Big changes ahead for polo and it can really go either way from this point.
The only way is up.
It's surprising to see so many people who disagree. I think many people don't understand the gravity of what's happening. Goldman Sachs is heavily invested in Circle. Circle is a regulator's golden boy, down to the BitLicense.
Wall Street is investing in shitcoin exchanges now. Pinch yourself, this is not a dream!
Poloniex is going to be the most legitimate, regulated broker for tokens. They're registering with the SEC, with FINRA, and are going beyond money transmitter licenses. It's where serious altcoin/token investors in the US are going to go.
I really wonder what Poloniex has to offer that Circle wanted.
Market share. Same reason that Bank of America is patenting a cryptocurrency exchange system. What makes Poloniex so valuable is the quid quo pro with the SEC:
Here's a slide from a Circle presentation that was leaked this morning. Check out the second section in particular:
Basically, Circle told the SEC that they would turn Poloniex into a fully registered/licensed broker-dealer. In return, the SEC said they wouldn't pursue enforcement actions for any past behavior. Pretty sweet deal.
Basically, Circle told the SEC that they would turn Poloniex into a fully registered/licensed broker-dealer. In return, the SEC said they wouldn't pursue enforcement actions for any past behavior. Pretty sweet deal.
The SEC is establishing the "good actors" in the space. Poloniex is now a "good actor."
I hate to say it, but we're probably going to see some regulatory actions against the "bad actors" later this year.....