A Big Shift in Cryptocurrencies | Catalyst for Flip & "The End"

hey everyone meet kevin here let's clear

up some fun that's going on regarding

binance and what this means for the

future of cryptocurrency

so you may have seen some kind of

clickbaity headlines lately

such as a binance is getting shut down

or

banned in the united kingdom they look a

lot like this

finance crypto exchange order to cease

uk activities

and in the financial times we even see

headlines or sections of the financial

times that say

things like this as part of the

regulatory action in

the united kingdom binance needs to

display by next wednesday on its website

that binance markets limited is not

permitted

to undertake any regulated activity in

the united kingdom now when i read that

i'm like wait a minute

what does regulated activity mean and

it's kind of important to ask

those sorts of questions because

regulated activity doesn't mean

everything because see here's an article

that actually tells us

that trading cryptocurrencies here we go

trading cryptocurrencies is not directly

regulated in the united kingdom

but other related activities such as

selling derivatives do require approval

so in other words what's really

happening here is the united kingdom is

withdrawing binance's ability

to offer options or potentially margin

trading

on cryptocurrencies in the united

kingdom and as a result of this

they'll be required to display that

notice on their website that hey we're

not regulated to basically do those

regulated activities

here in the united kingdom now of course

immediately there are a lot of folks who

like to post a picture of the binance

website which

currently says finance if you just go

there you can go there yourself

binance.co.uk

that's kind of like their.com right

finance.co.uk you get

binance uk coming soon sign up to

receive updates so it seems like they're

obviously revving up to provide services

in the united kingdom

the latest news is just that united

kingdom's regulators say hey well we

don't want

uh cryptocurrencies to be trading with

uh derivatives and margin in the united

kingdom

at least until we have certain

regulatory measures in place

and the specific regulatory measures

that everybody seems to be freaking

out about has to do with fraud

regulation

and money laundering regulation money

laundering regulation excuse me

now this is important i think most

people who are

investing in cryptocurrency don't want

cryptocurrency

to be associated with fraud and money

laundering and ransomware

but just because cryptocurrency is

associated with those things

sometimes just like regular money is

oftentimes more often than

cryptocurrency is

doesn't inherently make cryptocurrency

bad it's like just because

criminals use western union doesn't mean

that western union is a bad

organization it just means okay

criminals use this and

probably we gotta keep an eye on how to

make sure that

less criminals are able to use that and

that can call for more regulation

now usually in cryptocurrency when we

hear regulation we think bad

but here's the take from bloomberg take

a look at this bloomberg reported the

following

regulation is an undeniable growth

driver

said the co-founder of the exmo exchange

a uk registered crypto exchange i'm glad

the wild west phase for the crypto

market is almost

over this is a really interesting

argument i mean really what they're

saying here

is hey look yeah there have been issues

with cryptocurrencies being associated

with

with crime and rooting those out by

having a little bit more regulation

could actually be a good thing

because the last thing you want is areas

like well kind of what happened here

ontario canada

just saying hey as part of our

compliance efforts

the terms of use have been updated to

basically say that ontario

for binance has become a restricted

jurisdiction

and regrettably binance can no longer

continue to offer service to ontario

based users

right this is the worst case scenario

the worst case scenario is that

companies just

leave what you want is companies to say

hey government

we want to work with you we want to make

sure we can root out crime while still

having as many benefits of

cryptocurrency as we can

and still operating legally remember

that when we use

coinbase or gemini or blockfi

in the united states these are heavily

regulated already

centralized crypto brokers sofi

uses coinbase right coinbase highly

regulated

highly licensed they got to get licenses

in every state

and this has good things it gives us

as people as investors more confidence

that okay

we can invest and know that all of a

sudden we're not just going to get the

rug pulled out from us and

the company we're investing with is

going to get shut down now some of us

like that some of us like the idea of

the government having zero control and

power and there's d5 for that right

which is still pretty much wild westish

but

there's some really important bottom

lines that we got to think about when it

comes to what happened here

and this news and i'm going to break

those out very simply so

number one okay we're gonna draw these

out number one

more regulation in a good way more

regulation

to combat uh crime so we're right down

to combat crime and the reason we're to

say this

is because we don't want more regulation

that just makes our lives miserable or

makes it harder for us to

use cryptocurrencies right that's that's

not what we want but more regulation to

combat crime is not necessarily a bad

thing in fact

what does that usually lead to well

that's likely going to lead to

companies like jp morgan being able to

offer crypto services to their clients

in fact jp morgan already uses something

called the jpmorgan coin

to transact over a billion dollars a day

in their treasuries trades overnight

they're literally already using

something called a jpm coin

and this is guess what an ethereum

backed or ethereum based coin

so like banks already have clients

wanting to use this

banks are just looking for guidance in

terms of okay how can we

prove to our clients that we're getting

them into something that at least has

some level

of security if you will now i know

there's a big balance with that because

again people are like no no no

we don't want any government involvement

that's fine but this is what happens

when you have absolutely zero government

involvement

take a look at this and this is the

second problem so

you get this right here this is a crypto

regulation

uh or crypto assets disclaimer by the

regulatory agencies in the united

kingdom

and something that they mention here is

that crypto look look at how they're

wording this i mean it's intense okay

crypto assets are considered very high

risk and speculative investments

if you buy these crypto assets you're

unlikely to have access

to the fos or the fscs which are

basically agencies that protect you

if like your broker goes underwater

think of it kind of like

sipc insurance or fdic insurance right

these sorts of guarantees

uh then regulatory agencies that we have

here in the united states so that in the

event something goes wrong

we have those to go to we don't have

those for cryptos here

and they're making this clear in the

united kingdom that in the united

kingdom they don't either

but guess what happens if we have more

regulation that starts combating

potentially just the crime aspect

that really is i think overstated it's

really overblown anyway

but if we get a little bit more

safeguards in terms of

uh anti-money laundering safeguards or

the ability for us to snatch back

uh ransomware payments which is kind of

what the fbi did when they traced

bitcoin uh

you know the bitcoin ransomware payments

from the colonial pipeline

guess what ends up happening when we

have more regulation to combat crime

well the second thing that happens and

this is actually really big

is you end up getting more customers

you end up getting more investors or

people who today are really fearful of

cryptocurrency saying okay

so this is part of a diversified

portfolio okay i'm starting to warm up

to it

you warm up with bitcoin then maybe you

you go into the ether

and then maybe you go into ada or

something like that

and maybe you go over to block fi and

you deposit some of your crypto coins

and you get up to 250 dollars for free

by going to metkevin.com

bf you could do all those things but the

point is this

regulation fudd that we're seeing right

now is actually a very natural evolution

for a new investment vehicle this is

normal what we're going through

and it's not a bad thing if anything

it's a good thing

so uh that said it's very important to

remember that

this this eliminating of the wild west

so to speak just like the other crypto

broker mentioned

they mentioned it themselves isn't kevin

saying it right it's important to

remember that

the more customers we end up getting

take a look at this this is a pretty

cool chart here

crypto plans some banks are starting to

offer crypto services blue is yes

orange is no and gray is considering

look at this

jp morgan chase already does crypto

futures goldman sachs morgan stanley

they're already doing futures bank of

america already doing it

you've got uh considering at jp morgan

crypto products for wealth clients so

basically the rich folks hey

goldman and jp morgan want to stay

competitive citigroup's thinking about

it morgan stanley's already doing it

now so far they've gotten into no on

doing crypto custody accounts which is

generally what like coinbase or gemini

you're going to do anyway

so most of them have argued that

probably no on this

fine but the point is this is as of june

18th here from bloomberg

this is good we want more of this and

look at binance's activity here folks

because remember even with this partial

binance ban in the united kingdom you're

still going to be able to buy or sell

crypto in the united kingdom using

binance and look at the activity folks

we thought activity would go down as

price fell

and well kind of so far we have seen

activity go down this right here would

be a may so we are seeing

crypto volumes sort of decline here but

look at this insane

run here of monthly crypto volumes and

us dollar equivalent

this by the way a little bit of a red

flag right here for like coinbase

investors right

if crypto volumes go down that means

trading revenues go down at coinbase

which is not going to be too good for

coinbase so keep that in mind

but overall we're seeing i mean compared

to last year

look at the chart it's undeniable the

growth of crypto volume we're having and

it's a really

good thing so in my opinion this binance

fund

is actually very good for the future of

the crypto industry it's going to lead

to more proper and limited licensing and

regulation which is good

it's going to lead to likely more

customers in the crypto space which is

good and ultimately more customers in

the crypto space

means better and safer offerings better

and safer options

and ultimately a higher price for

cryptocurrencies

so for me i bought some more

cryptocurrency

at yesterday's dip as usual i send an

alert to all those folks in the stocks

and psychology money group

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thanks for watching and folks we'll see

you in the next one

you