WEBVTT

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<v Speaker 1>Hey, everyone, welcome into the Thinking Crypto podcast. You're home

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<v Speaker 1>for cryptocurrency news and interviews. I'm your host, Tony Edward.

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<v Speaker 1>On your way in, and please let that subscribe button

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<v Speaker 1>as well as the thumbs up button and leave a

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<v Speaker 1>comment below. If you're listening on a podcast platform such

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<v Speaker 1>as Spotify or Apple, please leave a five star rating

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<v Speaker 1>and review. Okay, folks, quick look at the bitcoin chart.

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<v Speaker 1>We are still in no man's land, sideways chop hell,

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<v Speaker 1>we are not seeing any type of price action. Bitcoin

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<v Speaker 1>did move up to about seventy K, I believe earlier

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<v Speaker 1>today and even yesterday, but there's no definitive move to

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<v Speaker 1>the upside or downside, and of course bears are calling

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<v Speaker 1>for a further downside. There is the possibility that a

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<v Speaker 1>relief rally continues up to about eighty K before rolling over,

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<v Speaker 1>but we're gonna have to wait and see. As we've

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<v Speaker 1>been highlighting with the macro uncertainty of the war, and

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<v Speaker 1>you know, Trump posts something negative, it could send markets tumbling.

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<v Speaker 1>So it's a really tough time in the markets. But look,

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<v Speaker 1>it's the bear market, and there's certainly accumulation opportunities here,

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<v Speaker 1>and this is where you have to have the long

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<v Speaker 1>term view on what's happening in the markets, because even

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<v Speaker 1>the stock market is seeing weakness, and I anticipate that

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<v Speaker 1>we could see further downside for both the stock and

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<v Speaker 1>crypto markets, but of course that's not going to be

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<v Speaker 1>the case forever. There will be a bottom and then

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<v Speaker 1>we're going to start moving back up into a bull market.

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<v Speaker 1>So patients is the key here now, folks. Very big

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<v Speaker 1>statements coming out from SEC Chair Paul Atkins. He was

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<v Speaker 1>speaking at a summit today, in fact, the Digital Assets

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<v Speaker 1>and Emerging Tech Policy Summit, which was held in collaboration

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<v Speaker 1>with Vanderbilt University as well as the Blockchain Association. Well,

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<v Speaker 1>he said they will the SEC will propose a reg

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<v Speaker 1>crypto for token fundraising soon under the thirty three Act.

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<v Speaker 1>Talking about the nineteen thirty three Act, will it will

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<v Speaker 1>be open for common as well. Atkins says we will

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<v Speaker 1>soon have innovation exemption for use of DeFi under the

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<v Speaker 1>thirty four Act. So the SEC and the CFDC are

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<v Speaker 1>front running the Clarityact right which is stuck in the

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<v Speaker 1>Senate right now because we're still waiting for a banking

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<v Speaker 1>stable coin yield compromise. But that's not stopping the agencies

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<v Speaker 1>which would have had to do this rule making anyway,

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<v Speaker 1>right because the Clarity Act would essentially give the mandate,

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<v Speaker 1>But they're doing it ahead of time, which is really

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<v Speaker 1>really bullish and really great. So things are moving ahead

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<v Speaker 1>on this front, and I think having these agencies provide

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<v Speaker 1>the guidance regardless of where the Clarity Act is is

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<v Speaker 1>very important because the agencies, like the SEC and the CFDC,

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<v Speaker 1>they do the enforcing right. It's not so much Congress

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<v Speaker 1>passing a bill. It is the agencies who have to

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<v Speaker 1>take action. So the fact that they're giving this clarity

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<v Speaker 1>is really great. Many of you may recall recently the

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<v Speaker 1>SEC gave clarity on which crypto assets are securities. They

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<v Speaker 1>gave four categories, right, and they also talked about tokenization

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<v Speaker 1>guidelines that will be coming soon, so really great stuff. Here.

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<v Speaker 1>Eleanor Terrott gave some definitions of what reged crypto means.

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<v Speaker 1>She said it refers to a proposed capital raising exemption

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<v Speaker 1>in the Senate's version of the CLARITIAC Section one oh

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<v Speaker 1>three that would create a new exemption under the Securities

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<v Speaker 1>Act of nineteen thirty three. It is designed for crypto

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<v Speaker 1>projects that want to raise funds from investors, distribute tokens,

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<v Speaker 1>and work toward decentralization. So this is a key, key

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<v Speaker 1>guideline here, guys, because this goes back to why Ripple

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<v Speaker 1>was sued and all the stuff that went on under

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<v Speaker 1>Gary Ginster even before Gary Againster with Jay Clayton and

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<v Speaker 1>much more Ryan. So this would be the pathway for

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<v Speaker 1>many companies to launch their own tokens, and I anticipate

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<v Speaker 1>we're going to see big companies launch their brand tokens,

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<v Speaker 1>new crypto projects coming out. They register with the SEC,

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<v Speaker 1>they do what they got to do on how much

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<v Speaker 1>money they can raise, if there's a cap on the

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<v Speaker 1>amount of toeins, all that stuff, right, We obviously need

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<v Speaker 1>the details, but this is really good. This is going

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<v Speaker 1>to allow for more innovation. Eleanor says the new reg

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<v Speaker 1>crypto exemption would contain a bespoke disclosure framework and a

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<v Speaker 1>cap on fundraising. According to Paul Atkins, the SEC is

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<v Speaker 1>working on its own version through rulemaking while the Clarnyact

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<v Speaker 1>moves through Congress. So obviously we need the details. But

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<v Speaker 1>I know Chair Atkins hester person the team there, they're

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<v Speaker 1>working in good faith to find the balance regulations here.

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<v Speaker 1>And you know I've had many guests on the podcast

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<v Speaker 1>where we talked about the meme coin type of setup.

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<v Speaker 1>I wonder how they're going to regulate that, even though

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<v Speaker 1>they said that's not a security. In addition to, you know,

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<v Speaker 1>what are the fundraising models that could come out here

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<v Speaker 1>and how can maybe banks do that or different entrepreneurs

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<v Speaker 1>or different companies. Right, there's a lot they need to

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<v Speaker 1>define and give information on. But this is really really

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<v Speaker 1>the important for the future growth of the market. So

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<v Speaker 1>very very big news here. Now, look at this JP

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<v Speaker 1>Morgan's Jamie Diamond. He's, of course the CEO sees new

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<v Speaker 1>competitors on blockchain and stable coins, of course he does.

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<v Speaker 1>But JP Morgan's going all in. They've been building and

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<v Speaker 1>tokenizing and doing a lot with their own stable coin,

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<v Speaker 1>if you want to call it that the jpm coin,

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<v Speaker 1>I believe it is, and they have connectus and much

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<v Speaker 1>more so. In his annual share letter on Monday, Diamond

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<v Speaker 1>identified artificial intelligence, data and advanced technology as key to

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<v Speaker 1>the future, signaling a shift toward more automated, data driven

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<v Speaker 1>financial services. While blockchain and digital assets were not essential focused.

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<v Speaker 1>Diamond acknowledge that a whole lot of news set of

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<v Speaker 1>competitors are emerging based on blockchain, which includes stable coins,

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<v Speaker 1>smart contracts, and other forms of tokenization. The comments come

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<v Speaker 1>as JP Morgan continues to focus on its own blockchain initiatives,

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<v Speaker 1>and as Diamond emphasized that the bank's long term success

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<v Speaker 1>will depend largely on its ability to deploy AI across

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<v Speaker 1>its operations. So we know JP Morgan's all in right,

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<v Speaker 1>and despite what Jamie Diamond was saying for years and

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<v Speaker 1>now in his annual letter he's highlighting blockchain, staple coins, tokenization.

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<v Speaker 1>So we've come a far away all these naysayers and

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<v Speaker 1>detractors and all of them have bent the knee Jamie Diamond,

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<v Speaker 1>Vanguard and many others folks. This episode is brought to

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<v Speaker 1>you by I Trust Capital, which makes crypto investing easy

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<v Speaker 1>via an IRA. In I Trust Capitals IRA, you can

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<v Speaker 1>invest in over ninety crypto assets bitcoin, xrpe Theorem, Salona,

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<v Speaker 1>and much more. And you can invest in precious metals

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<v Speaker 1>like gold and silver, and you get huge tax advantages

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<v Speaker 1>for doing so. So if you have a long term

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<v Speaker 1>view on these asset classes, you can do it via

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<v Speaker 1>the IRA and get the tax advantages. You can buy,

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<v Speaker 1>sell crypto gold, and silver twenty four to seven. It's

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<v Speaker 1>low cost, no monthly fee, and if you have an

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<v Speaker 1>existing four one K or IRA, you can simply roll

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<v Speaker 1>it over to I Trust Capital's version. Now with the

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<v Speaker 1>gold and silver, this is not paper gold and silver,

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<v Speaker 1>this is actual physical assets that if you want to

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<v Speaker 1>redeem it, you want to redeem the golden and silver,

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<v Speaker 1>you can do that. Not many platforms offer that. So

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<v Speaker 1>and they have a great custody option, so it's called

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<v Speaker 1>Premium custody account. It uses the likes of coinbased prime, FIDELT,

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<v Speaker 1>digital Assets fireblocks. We know that Blackrock leverages coin based prime,

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<v Speaker 1>so you're getting top of the line security when it

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<v Speaker 1>comes to custody, and you can buy and sell with

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<v Speaker 1>you twenty four to seven. It's closed loops. If someone

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<v Speaker 1>hacks into your account, they cannot withdraw your funds. So

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<v Speaker 1>it's really really great. I believe it's the second safest

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<v Speaker 1>way to store your crypto assets outside of self custody

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<v Speaker 1>where you control the keys, and it's low fees guys,

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<v Speaker 1>So again institutional grade crypto custody here, so a great

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<v Speaker 1>option both on the investing as well as the custody side.

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<v Speaker 1>So if you'd like to learn more about I trust Capital,

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<v Speaker 1>make sure you check out the link in the description.

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<v Speaker 1>If you use my link, you can get one hundred

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<v Speaker 1>dollars funding bonus, So check them out. Link will be

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<v Speaker 1>in the description. Now, folks, look at this news. Circle

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<v Speaker 1>is planning to launch sir btc. Cir btc, a one

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<v Speaker 1>to one bitcoin backed wrapped token built for institutional DeFi.

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<v Speaker 1>So Circle obviously the second largest staple coin issue with USDC.

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<v Speaker 1>They've been doing a lot of innovation. They're obviously public

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<v Speaker 1>now and here's another example of their innovation. So they're

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<v Speaker 1>doing this DeFi wrapped bitcoins and it's for institutions, so

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<v Speaker 1>really really great to see this happening. And it's essentially

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<v Speaker 1>building the bridges for these institutional players to bring in

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<v Speaker 1>more capital into the market. Right, that's what's being built

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<v Speaker 1>across the globe. Retail already has the access not only

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<v Speaker 1>with native crypto firms and apps and exchanges, but also

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<v Speaker 1>you know those general investing apps like robin Hood and

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<v Speaker 1>PayPal and public and much more. So. This is really great.

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<v Speaker 1>Here's an example of how blockchain is just being implemented globally.

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<v Speaker 1>China's tax authority urges bank to implement blockchain for lending services.

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<v Speaker 1>So despite China's smokescreen of banning crypto and this and

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<v Speaker 1>that throughout the years, they are very bullish. They control

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<v Speaker 1>Hong Kong, and Hong Kong is one hundred percent in

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<v Speaker 1>support of crypto. They have ETFs, they have banking services

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<v Speaker 1>for crypto companies and much more. And I believe eventually

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<v Speaker 1>the ETFs in Hong Kong will be open to mainland China.

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<v Speaker 1>So let me give it to details here. China's tax

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<v Speaker 1>and financial regulators on Monday urge banks and local authorities

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<v Speaker 1>to use blockchain and privacy computing to upgrade the bank

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<v Speaker 1>tax interaction model and expand financing for small businesses. The

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<v Speaker 1>State Administration of Taxation and National Finance Regulatory Administration said

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<v Speaker 1>in a joint policy notice that banks and taxpayers should

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<v Speaker 1>standardize data sharing and reduce information asymmetry between tax authorities,

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<v Speaker 1>banks and enterprises. The report also urges banks to improve

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<v Speaker 1>credit models, enhance credit approval efficiency, and increase the supply

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<v Speaker 1>of financing services to honest tax paying enterprises. The directive

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<v Speaker 1>aligns with China's broader effort to integrate blockchain into data infrastructure.

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<v Speaker 1>Following a National Development and Reform Commission roadmap released in

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<v Speaker 1>January twenty twenty five targeting nationwide implementation by twenty twenty nine.

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<v Speaker 1>Shen Zulin, the deputy director of the National Data Administration,

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<v Speaker 1>said in a January twenty twenty five press conference that

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<v Speaker 1>China expects blockchain based data infrastructure to attract four hundred

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<v Speaker 1>billion yu wan about fifty eight billion dollars in yearly investments.

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<v Speaker 1>So across the globe, every country is integrating blockchain in

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<v Speaker 1>one way or the other. It's what we've been talking

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<v Speaker 1>about on this podcast for years that the future capital markets, economies,

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<v Speaker 1>and governments will all run in blockchain rails. That is

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<v Speaker 1>where the punk is heading. And to see a country

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<v Speaker 1>like China, you know, embracing these technology. We know they've

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<v Speaker 1>already launched their digital Yuan, and there were even papers

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<v Speaker 1>years ago done about they want to make Shanghai a

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<v Speaker 1>very pro tech and Web three friendly city, and they're

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<v Speaker 1>looking to integrate web pree technology obviously blockchain technology. So

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<v Speaker 1>it's amazing what's happening. And this is why I'm bullish

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<v Speaker 1>long term. Now final news item. The future of institutional

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<v Speaker 1>crypto runs through prime brokerages. So this is an opinion

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<v Speaker 1>piece and the chief product officer at Signum and his

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<v Speaker 1>name is Dominic Lohberger. So counterparty risk in crypto markets

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<v Speaker 1>has always moved in cycles. Exchanged default or get hacked.

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<v Speaker 1>Standards tightened for a while, then complacency quietly returns as

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<v Speaker 1>losses are forgotten. What is happening this time is different.

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<v Speaker 1>Leading traditional financial players entering crypto must adopt practices from

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<v Speaker 1>established financial markets for the first time. The infrastructure exists

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<v Speaker 1>to enable them to do so. They can mirror assets

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<v Speaker 1>held with regulated custodians onto trading venues without ever depositing

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<v Speaker 1>on exchange. This is a lasting change in how serious

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<v Speaker 1>money actually moves through digital assets, he says. Here to

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<v Speaker 1>separation of powers considered the mergers and acquisitions deal flow,

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<v Speaker 1>Ripple deployed one point twenty five billion dollars to acquire

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<v Speaker 1>Hidden Road. Hidden Road is a global multi asset prime broker.

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<v Speaker 1>This was the largest acquisition in crypto history. It signaled

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<v Speaker 1>that institutional trading infrastructure is where value will concentrate. Standard

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<v Speaker 1>charters building a crypto prime brokerage under its own venture arm.

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<v Speaker 1>These are infrastructure bets by firms that see where the

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<v Speaker 1>market is heading. So I think he's right here because

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<v Speaker 1>you're seeing the convergence of crypto and trade and the

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<v Speaker 1>things we've talked about for years that the setups, the

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<v Speaker 1>white globe service, the bells and whistles, the moving parts

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<v Speaker 1>and components that exists for tradify will be built for

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<v Speaker 1>crypto and that will happen through acquisitions and mergers and

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<v Speaker 1>things like that. And you know, the example he gave

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<v Speaker 1>here was with Ripple right, and they've been doing a

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<v Speaker 1>lot with Hidden Road. So it absolutely makes sense. And

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<v Speaker 1>I think we're going to move away from exchanges, and

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<v Speaker 1>not to say that exchanges won't exist at all, but

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<v Speaker 1>just the masses, the billions of people who have not

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<v Speaker 1>gotten access to cryptoet they're going to come through these

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<v Speaker 1>prime brokers and much more so. He said, for most

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<v Speaker 1>of crypto's history, exchanges have played every role at once,

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<v Speaker 1>from trading venues, custodians and clearinghouses, exchanges played them all.

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<v Speaker 1>That conflation of roles was a necessity in bigcoin's earliest days.

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<v Speaker 1>It was never going to survive institutional adoption at scale,

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<v Speaker 1>so I think he's right, and he referenced you know,

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<v Speaker 1>the FTX collapse and the bybit hacking much more so

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<v Speaker 1>I think he spot on. And you know I've given

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<v Speaker 1>the mock scenario years ago, you know, just for fun,

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<v Speaker 1>like mister Jones. This is Dan from JP Morgan. You

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<v Speaker 1>banquet us. We now offer a crypto investment and guess what,

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<v Speaker 1>you don't have to do anything. You just let us

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<v Speaker 1>know what you want to invest in and we'll take

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<v Speaker 1>care of everything. We'll send you to reports, we'll custod

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<v Speaker 1>it for you. That's what's coming folks, right the banks

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<v Speaker 1>are going to be calling up your mom and dad,

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<v Speaker 1>your aunts and uncles and others who you know are

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<v Speaker 1>not necessarily going to go on coinbase and by crypto,

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<v Speaker 1>they're going to go through these institutions that they know.

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<v Speaker 1>So I think this is spot on, folks. That's the news.

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<v Speaker 1>Let me know what you think. Leave your thoughts in

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<v Speaker 1>comments below, hit the thumbs up button subscribe if you

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<v Speaker 1>book on Amazon. It's available in paperback in digital and

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<v Speaker 1>check out my course at Mycrypto course dot com. This

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<v Speaker 1>is a comprehensive course that teaches you everything you need

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<v Speaker 1>to know about bitcoin, crypto, blockchain, and much more. It

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<v Speaker 1>features expert commentary and folks, we got a big bear

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<v Speaker 1>market sale going on. You get fifty percent off the

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<v Speaker 1>So again, comprehensive course that teaches you everything you need

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<v Speaker 1>to know. Knowledge is power, so check it out. Go

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<v Speaker 1>to Mycrypto course dot com. All of the links will

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<v Speaker 1>be in the description. Folks, thank you so much for

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<v Speaker 1>tuning in. I appreciate you all and I'll talk to

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<v Speaker 1>you all later