>It is important that the foundations for sound regulation of the crypto financial system be established now before the crypto ecosystem becomes so large or interconnected that it might pose risks to the stability of the broader financial system.
federalreserve.gov/newsevents/speech/brainard20220708a.htm
Its afraid and at the bargaining stage. People want to buy dollar, sell it to them
Ohnonono my hook nose bros! Shut it down!
this is the sign of the USA being ahead of the curve, as usual, and that they understand crypto will undermine and ultimately destroy the dollar, so they will get ahead of it and integrate it into their systems.
but midwits will act like this is somehow bad
they don't want a repeat of 2008, too much leveraged garbage
imagine if all the big banks had large exposure to Luna and 3AC, we'd all be fucked
We came here to destroy the nose not integrate it.
Are you glowing in the dark user?
you apparently dont hold chainlink, sad.
meds
>frantically looking for the off switch
bitcoin is with us forever.
>before the crypto ecosystem becomes so large or interconnected that it might pose risks to the stability of the broader financial system.
This sentence comes directly from the damn FED. Just think about it.
Amusing times ahead
>meds
You know how I know you don’t belong here
Once regulated, banks will start to offer tokenized CDs similar to the one being offered by MAXX. Banks could in a similar way, charge users withdrawal fees and pay them to stakers.
Schizo here whose third eye is open and frequently astral projects to the hexagon of Saturn. Crypto was literally invented by glowniggers. Just imagine telling a bunch of criminals that they can pay for their illegal activities using a ''''''non-traceable''''' currency. It's so fucking obvious if you aren't blind.
This is bullish as fuck btw, but sadly the tech was never about being decentralized and giving the finger to globohomo, it was a part of the globohomo from the get go.
they regulate the us economy so well that it should be fine.
>>this is the sign of the USA being ahead of the curve, as usual,
The chinks have been developing an actual CBDC for years and are ready to launch while the US is still thinking about it. They are definitely behind the curve and are now realizing that in 3-4 years crypto could quite easily grow beyond control
it’s unironically bad for the USA. The almighty dollar losing its spot as the world currency/reserve will have disastrous effects on the USA, long term
no what they’re going to do is make stablecoins illegal to protect the dollar unless it’s their own stablecoin that they can print freely
It means they want usdc to become larger to be able to bypass capital controls
crypto is currently parallel to traditional financial systems.
if we continue the way its currently going the crypto system will surpass central banks and over power and replace their system.
unless they join the systems they will be obsolete and gone.
parallel systems have basically perpetuated all major societal changes. rise of rock and roll music and collapse of the USSR are both good examples of parallel systems in play.
It means central banks can't tolerate competition