J5 will deal with money laundering in the crypto market

[pokxon]

The tax authorities of the United States, Britain, Canada, Australia and the Netherlands have created an international unit J5, which will deal with combating money laundering through crypto-currencies
Government concerned about money laundering. They are taking positive steps to help the crypto market grow stronger
What do you think about this ?

[tamango]

I think that this is a crucial argument for making cryptocurrency be approved by every government. The problem is to merge regulation and transparency with privacy and anonymity that is far than easy to do...

[CryptoZenWorld]

Yes, this step might have both positive and negative impact. If they take to start such kind of step soon, then price of coin will be less enough than the present price. Most of The investor can loss their investment due to the money laundering act. But if they take the step without bringing any harm to the previous crypto investor, then it might be a great step for making the crypto market strong and more stable.

Thanks

[Danus]

This in fact will harm the crypto currency and their owners. In essence, the government simply wants to keep everything under its control 

[IyemRoker]

I think that this is a crucial argument for making cryptocurrency be approved by every government. The problem is to merge regulation and transparency with privacy and anonymity that is far than easy to do...

I agree with you, but unfortunately yesterday, SEC refused Bitcoin as an ETF.
and that makes the price of Bitcoin drop in price to $ 5,800.

[owmivmen]

I strongly support the regulations applied to reduce money laundering cases. I saw crypto being used for money laundering because crypto was difficult to investigate for money laundering.

[CryptoZenWorld]

I think that this is a crucial argument for making cryptocurrency be approved by every government. The problem is to merge regulation and transparency with privacy and anonymity that is far than easy to do...

I agree with you, but unfortunately yesterday, SEC refused Bitcoin as an ETF.
and that makes the price of Bitcoin drop in price to $ 5,800.

Hi, The refusal is good for all investor and also it will make cryptocurrency one step ahead. If you read this article properly, you could understand the reason behind the matter of refusal.

Cboe said it could monitor trading on the Gemini Exchange, a digital-currency trading venue owned by the Winklevoss twins, to know whether manipulation affected the asset’s price. But the SEC determined that Gemini isn’t large enough to provide that assurance. And as a digital asset exchange, Gemini doesn’t offer the investor protections that securities and futures exchanges provide, the SEC said.

“[The SEC is] waiting to see if a regulated market of significant size is going to develop,” said Michael Mundt, an attorney who advises ETF issuers at Stradley Ronon Stevens & Young, LLP. “Their statement suggests there is a long way to go.”

Cameron Winklevoss and Cboe President Chris Concannon said in separate statements that they are studying the SEC’s ruling and won’t give up on seeking approval for a bitcoin-linked ETF.

“Given U.S. investors are clearly already accessing these unregistered financial products, we also believe that investors are better served by products traded on a regulated securities market,” Mr. Concannon said

The four-member commission voted 3-1 to reject the proposal. Commissioner Hester Peirce, a Republican, said in a dissent that the SEC’s decision may have the opposite effect of what regulators want.

The denial forestalls a way for many institutional investors to trade bitcoin, she wrote. That means the market remains prone to being influenced by proprietary traders and individual participants.

“More institutional participation would ameliorate many of the Commission’s concerns with the bitcoin market that underlie its disapproval order,” Ms. Peirce wrote.

The commission’s decision on the Winklevoss’s ETF doesn’t by itself affect other proposals for bitcoin funds that are pending before the regulator, but Mr. Mundt said it doesn’t bode well for them.

Bitwise Asset Management Inc., Van Eck Associates Corp. and startup SolidX Management LLC have all applied to the SEC to launch bitcoin ETFs.

Source: https://www.wsj.com/articles/sec-rejects-winklevoss-bitcoin-etf-proposal-1532641106

Thanks.

[Doctor]

I think that this is a crucial argument for making cryptocurrency be approved by every government. The problem is to merge regulation and transparency with privacy and anonymity that is far than easy to do...

I agree with you mate, this is a crucial argument for making cryptocurrency be approved by every government. I hope It will be good affect.

[Doovla]

They are just creating organisation that will allegedly forbid action and in fact they blur the same. Either way, good thing is crypto staying strong and attractive year after year.