↠ "White House just put out a framework on regulating crypto" ↞ Thoughts?

What are your thoughts on this?


To me, it seems like good news. The fact that the US is trying to "regulate" crypto means that they have already accepted it, be it as an asset or medium of exchange.
The second good news to me is that they are trying to crack down on scammers and fraud happening in the crypt space.

The bad news is that they may create a Crypto Central Bank, which IMO is against the crypto fundamentals. These are just rumors though


Sources:

forbes.com/sites/siladityaray/2022/09/16/white-house-outlines-plan-to-regulate-cryptocurrencies-heres-what-you-should-know/?sh=4c7749f041ec

https://www.cnbc.com/2022/09/16/heres-whats-in-biden-framework-to-regulate-crypto.html

I'm not sure how well they have thought this through but it's not really impacted the markets.

The Biden White House has just released its first-ever framework on what crypto regulation in the U.S. should look like — including ways in which the financial services industry should evolve to make borderless transactions easier, and how to crack down on fraud in the digital asset space.

The new directives tap the muscle of existing regulators such as the Securities and Exchange Commission and the Commodity Futures Trading Commission, but nobody’s mandating anything yet. The long-awaited direction from Washington has, however, captured the attention of both the crypto industry as a whole — and of investors in this nascent asset class.
Its a damn good news for crypto world.

I guess it wont have a direct impact yet because it remains to be seen how this will impact the crypto world - once these directives get put into action by regulators I guess we'll see what happens. But definitely from an acceptance point of view at least, it just shows how much of a foothold crypto has on the world.

MisterF said:

I'm not sure how well they have thought this through but it's not really impacted the markets.

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I think these are still suggestions or directions and are not put into action.
We have to wait and HODL

davids355 said:

from an acceptance point of view at least, it just shows how much of a foothold crypto has on the world.

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Exactly this!

It was just a matter of time. you will own nothing and you will be happy