New York Regulator Fast-Tracks 10 Cryptocurrencies

New York Regulator Fast-Tracks 10 Cryptocurrencies

The New York State Department of Financial Services has created a Greenlist of pre-approved cryptocurrencies for custody service and listing. Meanwhile, crypto-friendly SEC Commissioner Hester Peirce, also known as Crypto Mom, has been confirmed for another term at the commission. NY Regulator’s Cryptocurrency Greenlist The New York State Department of financial services (DFS), the Bitlicense […] Last week, I told you about automatic trading with its pitfalls and promises! Today we’re going to tackle another topic: fundamental analysis! As opposed to technical analysis, fundamental analysis is not based on charts … but on the elements around a project. For example, for Bitcoin, its limit of 21 million units is a component … The New York State Department of Financial Services has created a Greenlist of pre-approved cryptocurrencies for custody service and listing. Meanwhile, crypto-friendly SEC Commissioner Hester Peirce, also known as Crypto Mom, has been confirmed for another term at the commission. NY Regulator’s Cryptocurrency Greenlist The New York State Department of financial services (DFS), the Bitlicense… More
The post New York Regulator Fast-Tracks 10 Cryptocurrencies appeared first on BTC Ethereum Crypto Currency Blog.

The New York State Department of Financial Services has created a Greenlist of pre-approved cryptocurrencies for custody service and listing. Meanwhile, crypto-friendly SEC Commissioner Hester Peirce, also known as Crypto Mom, has been confirmed for another term at the commission.

The New York State Department of financial services (DFS), the Bitlicense regulator, has published a Greenlist comprising 10 cryptocurrencies for custody and eight cryptocurrencies for listing. “Any licensed entity may use coins on the Greenlist for their approved purpose(s),” the regulator explained.

The 10 cryptocurrencies are binance USD (BUSD), bitcoin (BTC), bitcoin cash (BCH), ethereum classic (ETC), ethereum (ETH), gemini dollar (GUSD), litecoin (LTC), pax gold (PAXG), paxos standard (PAX), and ripple (XRP). The same cryptocurrencies are pre-approved for listing, except for ETC and XRP. “If a licensed entity decides to use a coin on the Greenlist, it must inform DFS prior to beginning its use,” the regulator noted.

The Greenlist follows guidance proposed by the DFS in December last year, which includes proposals for coin adoption or listing options that the regulator wanted to make available to crypto entities.

The DFS will maintain an updated list of all cryptocurrencies permitted for crypto companies’ business activities without its prior approval, “as long as such listed coins had not been subject to any material modification, division, or change after their listing on the DFS webpage (the ‘Greenlist’),” the regulator emphasized.

Crypto companies can create a “coin-listing or adoption policy” tailored to their specific business model and risk profile. If approved by the DFS, the company would be able to “self-certify the listing or adoption of new coins in addition to those on the Greenlist, without any further approval from DFS.” The guidance regarding the adoption or listing of cryptocurrencies can be found here.

Meanwhile, the U.S. Senate has confirmed Hester Peirce, the crypto-friendly commissioner often known as Crypto Mom, for another term at the Securities and Exchange Commission (SEC). Peirce has been pushing for the approval of bitcoin exchange-traded funds (ETFs). In February, she announced her “Token Safe Harbor Proposal,” which she described as “a proposal to fill the gap between regulation and decentralization.”

What do you think about the DFS’ crypto Greenlist? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Source: procurementnation.com

Author: Mark Peet


Fundamental Analysis, Profitable Patience? - Cryptocurrencies

Fundamental Analysis, Profitable Patience? – Cryptocurrencies

Last week, I told you about automatic trading with its pitfalls and promises! Today we’re going to tackle another topic: fundamental analysis! As opposed to technical analysis, fundamental analysis is not based on charts … but on the elements around a project. For example, for Bitcoin, its limit of 21 million units is a component of fundamental analysis, not technical analysis. And we are going to discover together the ins and outs of this discipline. Come on, make yourself comfortable, with some freshly squeezed orange juice (in the current heat, it feels good), and let’s go!

First of all, what is fundamental analysis? What is behind this notion?

Finally, fundamental analysis is all the criteria that theoretically evaluate the value and the solidity of a project. In this sense, it is categorically opposed to technical analysis (although the two may be complementary). And more generally, fundamental analysis is often associated with the investment, while technical analysis is more associated with trading.

Indeed, when you trade, you perform technical analysis, spot opportunities and apply your strategy. To decide, you don’t need to know who is behind a particular project, or to know the roadmap of the latter.

Simply, a bullish trading pattern, and off you go, you are stepping into this crypto project that you might not even have known about a few hours ago. And that’s okay! Indeed, in trading, the concept of time is not the same as in investment. Trading allows you to quickly enter and exit one asset, before moving on to another. You don’t care about the latter’s long-term future.

However, when you want to evaluate a project over the long term, estimating its potential at 2/5/10 years, relying on technical analysis can be more complex. And that’s when fundamental analysis comes in.

During this analysis, you will comb through many criteria:

  • Initial problem
  • Response provided by the project
  • Team
  • Finance
  • Roadmap
  • Product already supplied
  • Token metrics
  • Community
  • Marketing
  • Competition

This list is not exhaustive and there are obviously other criteria for evaluating a project. Nevertheless, here you have a good starting point!

INITIAL PROBLEM. Many projects get into the dance saying that their idea is revolutionary and that everyone is going to tear it up!

I won’t hide it from you, I sometimes have these kinds of thoughts when I have ideas for Cryptodidact. But in the end, it is not the project leader who decides, but the community.

And if you want the community to embrace your project, then it will need to address an immediate problem! There is no point in saying “I promise you, this is fantastic, it will change your life! “. If the user doesn’t see the need, they won’t even try.

RESPONSE PROVIDED BY THE PROJECT. Well, responding to a problem is good. Very well even ! But then you also have to answer them correctly.

If the problem is ” I am hot “And that your project is a radiator, unfortunately I have little hope for you.

Likewise, there is surely little chance that you will be the only one trying to answer this problem. It will therefore be necessary to do better than the others, or at least, different. But we’ll come back to that later!

TEAM. One of the first aspects of a project that you have to watch is the team behind it!

When you look at the people at the helm of the project, there’s no point in being too harsh and wanting to see “ex-Google” or “ex-Facebook” to trust (even if that’s the icing on the cake).

The main thing to watch out for is that the track record is not damaging or questionable. In fact, it is by observing a project team that one can often detect a SCAM.

ROADMAP. The roadmap provides a multi-year vision of what will become of the project. And this is important! We don’t forget the basic objective: to know whether investing for several years seems interesting or not.

A project that would be unable to tell you what he thinks he is doing and where he thinks he will be in 2 years, it is a project that sails in the fog. And your money, he doesn’t like it!

PRODUCT ALREADY PROVIDED. Knowing where the project is going in 6 months, 1 year, 2 years is good. It’s important even. But you can also build on what already exists! Looking at the product already provided allows you to assess the skills of the team, and to better imagine the future.

FINANCE. This is not necessarily the most obvious point to control, I can imagine. However, by educating yourself well, it is possible to find here and there information that can give you clues.

The finances of a project are important. If ever the project is on the verge of bankruptcy, you can imagine that it is not necessarily this one that you want to bet on for several years …

COMPETITION. We have already started to discuss this a little above. But competition is obviously a parameter to be taken into account.

It is important to situate a project in relation to others:

  • Is he ahead? Late ?
  • Are they doing the same?
  • How does it stand out?
  • On the contrary, what is it missing?

Answering these questions will allow you to better see where the project is located, its potential, and even, will allow you to find a better project in which to invest!

TOKEN METRIC. The metrics of the token you are analyzing are important. You can also hear about “tokeneconomic” or “token economy”. The idea here is to look at how the token is going to be used, distributed, but also issued.

For example, a project where the token is 90% controlled by the initial team, this can be dangerous. Indeed, if ever the team behind the project lacks funding, for example, its members could use the tokens held to resell them massively, thus creating significant selling pressure. And that’s never a good sign for the price.

Also, it can be interesting to see how the issuance of this token is handled. Indeed, a token that will be issued indefinitely, and at a very sustained rate, may have problems maintaining its price.

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It is therefore important to verify that the projects in which you invest have viable metrics on the temporality of your investment.

COMMUNITY. Surely you must have noticed it already: in the cryptocurrency ecosystem, the community does a lot. Look at all the cryptocurrencies in the top 10 marketcap. You will notice that they all have their strong supporters.

A project that has no community behind it is a project whose token is not going to be requested. And the price will not go up alone …

There is a need for a community in order to create excitement and generate a mass movement leading to the adoption of the token and the project in question!

MARKETING. Today there are more and more cryptocurrency projects. At the time of this article’s release (early August 2020), there are no less than 5,800 according to CoinGecko!

Among this mass of projects (most of which, you can imagine, are doomed to disappear), the only way to be spotted is therefore going to be marketing.

Indeed, it is the latter that will distinguish you from the hundreds of other tokens created on the same day.

I’m not saying that marketing is the main thing that has to make a project run. Far from there. By the way, that’s why I put this point last. But, unfortunately, even with the best tech team in the world, it will be difficult to break through without a little marketing.

As you will understand from this article, fundamental analysis and technical analysis are fundamentally different fields.

And that seems normal since the objectives behind these analyzes are very different. Where technical analysis will allow you to find trading opportunities, fundamental analysis will instead offer you investment opportunities.

It is therefore the time preference that will guide your choice towards this or that analysis.

For example, personally, I have Bitcoin in my very long-term wallet. This is not following a technical analysis, but a fundamental analysis!

On the other hand, the STRAT (Stratis project) that I own right now come from a technical analysis, and I plan to sell them back as soon as possible.

Fundamental analysis does not convince everyone. It is often criticized for its inaccuracy. Indeed, analyzing a project is not an exact science.

Sometimes all the signals will be red, and despite everything the project will be successful. And sometimes, even with a project that has it all, failure will be inevitable.

Also, unlike technical analysis which requires you to read a chart, and “voila,” fundamental analysis takes longer. So all the information and answers you are looking for will not be in the same places. You will need to read sites and sites, dozens of marketing pages, roadmaps and interviews with project members …

Sometimes fundamental analysis seems to take a lot (too much?) Of effort for the end result.

But rather than wanting to pit technical analysis against fundamental analysis, why not see them as complementary tools?

Indeed, with different time preferences for each, they can help at different levels.

For example, you can find a list of interesting projects to follow through fundamental analysis … then wait for the best possible entry and exit through the technical analysis behind!

So the two can be complementary, and in my opinion, that’s how they should be seen.

This sixteenth chapter of the Trading Tribune ends here! Hope you still enjoy this series!

Fundamental analysis is a particularly powerful and often forgotten tool by traders and investors. Or even worse, it is a tool put aside because of its non-technical aspect.

And yet, it can save you a lot of time, and money too.

From next week, the Trading Tribune will tackle a new turn. Indeed, we are going to tackle models seeking to predict the price of Bitcoin in the years to come… And you will see, the numbers will quickly become dizzying!

Either way, I hope you enjoy reading all of this, and that you follow this Tribune carefully to the end!

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See you soon !

Bitcoin, cryptocurrency and Blockchain influencer and popularizer. My goal: to make these complex notions accessible with passion on a daily basis on my networks.

Source: personal-financial.com


New York Regulator Fast-Tracks 10 Cryptocurrencies

New York Regulator Fast-Tracks 10 Cryptocurrencies

new-york-regulator-fast-tracks-10-cryptocurrencies

The New York State Department of Financial Services has created a Greenlist of pre-approved cryptocurrencies for custody service and listing. Meanwhile, crypto-friendly SEC Commissioner Hester Peirce, also known as Crypto Mom, has been confirmed for another term at the commission.

The New York State Department of financial services (DFS), the Bitlicense regulator, has published a Greenlist comprising 10 cryptocurrencies for custody and eight cryptocurrencies for listing. “Any licensed entity may use coins on the Greenlist for their approved purpose(s),” the regulator explained.

The 10 cryptocurrencies are binance USD (BUSD), bitcoin (BTC), bitcoin cash (BCH), ethereum classic (ETC), ethereum (ETH), gemini dollar (GUSD), litecoin (LTC), pax gold (PAXG), paxos standard (PAX), and ripple (XRP). The same cryptocurrencies are pre-approved for listing, except for ETC and XRP. “If a licensed entity decides to use a coin on the Greenlist, it must inform DFS prior to beginning its use,” the regulator noted.

The Greenlist follows guidance proposed by the DFS in December last year, which includes proposals for coin adoption or listing options that the regulator wanted to make available to crypto entities.

The DFS will maintain an updated list of all cryptocurrencies permitted for crypto companies’ business activities without its prior approval, “as long as such listed coins had not been subject to any material modification, division, or change after their listing on the DFS webpage (the ‘Greenlist’),” the regulator emphasized.

Crypto companies can create a “coin-listing or adoption policy” tailored to their specific business model and risk profile. If approved by the DFS, the company would be able to “self-certify the listing or adoption of new coins in addition to those on the Greenlist, without any further approval from DFS.” The guidance regarding the adoption or listing of cryptocurrencies can be found here.

Meanwhile, the U.S. Senate has confirmed Hester Peirce, the crypto-friendly commissioner often known as Crypto Mom, for another term at the Securities and Exchange Commission (SEC). Peirce has been pushing for the approval of bitcoin exchange-traded funds (ETFs). In February, she announced her “Token Safe Harbor Proposal,” which she described as “a proposal to fill the gap between regulation and decentralization.”

What do you think about the DFS’ crypto Greenlist? Let us know in the comments section below.

The post New York Regulator Fast-Tracks 10 Cryptocurrencies appeared first on Bitcoin News.

https://news.bitcoin.com/new-york-regulator-fast-tracks-10-cryptocurrencies/

The post New York Regulator Fast-Tracks 10 Cryptocurrencies appeared first on BTC Ethereum Crypto Currency Blog.

Source: cryptomoneyteam.co

Author: By TeamMMG


New York Regulator Fast-Tracks 10 Cryptocurrencies


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