European Banking Authority urges for a pan European regulation of the crypto market

Discussion in 'Wall St. News' started by mlawson71, Jan 10, 2019.

  1. The European Banking Authority urged the European Commission to take the necessary steps towards drafting pan European rules regulating the crypto currency sector, because the currently existing mishmash of national rules in some EU countries, and the lack of such in others, provides a fertile ground for money laundering and scam schemes.

    The conclusions of the European Banking Authority (EBA) are based on a year long study.

    EBA oversees the implementation of the EU law regulating the banking sector throughout the Union. According to the Authority the European Commission should prepare a cost-benefit analysis about extending regulation over the crypto sector.
     
    murray t turtle likes this.
  2. %%
    IBKR founder say bit con has no fundamental value.Spell checker not used.:D:D
     
  3. Anyone with half a brain in the financial industry knows what the restriction of 21.000.000 BTC means...The whole marketing set up of BTC reminds me of HYIP (High Yield Investment Programs).

    For the rookies out there in the crypto-world and all "evangelists" - here is a piece of research on HYIP (sponsored kindly by the FBI and others):

    The Postmodern Ponzi Scheme: Empirical Analysis of High-Yield Investment Programs

    https://www.cl.cam.ac.uk/~rnc1/hyips.pdf

    We term the websites that provide reputation services for HYIP programs ‘aggregators’. Given that HYIPs are confidence games that keep growing so long as new investors can be recruited, these ratings are potentially very powerful indicators of HYIP success or failure. From a Google search for “HYIP” issued in November 2010, we identified 9 aggregator websites to monitor (
    myhyip.com,maxhyip.com,iehyip.com,hyipranks.com,hyipmonitor.com,hyipinvestment.com,hyip.com, hothyips.com, and everyhyip.com).

    Replace "aggregators" with all the crypto-market websites you know and you understand immediately how this Ponzi of all Ponzis works ;=)
     
    murray t turtle likes this.