great initiatives in this
Speaker 1: upcoming acquisition and talk about their updated strategy because it's
Speaker 1: amazing what's happening. And of course their competitors Visa are
Speaker 1: also doing the same thing, building with blockchain tech, stable
Speaker 1: coins and much mores. It's just amazing to see these
Speaker 1: firms do these things. Now, speaking of stable coins, PayPal
Speaker 1: had just made a major update, so their stable coin
Speaker 1: PYUSD is rolling out onto the PayPal wallet across seventy markets,
Speaker 1: enabling faster settlements, lower costs, and build for everyday global commerce. Again,
Speaker 1: send this type of news to these cryptoskeptics, the blockchain
Speaker 1: skeptics who don't understand what's happening, because aside from all
Speaker 1: the you know, the speculation and so forth, there's a
Speaker 1: legit technology that's going to be the fabriak of how
Speaker 1: things are functioning, as I mentioned in the capital markets,
Speaker 1: the economies and governments moving forward. So this is incredible.
Speaker 1: I will be interviewing paypals how to crypto this week
Speaker 1: to talk about this news, and we're going to go
Speaker 1: through all the details and you know what's your plan
Speaker 1: with Venmo and their crypto offering. Of course the stable
Speaker 1: coin rollout across the globe, and we're going to go
Speaker 1: through all the details and make sure you guys are
Speaker 1: subscribed for those interviews. Now moving ahead, this one's big
Speaker 1: as well Moody's many of you know, is the Ratings
Speaker 1: Agency becomes the first credit rating agency to bring its
Speaker 1: ratings on chain, debuting its token integration engine on the
Speaker 1: Canton network. Remember I've been telling you guys about Canton network,
Speaker 1: right the dtccs using them. I'm a Canton token holder,
Speaker 1: and I will continue to accumulate this token in the
Speaker 1: bear mark it as it hits new lows and other
Speaker 1: all coins as well. But this is one of my
Speaker 1: big bets, So huge news. Moody's is also going to
Speaker 1: be running a node on the Canton network. So I mean,
Speaker 1: I mean, I don't even know what to say anymore.
Speaker 1: This is just profound, right, You're just seeing the biggest
Speaker 1: names adopt crypto and blockchain technology in different ways. So
Speaker 1: Moody's Corporation today announced that Moody's Ratings has launched its
Speaker 1: network agnostic Token Integration Engine, becoming the first credit rating
Speaker 1: agency to ingest analytical data and share credit insights on chain.
Speaker 1: As an inaugural step, it is the first rating agency
Speaker 1: to operate a node on the Canton network. The milestone
Speaker 1: marks a significant step in Moody's commitment to digital innovation,
Speaker 1: intending to enable secure, compliant, and efficient ingestion of data
Speaker 1: and dissemination of ratings enabled by technology built for integration
Speaker 1: across platforms. Now, some of you may say, Tony, why
Speaker 1: would they need to put it on the blockchain, Well,
Speaker 1: if we're going to twenty four to seven, three sixty
Speaker 1: five markets and expanding markets globally. The current system can
Speaker 1: handle that. Blockchains is the way to go. So that's
Speaker 1: why it's all going on chain, the assets, the analytics,
Speaker 1: the data, right, all these things, everything that greases the
Speaker 1: whole system on chain guys. So this is why, regardless
Speaker 1: of if we're in a bear market and then is volatility,
Speaker 1: have the macro view of where the puck is heading here, right,
Speaker 1: take your bets, be patient and they will pay off.
Speaker 1: But you've got to be patient because there are cycles
Speaker 1: to markets, there are macro factors that affect markets. But
Speaker 1: obviously eventually it all works out. We just got to
Speaker 1: go through the roller coaster ride. Here's another example of
Speaker 1: institutional adoption. So US regional banks are building tokenized deposit
Speaker 1: network with on zksync to rival stable coins. So one
Speaker 1: of the things that banks are looking to do is
Speaker 1: build tokenized deposits, which you know, they kind of rival
Speaker 1: stable ones in a way, but not entirely because they
Speaker 1: can certainly coexist. So this is a very very fascinating one.
Speaker 1: It says here the carry network, and I've heard of this,
Speaker 1: but I don't know too much. So to carry cari
Speaker 1: network is targeting a twenty twenty six rollout as banks
Speaker 1: tests issuance, transfers and redemption of digital deposits. Participating banks
Speaker 1: include Huntington Bank, Shares, First Horizon, M and T Bank,
Speaker 1: Key Corp, and Old National Bank Corp. So certainly regional
Speaker 1: banks here pretty small, right, So to Carry network is
Speaker 1: you know, they're going to use it to move tokenized
Speaker 1: deposits instantly on blockchain rails while keeping funds inside the
Speaker 1: regulated banking system. Built on ZK Singh's infrastructure, The project
Speaker 1: is targeting a twenty twenty six rollout as banks test issuance,
Speaker 1: transfers and redemption of digital deposits. So again you're just
Speaker 1: seeing incredible stuff here. Now, just so you know, the
Speaker 1: Carry Network is a layer two platform built on ZK Sync.
Speaker 1: And if you don't know about ZK saying, there is
Speaker 1: a token, so again you could look to invest in
Speaker 1: his token. Not financial advice, because I'm not saying that
Speaker 1: you know this network that they built is going to
Speaker 1: be successful. I don't know I'm speaking of the banks,
Speaker 1: but clearly there's adoption. So if the price of this
Speaker 1: token is down, and you know might be a good
Speaker 1: bet it is down significantly, right, you can certainly grab
Speaker 1: some and I'm not saying it's going to go to
Speaker 1: the moon, but you know that there is potential for
Speaker 1: upside because it's getting utility and with news headlines of
Speaker 1: banks using it, you guys get what I'm saying, right,
Speaker 1: how you want to approach investing. There's other things you
Speaker 1: need to look at, like tokenomics, like who's behind the
Speaker 1: project and much more. Do your full due diligence there.
Speaker 1: But I mean, this is real world adoption here, right,
Speaker 1: This is what you want to see from the big
Speaker 1: It's getting adoption from the biggest institutions in the world.
Speaker 1: Moving ahead, crypto trading firm GSR expands token advisory with
Speaker 1: fifty seven million dollars in acquisitions. Wow, you guys may
Speaker 1: recall I interviewed one of the folks from GSR. I
Speaker 1: think it was last year, Yeah, late last year, and
Speaker 1: they're one of the crypto market makers, well known. They
Speaker 1: also do a lot more than market making. It looks
Speaker 1: like they're making some big acquisitions here. So crypto trading
Speaker 1: firm GSR is acquiring Autonomous and Architect for fifty seven
Speaker 1: million dollars to help crypto projects launch their tokens. Smart
Speaker 1: move you're a market maker have the ability to help
Speaker 1: companies and different projects to launch their tokens. So Autonomous
Speaker 1: will retain its brand and focus on token launch operations,
Speaker 1: while Architect will form the core of a new unit
Speaker 1: called GSR Digital Asset Advisory. By combining token design, fundraising,
Speaker 1: market access, and treasury operations on a single platform, GSR
Speaker 1: aims to replace the current patchwork of separate service providers.
Speaker 1: Very smart move, but you can see here everybody's gearing
Speaker 1: up doing as much of a land grab as possible,
Speaker 1: acquiring companies, building out their network, preparing for where the
Speaker 1: puck is heading, right folks. Final news item here. Ripple
Speaker 1: looks to expand crypto payment services in Brazil. So Ripple
Speaker 1: said it is expanding its digital asset services in Brazil
Speaker 1: and plans to apply for a Virtual Asset Service Provider
Speaker 1: license with the country central Bank. The company's rolling out
Speaker 1: an integrated platform for banks and FinTechs that combines cross
Speaker 1: border payments, crypto custody, brokerage, and treasury tools. Ripple's Brazil
Speaker 1: push comes amid rapid expansion through billion dollar acquisitions and
Speaker 1: launching a US dollar stable coin, Ripple usd r L USD,
Speaker 1: so a big, big expansion here, and Ripple continues to
Speaker 1: build its partnerships with FinTechs and banks around the world,
Speaker 1: and of course they're pushing the usage of the XRP ledger.
Speaker 1: Their stable coin are Lua and now they have, you know,
Speaker 1: all these brokerage and settlement platforms and all these things
Speaker 1: that if people want to even get exposure to other
Speaker 1: assets like bitcoin, they can do that. They want to
Speaker 1: have a custodian, they get. Ripple provides that smart smart
Speaker 1: move here by the team at Ripple, and they're going
Speaker 1: to be a powerhouse. You know, the headwinds they face
Speaker 1: with the SEC all gone and it's been only up
Speaker 1: from here. So if you go to r WA dot xyz,
Speaker 1: which is a site I've shared with you guys, you
Speaker 1: see the XRP ledger is now number four, number four
Speaker 1: guys in total value that is on that is tokenized
Speaker 1: on the XRP ledgers. So it's been growing and rising.
Speaker 1: Incredible stuff here, so you know, go check it out, guys.
Speaker 1: You can see how the other blockchains are performing. So
Speaker 1: just imagine the XRP ledger was not getting any type
Speaker 1: of adoption for a long time and now you just
Speaker 1: look at the chart, and it's been only up and up.
Speaker 1: The trend is up here right. People are putting all
Speaker 1: types of tokenized assets and much more on the XRP
Speaker 1: ledger now, so go check it out, guys. The data
Speaker 1: doesn't lie here. And again, it's not just the XRP ledger.
Speaker 1: You can look at a Canton network, e theorem, Solana
Speaker 1: and much more. Folks, that's the news. Let me know
Speaker 1: what you think. Leave your thoughts and comments below, hit
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