Kinesis Stablecoins

[paid2]

FIRST POST IN THIS THREAD FROM A NON-OP USER!
 

 

That said, will Kinesis be impacted by the MICA regulations?
I don't know.
Do MICA regulations concern precious metals?
As Kinesis currencies are gold and silver, maybe not. Maybe they are considered just as commodities.
But gold and silver are also currencies, so maybe yes.

To be honest I asked it on X, replying to a post of BIS (Bank for International Settlement) that was mentioning MICA, but of course I got no response 

Thanks for your research.
Indeed, with MiCA we are all in a blur at different scales. 
We'll have to wait and see, as MiCA's Tier application for stablecoins will come into effect between June and December 2024. Perhaps the Kinesis project is still in a grey area regarding all this, but I hope they won't go as far as banning it in EU (although I wouldn't be surprised if they did...).

[Peter90]

Thanks for your research.
Indeed, with MiCA we are all in a blur at different scales. 
We'll have to wait and see, as MiCA's Tier application for stablecoins will come into effect between June and December 2024. Perhaps the Kinesis project is still in a grey area regarding all this, but I hope they won't go as far as banning it in EU (although I wouldn't be surprised if they did...).

AFAIK, within the partnership with Indonesia's government, Kinesis should take the role of facilitating foreign remittances i.e. money sent to Indonesia from Indonesian workers abroad. In this role, Kinesis avoided the whole regulation concerning banks precisely because their currencies KAU and KAG were considered commodities.
(Gold and silver are singular in that they have this double aspect, they are both commodities and currencies.)
Maybe the same will happen in Europe.

But most probably, Kinesis will simply work within the Mica regulation.

[Peter90]

Q1 - Q2 2024 – Quarterly Update

[Peter90]

Kiyosaki sits down with Kinesis to Talk ‘The Evolution of Money’

“I save gold and silver. I don’t save dollars.”

Kiyosaki speaks on how everyday people are accustomed to spending and saving in centralised, bank-issued fiat currency, commonly referred to as ‘paper money’.
“My mom and dad had no idea,” says Kiyosaki. The everyday person can’t necessarily see the difference between “real money and fake money”.

He continues, “… they hung on to paper again, their college degrees… People have been conditioned and programmed to take paper instead of the real stuff, which violates Gresham’s law.”
Gresham’s law states that when ‘bad money’ enters a system, people hold onto ‘good money’, which sees valuable assets like gold and silver, exit the system.

Kiyosaki explains how paper assets, such as Dollars, Pounds or Yen are subject to large-scale currency devaluation due to central bank money printing. He contrasts saving in fiat and paper assets with the ownership of hard assets, such as real estate and precious metals.

Kiyosaki comments, “I save gold and silver. I don’t save dollars”, an approach he has taken since his time as an army pilot in Vietnam, which coincided with Nixon’s closing of the gold window in 1971.


BRICS Central Bank Gold Demand

Discussing the BRICS nations, Kiyosaki highlights a growing division between the East and the West, with Eastern nations like Russia and China accumulating gold to create a currency backed by the precious metal.


The Evolution of Money

The conversation concludes with an evaluation of the Kinesis ecosystem; a sustainable and fair monetary alternative, that has already proven its potential in helping users globally counter the impact of a fiat-based economy.
Kinesis’ gold and silver-based currencies, KAU and KAG are backed by fully allocated, fully audited gold and silver, which is made universally spendable by card, through leveraging blockchain technology.

Kiyosaki voices his enthusiasm about Kinesis’ capacity to easily allocate a portfolio between gold and silver, spend on a debit card – and get paid every month through Kinesis’ innovative yields system.
He calls Kinesis a game-changer, deeming it “the evolution of money”.

timestabloid.com