A tangent. A US digital dollar administered by the Federal Reserve and US Treasury would be an awful day for people who believe in individual liberty and freedom.
Apr 10, 2022·edited Apr 10, 2022Liked by Jeffrey Carter
Hey, we could just self-regulate. After all, that FINRA model has worked so well. As for a CBDC, that's the ultimate land grab. Land, assets, hope...you name it. Nom, nom, nom.
We could and should. Long ago I called for crypto to follow the commodities path and set up their own regulatory agency that had teeth. Leo Melamed showed how to do it in the 60s
ahhh. got it. so either way the insiders regulate. they either 'self-regulate' via government. or they literally self-regulate. looks like they set up their Dem-Repub win-win scenario here.
Gotta get out in front of these things. Take away their excuse for intervening with a heavy hand. The SEC will make a play, no doubt, but if a SRO framework is in place, that dullens their sword. BTW, Crypto Mom Hester Pierce noted a few months that the SEC won’t pick this up until ‘23 so the widow is open.
you wrote: “Will the State objectively regulate cryptocurrencies when cryptocurrency has the ability to topple one of the State’s greatest powers, money creation?”
Hell yes, for some very specific values of "objectively".
One other thing to remember that is very important is that crypto encompasses the true definition of a global economy and has the potential to impact every industry in every nation on the planet and that is an obstacle to individual governments attempts to continue to regulate it, because there are just too many participants who don't really care what their government says and will just move to a friendly country if they are very active and that will create an environment where government, much like the banking industry, which has never been known for its vision( and that concept is laughable) will realize after the fact that the power they thought they had or would have is at best fleeting.
There are already dozens of millions of participants in crypto who live in Nations that ban it and that will continue to grow.
The guy was, and still is, an absolute disaster and one of the few people quote unquote associated with the industry to have made as many ignorant and incorrect remarks as Jamie Dimon.
It is stunning to read and hear the utter nonsense spewed by both of them.
A tangent. A US digital dollar administered by the Federal Reserve and US Treasury would be an awful day for people who believe in individual liberty and freedom.
Hey, we could just self-regulate. After all, that FINRA model has worked so well. As for a CBDC, that's the ultimate land grab. Land, assets, hope...you name it. Nom, nom, nom.
We could and should. Long ago I called for crypto to follow the commodities path and set up their own regulatory agency that had teeth. Leo Melamed showed how to do it in the 60s
ahhh. got it. so either way the insiders regulate. they either 'self-regulate' via government. or they literally self-regulate. looks like they set up their Dem-Repub win-win scenario here.
Gotta get out in front of these things. Take away their excuse for intervening with a heavy hand. The SEC will make a play, no doubt, but if a SRO framework is in place, that dullens their sword. BTW, Crypto Mom Hester Pierce noted a few months that the SEC won’t pick this up until ‘23 so the widow is open.
you wrote: “Will the State objectively regulate cryptocurrencies when cryptocurrency has the ability to topple one of the State’s greatest powers, money creation?”
Hell yes, for some very specific values of "objectively".
One other thing to remember that is very important is that crypto encompasses the true definition of a global economy and has the potential to impact every industry in every nation on the planet and that is an obstacle to individual governments attempts to continue to regulate it, because there are just too many participants who don't really care what their government says and will just move to a friendly country if they are very active and that will create an environment where government, much like the banking industry, which has never been known for its vision( and that concept is laughable) will realize after the fact that the power they thought they had or would have is at best fleeting.
There are already dozens of millions of participants in crypto who live in Nations that ban it and that will continue to grow.
VPN baby VPN LOL
The guy was, and still is, an absolute disaster and one of the few people quote unquote associated with the industry to have made as many ignorant and incorrect remarks as Jamie Dimon.
It is stunning to read and hear the utter nonsense spewed by both of them.