MAJOR UPDATE On USDC vs SEC!!
Also, Morgan Stanley lets the cat out of the bag of stable coins and the Fiat banking system, and how is the EU going to regulate crypto if you guys want to learn more, you got to watch this video. If you are interested in these daily updates – and you havent done so – please hit subscribe and also hit the like button. Let us know that you appreciate these updates. My name is Heidi. This is crypto tips. If you want to know what were doing with our cryptocurrencies and why get access to trade alerts, portfolio updates Market updates, all that good stuff check out a link for the CT Club it is down below in the video description. So Circle has not been issued. A Wells notice, it has been speculated by many people, myself included that what the SEC has done for busd. Well, why dont? They do the rest for all stable coins, usdc included and their company Circle uh now its they have not officially been issued a Wells notice, but what Circle has done is they have issued a special notice to the SEC? Its called a reversal Wells notice, basically going on uh the offensive theyre issuing a notice to the SEC saying these are all the ways that we are complying. We dont have any violations against the compliance requirements for our business, and so now what Circle has essentially done at the very least, has given themselves more time to breathe and to operate freely, because now there is a court case, basically against Circle and the SEC.
Where court has to find if the SEC is indeed over, reaching uh in their terms of lets, say b? U s and specifically with circle as well. So, basically now the SEC has to answer to these claims of circles, saying that Circle again is saying that they have not violated anything. So is this going to put Gary Gensler in his place? Is he going to continue on this Crusade against stable coins? Why are they targeting stable coins? Why is it that every uh new proposals of regulations coming out of the U.S and the EU? Why is every language pertaining to cryptocurrency, very vague, except for stable coins, theyre very specific in their theyve identified stable coins as Enemy Number? One against the Fiat banking system and thats exactly what Morgan Stanley actually has come out and said that stable coins play a a really important role in cryptocurrency trading, theyve been a god Center for cryptocurrency Traders. They give you a little bit of an oasis from the price volatility, often seen by crypto uh, and in that the Morgan Stanley says that stable coins have the potential to disrupt the Fiat banking system. They have. The potential to compete actually is literally what he said. Potential to compete with the Fiat banking system and my friends, why shouldnt there be competition in currency? Why shouldnt you have an option to facilitate payments in whatever currency that you choose. Why are you forced to use one over another uh, and that is blaringly obvious answer for many people? Is the Fiat banking system or cartel, as many people like to call it is very powerful, has a lot of interests and in that power is run by the currency that they create, that we are all dictated by in one form or another.
So the fact that theres suddenly competition for the first time in centuries uh it should be well uh, welcomed by all of us retail investors, all of us who arent Central Bankers. Basically, we should be loving in crypto right now, and so the fact that you know it is indeed competition, weve all known this for years, but theyre now finally waking up to and actually making it more public, so uh welcome to crypto guys now also, I need To talk about this, theres been a report now coming out from Freddie Mac, saying that within one quarter, 11 of more consumers are now concerned with the ability to make their housing payments from 37 to 48 percent youre. Looking at half of the people who own houses in the US are now concerned about being able to afford their house that my friend, in addition to being competition to the Fiat banking system and to you, know a clap back to the traditional Financial system that many People are subjected to and and failed by time and time again, this is a perfect example. 48 of people now dont know if they can afford their houses. Why inflation is a nasty mother that uh Keynesian economics love to precipitate down to you through their centralized control? Over the economy and through their printing of money, all these things that they love to do best and you are subjected to it. You cannot vote these people in or out.
You cant object to the decisions that they make based on. You know regarding the money that you live on, that you are reliant on unless youre completely off the grid. Unless you collect your own water and you grow your own food and you have your own local barter system, you are subjected to this in one way or another, and you should care and thats why you should care. Also that crypto exists. It is an opt out. It is a freedom tool and thats what this channel is going to continue to remind you. Also. We have news that binance and huobi have both Frozen about 1.4 million dollars worth of crypto that are allegedly tied to North Koreas, Kim Jong un guys Kim Jong un was used in finance and UOB. I dont know, but basically theres some ties there Boogeyman again uh, but this is not in an endorsement for hackers or you know, illicit activities or people who are bringing harm to others. But it is a an example that you know: take your coins off your off. Your exchange take your own custody Im, not saying that were all on the same level as these Hackers from North Korea by any means, but one day, its Kim Jong un the next day. It could be you for whatever reason you know, maybe you made a trade and now all of a sudden those coins happen to be in your wallet and now they think that you are a part of that as well.
Uh, keep your coins on your own wallet and be sure to use decentralized exchanges whenever you can and use a wallet that you control, so you can send and still gain access to your crypto. If you want to now also getting back to whats happening with the EU, they have launched a regulatory sandbox, theyre testing out different ways and and different applications of regulating cryptocurrencies trying to see how that would affect it one way or another how people might be reacting To it, but, most importantly, what theyre trying to do is they want to see how everyone else is regulating crypto too, because, like everyone else around the world, whos engulfed in the traditional Financial system, whos paid off by many Center bankers and need to serve those special Interests they dont know what crypto is crypto doesnt fit perfectly into their little traditional Financial box and more that, more importantly, I think that they want to make sure that theyre not overreaching like the SEC, is doing most recently theyre, not trying to reveal all their cards. They need to play it by. You know, play it by ear a little bit uh. You know slowly slowly, overreaching not too fast, because then people get suspicious and then people dont trust you anymore, and then people actually run more into the arms of crypto, which, if you know this channel, we are bullish on crypto and we are bearish on Fiat as It should be um.
Thank you guys for tuning in just a little short news update for you again. My name is Heidi. This is crypto tips. We do daily videos to get your daily fix of all things. Crypto make sure you hit subscribe, and I appreciate it.