Fed's Brainard says crypto needs regulation now before it becomes so big that it threatens financial system

submitted by Drewski from cnbc.com

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[–]Alienhunter 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (2 children)

Regulation of crypto is inevitable. It will kill it's main benefit as a vehicle for money laundering and make it essentially another kind of electronic banking like a credit card with the extra step of converting to some other currency.

There's basically zero benefit from using Crypto beyond speculation and illegal activities. It might see some success in international transactions but I doubt there will be much benefit to it for most.

[–]cm18 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (1 child)

Fuck "its inevitable". Defeatist garbage. Make them pay for regulating. Don't simply give it to them by giving up. Make it politically EXPENSIVE by pointing out how corrupt the existing system is and how they don't "regulate" anything.

[–]Alienhunter 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

You may choose to waste your time energy and finances on a hopeless battle if you wish. Every war needs it's pawns to die in the line of battle for their king.