They have this zypto proposal atm.
They say, it is good to pay for it, because of the direct Hive purchase option + crypto payment. (zypto has no userbase, and very-very expensive, doesn't look like anybody will use it) What would be possible to reach without paying for it, by a well-known exchange, wallet or even crypto-payment gateway what are operating with much competitive fees, and have huge userbase.
HBD not listed anywhere, not available in any exchanges, wallets' EARN section. Not even the non-regulated, no kyc exchanges, wallets have it.
So there must be a general, core legal issue, danger with Hive, if not the HBD is that, then what else is that exactly?
I supposed, the LUNA and their 'stablecoin' kinda potential effect is that.
Actually, HBD is listed on some exchanges, just not many. Many people actually run bots trading HBD on those exchanges, because it is possible to profit from the "stable coin" value and temporary price variations on the exchanges (one of the most well-known examples of this is the HBD stabilizer).
But the reason HBD isn't listed on many exchanges isn't a legal issue, nor something related to Luna, etc. How do I know it has nothing to do with LUNA, etc? Because the same situation was true long before LUNA came on the scene (HBD has been around for many years).
The primary reasons it hasn't been listed on many exchanges is because 1) as a fairly "stable" stablecoin, it isn't particularly speculative, so it doesn't generate a lot of trading from speculators and 2) it doesn't generate a lot of volume that a stablecoin may get by acting as a stable source of value as traders temporarily seek safety between speculative buys because the existing supply isn't large and its not been used as a common-coin across markets on an exchange (think of the way USDT has had a trading pair with a lot of speculative coins on several exchanges).
So even if HBD gets listed on an exchange, its usually just listed either USD or a stable coin and maybe a BTC-HBD pairing. But for a stable coin to generate volume (= profit for an exchange), it has to have pairings across all the speculative coins.
What about the new Genius act?
It states:
'Stablecoin issuers with greater than $10 billion in market capitalization will be subject to federal regulation by the appropriate federal banking agency, while those with $10 billion or less can opt for state regulation if the state framework is substantially similar to the federal one.'
'Payment stablecoin issuers must maintain public redemption policies and ensure price stability relative to the U.S. dollar. They must also publicly disclose the composition of their reserves on a monthly basis.'
As just an average guy, I doubt Hive, HBD got clear legal background, especially not after this new law, especially not in the USA. How it can impact the usage in the rest of the world? USA authorities can make legal actions vs. HBD, even if it's used as payment only outside USA? Does any company use HBD as payment in USA? etc., etc.
I would love to hear more, detailed info about legal status of HBD, I guess, I am not alone who is interested in it, especially after this new law appearance.
Why is the legality such an interest of you? Do you have a company in the US? Do you plan to do something that needs clarification about HBD? Do you want to purchuse large amounts of HBD ... etc...Or just in simple terms why are you pushing so hard on this?
I have some staked HBD + Hive on exchanges. And the 2 are highly connected, 1 goes down, very likely the other will do the same.
So I simply care it's legal status, because I have it, and I don't know it, never looked at it, and looks like to me, nobody else 100% clear about it or just doesn't want to say it.
I read general stuff about stablecoins, and the not backed by fiat, rwa kind of, but even within them found stablecoins what are legally ok, acknowledged.
So just confused enough for asking the ones who should 100% know.
Who are these people? Me? Blocktrades?
The simple anser is Hive has the same status as the other thoulsands coins in the US. And as far as I know the US gov still hasnt passed any official regulation on crytpo coins and tokens... even the stablecoin act that should be the first official legislation is not live yet
:) Yes, I thought Blocktrades and you should know it 100% (you write about HBD.. :) )
Lets go back to Europe, as i think you are from Europe.
So this Mica says, stablecoins must be backed by fiat or commodities for getting permission.
Now, does it apply for a business, too? r they forced not to accept any non-regulated stablecoins? or do they still can accept for payment any algorithmic stablecoins, too?
Is it really banned (or will be banned in Europe), how the plenty gov agency droids run 'news' sites write it?
If that transition period experies at end of 2026, how it will affect small businesses, who still wanna use not regulated stablecoins, and how it will affect average person who just simply holds, for example HBD or any other not fiat backed SC?
I just see, that top guy now has 2m HBD, what would happen, if he would be kinda forced by law to pull it, sell all asap?
could go on. but even if you can answer for few would be great!
How do you imagine someone forcing by law a hive account to sell HBD?