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#1 Cryptocurrency Airdrops at Serious Risk of Regulatory Scrutiny

  • SEC jumped on a company that gave away free airdrop and hit them with a cease and desist.

#2 UK insurance market leader Lloyd’s of London will insure a crypto custody platform by US-based custodial firm Kingdom Trust

  • Insurance companies don’t understand crypto, but they may very well be a dream situation for insurance companies.

#3 SEC to loosen the requirements to become an “accredited investor”?

  • They are looking into ways to streamline the process.

#4 Japan’s regulatory body FSA putting some new rules in place for crypto exchanges, to protect the consumers from scams & hacks.

  • Changed to increase the amount of questions you must complete from around 200 to around 400.

#5 Hackers Breach MEGA Chrome Extension To Steal Crypto Private Keys

  • Kevin will be adding this to his ongoing list of hacks.

#6 Goldman Sachs drops bitcoin trading plans for now | Business Insider

  • Most institutional players were happy about this.

#7 EU Lawmakers Weigh ‘Standard’ for ICO’s Under Crowdfunding Rules

  • Meeting going on today with EU finance ministers that may bring some talking points, but not any real regulations. This is for them to learn and discuss.

#8 Someone Took Out a $74 Million Short on Bitcoin Right Before the Drop

  • This drop was coming.

#9 ShapeShift Ends Anonymity With Announcement of Mandatory KYC Data Collection

  • “I told you so.”

CoinMetro Community Questions from Reddit

  1. Last AMA you said there were no significant regulations yet in crypto. By now, aren’t you considering the -non existing- regulations a bit too much? You can take them into account as much as you can and meet and converse with 100s of regulators until 2075. But at some point, you will have to cut the ribbon. Probably next month, another unforeseen regulatory hurdle pops up anyway.
  • CoinMetro will make sure they license fully. The future is what counts, and being compliant is the way to create a long lasting business.

2. You said last AMA that during Q4 CM will start to bring “pieces of the infrastructure” live. By pieces do you mean simplex, intermediate and trade view? What order will these pieces be launched in?

  • Similar to the Beta, it will be Simplex, then intermediate, then tradeview.

3. At what point, relative to things going live, will XCM be tradeable?

  • XCM will be tradeable right before launching publicly. It needs to be tradeable in order to be fully live.

4. When you’re trading margin you want the books tight, will you be looking to bring on more liquidity providers before you launch margin trading?

  • The books are already quite tight, but yes before margin trading is pushed, the team will do what needs to be done to make the market function smoothly.

5. At the moment from what I understand CM is using custody solutions like BitGo for wallets. Is CoinMetro going to be using custodian services exclusively or will CoinMetro have their own wallets for some coins?

  • CoinMetro does use BitGo, but do not use their custodial services.

6. Will coins that aren’t businesses e.g. Dogecoin, be listed since obviously they can’t go through the standard listing process and don’t have CEOs etc. On a side-note I think Dogecoin would be a very good coin to list, noobs love it because it is “cheap” and fun, same from a regulatory point of view as Bitcoin and it’s been getting great volume recently.

  • Definitely possible.

7. Would you rather be remembered as:

1) a guy who made a very lucrative and respected financial platform or

2) a guy who helped shape the regulatory framework that transitioned crypto towards a mature phase

  • If Kevin had to pick between the two, then the second.

8. So, Kevin, what’s up?

  • Meeting with many different projects in the Tallinn office, sort of like a “Pre-ICO Express”

9. Hi Kevin, if there is a last flash sale again, will the contributor be able to buy XCM token directly using euro? For a non-resident of SEPA country, how can this be done?

  • Not if it is set up in Hong Kong again.

10. Will we have margin trading on day 1?

  • No.

11. If someone registers right now and then contributes in the flash sale. Would they get closed beta access? Or have to wait until public anyway?

  • It depends.

12. The fee system (paying fees in XCM even when you don’t have any) is quite unique. Did you patent this system? I haven’t seen any other exchange plan to use it so far.

  • Not patented yet, but this will be looked into by the legal team soon.

13. What’s the current sprint goal?

  • Team really likes Trello.

14. Hi Kevin, I’ve had a look at the ‘Trade’ (TV3) platform mockup and it looks good however it seems this platform only caters to margin type trading. Are we going to have a trade platform (that looks like the mock-up) that caters for exchange type trading (like Binance style trading).

  • Does not cater to margin trading.

15. Can you point out what makes CoinMetro to stand out from the crowd and why? In plain and simple terms please :)

  • Tokenized Asset Management does not exist in this form yet in the market.

CoinMetro Updates

  • Development, marketing and support are starting to ramp up.

Live AMA Questions

The Goldman news was actually fake news. They only plan to delay it, not scrap the whole thing

  • Need to control risk, and that does not change with crypto.

There are quite a lot of issues on the beta, even with the regulatory set back I feel Q4 might not be possible? Thoughts on this?

  • Collecting feedback is very important.

One of the proposals was to cap token sales at 8mil EUR. Do you think the days of very large token sales are over?

  • Capping is stupid.

Can we safely store our tokens in our account in the Homepage?

  • Tokens have not been minted yet, so they are completely safe at this time.

What is it still needed to open the exchange? Any licenses or just development? What is needed?

  • Some development, but licensing is already obtained.

There’s a general downbeat mood about prices at the moment… Are you more concerned about a lack of adoption? Without adoption, people need to cash out for services which leads to sell pressure etc.

  • Trying to get adoption and get Starbucks to accept Bitcoin is not a great solution. This is because there are still other options to purchase these things. The only people who would use such are people who already own Bitcoin.

Will the prepaid card launch this year?

  • Yes, it is still on track to launch this year.

The AMA video’s garner a few 100 viewers altogether. While any miseducated idiot shilling a crap coin gets thousands easy. Does it bother you that your audience is much smaller? No plans to push some marketing behind the video’s? Since such transparent and informative weekly video’s are a rare gem in the world of crypto.

  • Yes, it bothers Kevin but not because he wants the exposure. It’s because people get hyped up and might not be learning about crypto in a productive way.

The Beta is looking great… when will an advanced version be ready?

  • Simplex and Intermediate is out. Trade view should be out in the next 7 days.

Hi Kevin, will STO tokens be tradable on CoinMetro? e.g. TOWER Holdings will offer a token sale for re-development of an Island Resort on the Great Barrier Reef called GKI tokens, massive project.

  • They are all securities.

When moon?

  • Kevin will wear an astronaut suit for the AMA when we reach it.

That’s your lot! Please join us again next week on CoinMetro’s Facebook or YouTube channel at 2PM GMT for another round and make sure you submit your questions to the CoinMetro Reddit page!

If you want to get involved with the community, check out our Telegram Group — active 24/7.

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