Latest / The Paul Barron Crypto Show / Tokenized Assets Begins June 30th | NEW U.S. Crypto Bills Introduced!

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Tokenized Assets Begins June 30th | NEW U.S. Crypto Bills Introduced! · The Paul Barron Crypto Show

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  We are about to see one of the biggest changes in the financial system we've
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  ever seen before. Today we're going to be breaking all that down and it
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  involves crypto digital assets, token is securities. Don't want to miss it.
• 0:16
  My name is Paul Barren. Welcome back into tech path. Let's start by
• 0:20
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  below and get one hundred dollars funding reward to get started. All right,
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  Let's go into a couple of points here I want to hit on, and
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  that, of course, is the legislative framework that seems to continuously brew here.
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  Let me kind of zoom in on this one right here. June fifth,
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  that's this week we have the next generation infrastructure, how tokenized of real
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  world assets will facilitate efficient markets. Now we've got a lot to talk about
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  here, because this is getting into Carlos Domingo, he's been on our show
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  before. This is the co founder and CEO Securitize, running the biddletoken tied
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  to Blackrock, And what they're going to be talking about is additional legislation that
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  could be brewing up as well. And part of this is going to be
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  the development of token ised securities and derivatives products. So that's another one in
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  addition to FIT twenty one. So think about FIT twenty one but for tokenized
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  assets. Then they're also going to be talking about this new HR eighty four
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  to sixty four, which is the Tokenization Report Act of twenty twenty four.
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  Also, last up before I go to the next tab over here is Professor
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  Hillary Allen. You guys remember this name. This is the professor of law
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  American University, Washington College of Law. Okay, remember that name, because
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  the last time we featured her was in this video right here, and that
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  was all the way back a year ago when Filecoin basically said we know you're
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  anti crypto. Here's all the problems with your statement, and they basically just
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  dismantled our arguments left and right. Well, that's not the end of it.
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  She's going to be coming back to Capitol Hill to again go directly against
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  crypto, and of course she's got to be on you know, Senator Warren's
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  position here. She is right here over on X pessimistic financial futurist, meaning
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  I don't believe in crypto. This is really what it should have said.
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  And I want to play a clip from a podcast that goes in further.
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  This is a very interesting podcast, so bear with me on this. Listen
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  to what she has to say right here. This is a very important piece
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  because this is her positioning on crypto. Take a look, what kind of
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  regulation do you think should be put in place. I mean, the first
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  thing I would like to see is sort of a blanket ban on any banks
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  or other sort of institutional financial players getting into the crypto space. There is
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  nothing in crypto that really makes it a better solution for people who need cheaper,
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  faster payments. So you don't see it as opening up of financial opportunities
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  to people who at this point, you know, don't really have access to
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  the traditional financial system. No, because to get a loan in crypto,
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  you have to already have crypto and stake that crypto for the loan. So
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  that's not going to bring new financial services to people who don't already have capital.
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  You know, if you need to be able to make payments quickly,
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  you don't want to have to go through exchanges who are going to charge you
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  significantly to convert your fee into crypto and then back again. And not even
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  that, there's not even any productive capacity. Like if you buy a share
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  in a corporation, you know they make something, or they build something,
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  or they sell something. You know, there is plant, there are employees,
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  et cetera. And if that corporation were to fail, then you could
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  liquidate everything and you know, you might not get much for your share,
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  but there's something there, whereas most crypto assets have nothing behind them, and
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  so there are values entirely dependent on someone else being willing to buy that asset
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  from you. Okay, well there's a lot to unpack there. Of course.
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  First of all, almost every point she was hitting on the loan origination,
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  that you've got to carry an asset to get a loan upon it.
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  Yeah, that's called banking law. I mean, no bank is going to
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  give you a loan without a securitized asset behind it. Whether it's real estate,
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  car, it doesn't matter if it's bitcoin, Okay, that's an asset.
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  Yes, So that's the first fallacy. The other thing around speed of
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  transaction and openness in terms of people who don't have access to traditional banking system
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  that's all over the world. We already see that there are emerging countries there
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  are a problem and is a problem right now in terms of speed of transaction.
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  We already see this every day here, even in the American banking system,
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  one of the most modern banking and financial systems the planet that still have
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  ach slowdowns which take you from one bank to the next bank a day or
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  two in some cases. And remember don't forget they don't work on the weekends.
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  So all of those of course slow the entire financial system down, which
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  creates this whole system around business called float, which many businesses operate on.
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  So that's another big factor. The other thing about the idea that you couldn't
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  send it crypto from one wallet to another without the use of a middleman just
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  simply put her in a position that she absolutely does not know what she's talking
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  about when it comes to crypto. So all that being said, let's take
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  a look at where real world assets are actually going. We'll go right up
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  here to the top one, and that gold one is right there at the
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  top. If you can't see that, let me kind of zoom in on
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  that for you guys just a little bit. That's bittle. Well, that
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  is Securitize. Security is going to be at this hearing getting ready to go
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  head to head with our professor there, and I think that will be an
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  interesting conversation. What are we going to see also coming soon? Real estate
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  commodities, stable coins, all of that starting to line up here in real
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  world assets. All right, So let me go to another chart real quick.
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  This is kind of where we are right now on twenty twenty four incusses
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  at about one point five and look at the tokenized asset potential. It differs
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  across a little bit of countries due to the variation in their maturity of regulations
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  and the size of the asset classes. But the key here is look by
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  twenty thirty the growth we're going to see around tokenied securities, all of this
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  and tokenized assets, all of this in a very high growth rate. I
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  want to go to a couple of clips for you guys to kind of explain
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  a little bit of where this is going. This one is a reminder around
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  Larry Fink and what he predicted on the ETHTF. Take a look. Let
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  me be clear, I think ehfs are step one in the technological revolution in
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  the financial markets. Step two is going to be the tokenization of every financial
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  asset. Do you think Gary, and we'll talk to him later, Garytherum
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  will have to approve an ethereum? Yeah? Or do you think that all
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  these things have to go to court first? I couldn't respond to that.
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  I see value in having an ethereum ETF as I said, these are just
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  stepping stones towards tokenization. We have the technology to token ice today. If
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  you want to talk about think about this if we had a token ice security.
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  Jamie Dimond disagrees with you on that, butt does he? Though.
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  Jamie Diamond, though, goes into this a little bit more. Remember he
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  has been an antagonist of crypto for quite some time. But there's a little
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  bit of a plot twist. Take a look, we've been deeply opposed to
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  crypto. You pointed out going true use case for it as criminals, drug
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  traffickers, anti moner learning, tax avoidance. If I was the government's I
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• 9:11
  few clicks. This is a lot of work that JP Morgan has been doing.
• 9:16
  If you guys, remember look at that video right there, you'll probably
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  notice a handful of crypto projects that are right there center stage. One of
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  course, is Avalanche right in the middle of that with Wisdom Tree, and
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  then also you look at Apollo coming in right there under Providence Broctane, which
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  I'll show you guys in a second. Why that's important? All right,
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  let me jump back over here to the hearing that's coming up, because there's
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  another name here and you pay attention to, and that's Robert Morgan, chief
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  executive officer USDF. Al Right, who is what is USDF Consortium? We'll
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  go over and jump into their website. USDF is the banking industry's answer to
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  the need for a digital dollar. Let's go down further. You can kind
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  of start to see the members there, you've got amorant there connect one,
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  a lot of them, the mid sized banks, First Bank, et cetera,
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  New York Community Bank. So with this you look at all, right
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  where and what blockchains are involved here? Let's go further into the page.
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  What blockchain will USDF operate on? Right there, Providence blockchain, remember that
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  name, Providence blockchain, tied to JP Morgan, tied to Avalanche. Coming
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  back in, there's Providence blockchain right their one connected financial services ecosystem. Again,
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  going back to that JP Morgan video, it starts to break down all
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  these components. So it starts to lay in a very intricate, but yet
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  somewhat very pointed effort in a lot of the major names that we recognize on
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  Wall Street every day. Black Rock, JP Morgan, et cetera. Tokenized
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  assets are now here. They are for sure in play. Here is why
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  all of this is being taken so seriously right now, and that is stable
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  coins under MICA final countdown application on stable coins is now started. This happens
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  on June thirtieth. Right there, we are less than thirty days away.
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  We will have stable coins in the European Union and MIKA will be in the
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  guidance factor within that. Here's the announcement from Jeremy, A layer that is
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  very interesting because this starts to paint a picture for what stable coins are going
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  to be involved. Now, I want to look at a couple of things.
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  Major changes coming to the European digital asset market June thirtieth. Look,
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  take a look at this announcement. Now I'm going to bump to this announcement
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  and show you guys something that is kind of an interesting statement. And I
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  want to highlight right here spot trading Trading pairs with unauthorized stable coins will remain
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  available until further notice. We know what unauthorized stable coins that is. That's
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  now known as Teather. So how does this play out? Because there's a
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  lot of people all right, well this is happening. Is Tather going to
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  get delisted? Is Teather going to be a stable coin of use anymore?
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  How is that going to play out? A couple of points happening with Binance
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  right here, here's Richard Teng who's the CEO of Binance, playing into this.
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  Want to take a moment address the bigger questions about Raised raised, our
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  strategy for the upcoming MECA stable coin rules. Please be assure that Finance won't
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  delist any unauthor raised stable coins on spot, but we'll limit their availability for
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  EA users. So this itself is finance prepping to get away from this.
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  So, man, this gets really intriguing as it starts to play out in
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  the United States, especially as we start to see a fast track, most
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  likely of a stable coin bill. I want to play a couple of clips
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  for you. The first one is cracking, kind of talking about how far
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  we're behind. Listen, do you think this is the year that we catch
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  up with jurisdictions with respect to establishing a crypto framework. I'm thinking of Mica
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  and Europe, and how optimistic are you that by the end of this year
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  we'll see some of this legislation like get signed into law. In Europe,
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  you see the Markets and Cryptocurrency Assets rule charge ahead. They were light years
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  ahead of us on this, and as a result, we're seeing American companies,
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  American innovators, American entrepreneurs move off short Now we are committed to the
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  US market. Cracket has made that public. But I got to tell you,
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  it's tough to deploy capital here. It's tough to employ people, it's
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  tough to plan for product rollouts without certainty. I don't know how they beat
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  us on this. I kind of do, and I could spend a little
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  bit of time on it, But they beat us on this. That holds
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  as you can see jobs, livelihoods in the balance. I know what you
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  can see here, I know what I can see here. I don't know
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  what the cameras can see. But all these people have been pushing and pushing
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  and pushing to have their voices heard, and eventually that dan breaks. This
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  is Brad Garlinghouse talking a little bit about this, and he goes into what
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  could be coming down the pipeline, because if everything lines up here along with
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  what's happening with Ripple, we could see a stable coin bill getting improved.
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  In fact, I believe we will. I think one is going to get
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  approved, and I think we do get a stable coin and bill approved before
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  the end of this year. And I know there's some people that will assess
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  that differently. But let's go to this clip. So you're getting get the
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  business of stable coins. Why now, I think you look at where the
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  market is going. Well, you're right, it's summer to one hundred and
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  fifty two hudred million dollars today. I think forecasts are that's going to be
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  somewhere around two trillion to three trillion, So that's growth of ten to twenty
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  x where it is today. So that in and of itself has kind of
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  those are fun markets to be and that they're growing quickly. The second is
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  I think there's likely to be some shifts in market share. Today, Tether
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  is by far the dominance. I think the US government's take the position,
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  well, if you're represent a US dollar, you can be regulated by the
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  United States. That isn't the case today, and I think there may be
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  some shifts in how that market share. But look overall, I think teather
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  will continue to grow. I think USDC will continue to grow up. I
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  think there's a lot of room as that market grows for a rippleback stable coin.
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  And what does this mean for XRP. Do the two work in tandem
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  or does the stable coin supplant xrp's utility. We think having a stable coin
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  built on the XRP ledger actually adds the qu to the XRP ledger. We
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  already have been using stable coins in our payment flows, so you can anticipate
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  that Ripple's probably going to have quite a bit of an impact on the use
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  of stable coins. In fact, we'll see their stable coin roll out this
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  summer. Ripple switches their US on demand liquidity their ODL CLISS from XRPDUSTT.
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  This of course was last year's issue. So if this plays out and we
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  do see the Ripple stable coins start to play into it, we could see
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  liquidity start from ODEL especially start to shift over to Ripple. Now, with
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  all that being said, is the US ready for such a thing? There's
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  actually an executive order that has been issued already. This was actually issued in
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  twenty twenty two, particularly in setting standards that promote democratic values for law,
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  privacy, protection of consumers. All these are good investors and businesses and our
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  interoperability with digital platforms, legacy architecture, and international payments syst and let means
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  swift. We know that XRP is already working with Swift. This is of
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  course, was one of the initiatives that pushed Yellen into working on understanding what
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  was happening here. It also accelerated all of this movement. I think of
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  where we are seeing right now, the acceleration of stable coins being approved,
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  simply meaning we could see a fast track here on stable coins, especially,
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  maybe even faster than some of the other bills that are coming out, maybe
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  prior to even when Meeka's deadline hits in June, so a lot could be
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  happening right here in June. Make sure and follow us, of course,
• 16:33
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