Community Trust ScoreLikely Real
Charles Hoskinson: I just noticed that there has been some limitation of ADA on TRON liquidity at a mid-size exchange called E-Toro. And, it is a developing story and I had no idea that it is coming this way.
And, the reason being that IO does not handle liquidity and Exchange listing for cryptocurrency. That is done by the Cardano Foundation. And, it is important that people direct queries to them. But now it is important to talk about in general the regulatory reality that cryptocurrencies are facing and consequence is the systemic lack of clarity it is having on the industry.
First off, there are no liquidity problems. You gain some you lose some. For example, BitStamp just announced that they are listing ADA. It is much a large exchange by volume than eToro is for cryptocurrencies. Especially, in these trading pairs. So, some enter, some leave. But, right not in general there is no global regulatory standard on how to treat cryptocurrencies.
For example, the most stringent and strict regulatory structure for cryptocurrencies at the moment, most comprehensive is probably the nation of Japan. And, that is regulated by an entity called the FSA. And, there you have to go through an exhaustive process. And, the foundation working with the FSA went through 3 different applications and over a half million pages due diligence over a multi-year process to get ADA white listed in Japan and more exchanges are taking it up.
Queenbase were also a difficult process from my understanding to go through and a lot of oversight there. And, there are of course active conversations with other US liquidity providers. With that said, it is not really clear what is what. For example, in the United States there is a Law Suit against the XRP where the US government is exerting that the XRP is a security. In Japan, it has been treated as a currency. And, it is white listed. SBI and others are liquidity boosters in that ecosystem.
Despite the fact, that liquidity is still limited in the US, it is still in the top 10 level of trading. The best you can do to these things is to navigate on a case-by-case basis, on an exchange by exchange basis. I hope that the foundation publishes a coherent document explaining how they will go about this process. And what they do.
Community Reaction: The majority of my Portfolio is Cardano and I’m starting to lose my patience with the lack of progression. Every time we look like we’re getting somewhere we lose support and the majority of crypto pumps when Bitcoin does, but we just seem to stand still.
