The growing cryptocurrency sector needs to be regulated to protect users from online scams and prevent it from being used in crime such as money laundering.
The growing popularity of cryptocurrency is perceived as a danger to central banks, as they are concerned about the impact that a volatile decentralized currency can have on their economy.
2 comments:
Certainly so called "stable coins" need to be regulated. Those outfits make the same promise that normal commercial / private banks make, namely that they will turn their home made funny money into central bank money when required to: i.e. that their funny money will retain its value relative to central bank issued money.
The latter existing private banks which make that questionable / risky promise have to be regulated and backed by deposit insurance and bank bail outs to make sure their promise can be kept. Same should apply to stable coins.
Ralph all you gotta do is back it with USTs at par parked at the Transfer agent of your choice … collect all the coupons and be honest… you’ll be a bazillionaire…
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