Stellar Lumens (XLM) Forum with for newcomers and contributor's rewarded Check here




DID STELLAR (XLM) BREAK SECURITIES LAW WITH COIN BURN?
  • 4 Vote(s) - 2 Average
  • 1
  • 2
  • 3
  • 4
  • 5

#1
   
DID STELLAR (XLM) BREAK SECURITIES LAW WITH COIN BURN?

The Rundown
The Stellar (XLM) coin burn, announced last week, may bring attention to the asset as potentially breaking the US SEC’s securities law.


XLM BURN RAISED BURNING QUESTIONS

Reddit poster speculated that the decision to burn 55 billion XLM coins may attract the attention of regulators. The decision of the Stellar Development Foundation to decrease its funds resembles governance of stock issues, suggested the poster.

At the moment, the US Securities and Exchange Commission may be involved in multiple cases where a decision would be warranted on the security status of a token or coin. There are very few assets that have been cleared of the security status. And in most cases, the SEC sanction is a fine, as in the case of $24 million levied against Block.One and the EOS project.

Currently, digital assets are assigned security status based on the Howey test. The three conditions are that the asset is acquired for money; that there is a common enterprise, and that a promise of future earnings or a dividend has been made. In the case of Stellar, there is no verdict on whether or not XLM is security.

XLM in a way resembles Ripple’s XRP digital coin, which is still under scrutiny for being an unregistered security with the promise for future gains.

So far, XLM has been sold and exchanged widely on markets worldwide, with no exclusion for US-based buyers. The asset is still available on Poloniex and Bitfinex, exchanges with exposure to the US market.


STELLAR HEADING FOR DEBUT IN JAPAN

XLM looks to be listed on the Japanese crypto exchange Coincheck. The market operator, however, has denied having prior knowledge of the coin burn before listing the asset.

Quote:[Image: MxqbWKa6_bigger.jpg]
Stellar Reddit@RedditStellar


Japanese Cryptocurrency Exchange Coincheck to Begin Handling Stellar via /r/Stellar #xlm #stellar https://ift.tt/330D1Kx 
[Image: blFuxIKS?format=jpg&name=600x314]
Japanese Cryptocurrency Exchange Coincheck to Begin Handling Stellar
Posted in r/Stellar by u/ConnectAdaptProsper • 81 points and 18 comments
reddit.com


15
12:46 PM - Nov 1, 2019
Twitter Ads info and privacy

With its Japanese trading debut slated for November 12, Stellar’s coin may be exposed to a new price discovery process.

Quote:[Image: b8KZOl28_bigger.png]
ヨリコビール Yoriko Beal@yoriko09


Coincheck just announced that they are going to list Stellar Lumen (XLM) from November 12th.  It's a significant news
because this is the first token to be whitelisted by regulator after crypto regulation came into effect.

12
9:41 AM - Nov 1, 2019
Twitter Ads info and privacy

XLM has still managed to upstage XRP, by staging its Meridian conference to almost coincide with Ripple’s Swell. The coin burn also happened days before Ripple’s conference. The digital asset pumped up in price quite a few times but has failed to achieve another definite rally to get closer to its previous peaks near $1.



source https://bitcoinist.com/did-stellar-xlm-b...coin-burn/
by Christine Vasileva
Reply


Possibly Related Threads...
Thread Author Replies Views Last Post
  Stellar (XLM) Manages to Fetch 1.28% Hike in the Last 24 Hours crytocure 0 37 Yesterday, 09:42 AM
Last Post: crytocure
  Stellar (XLM) Initiates an Uptrend; May Form Another Higher Low crytocure 0 33 05-12-2019, 02:41 PM
Last Post: crytocure
  Stellar (XLM) Falls to Trade at the Previously Formed Support Around $0.055 crytocure 0 38 03-12-2019, 12:11 PM
Last Post: crytocure
  Stellar Kick Starts December on a Bullish Note; Lacks Stability above $0.057 crytocure 0 35 02-12-2019, 03:03 PM
Last Post: crytocure
  Stellar (XLM) Reflects Mild Bullish Vibes; Aims to End Week Above $0.060 crytocure 0 93 30-11-2019, 12:27 PM
Last Post: crytocure
  Stellar (XLM) Witnesses a Volatile Day; Hustles to Resume the Rebound crytocure 0 52 29-11-2019, 12:37 PM
Last Post: crytocure
  Ripple and Stellar Lead List of Worst Performing Crypto Assets Year To Date crytocure 0 59 29-11-2019, 07:07 AM
Last Post: crytocure
  A Tale of Dance between Ripple, Stellar Lumens & Bitcoin crytocure 0 51 28-11-2019, 10:30 AM
Last Post: crytocure
  Swiss crypto exchange SMART VALOR lists Stellar Lumens (XLM) crytocure 0 52 28-11-2019, 10:21 AM
Last Post: crytocure
  Stellar (XLM) Forms a Bearish Trendline After Surging Above $0.061 crytocure 0 46 27-11-2019, 03:03 PM
Last Post: crytocure



Users browsing this thread: 1 Guest(s)