Biden Takes Executive Action on Crypto

[Mr2Bits]

 

[FireFoley]

This endeavor will probably go as smoothly as a Chinese Fire Drill

 

[TLB]

How feasible is this? Are we looking at yet another over reach on his part that will get slapped down, or can he actually mess with BC?

 

[williston_gator]

How feasible is this? Are we looking at yet another over reach on his part that will get slapped down, or can he actually mess with BC?

Can The Government Regulate Cryptocurrency?

 

[LoyalGatorFan]

They can try but I just don't see it happening....I find it funny though how the reason is "a matter of national security" but yet the dollar bill can be counterfeited, used to pay for drugs, credit cards are cyberhacked and frauded all the time, but yet crypto is a matter of national security hahaha....it's just an excuse because they know it's a threat to their system

Ted Cruz said it out loud the other day...politicians hate crypto because they can't control it. Each state can individually mine/create it so IMO if it's controlled at all, it will be by the governor. It's not the federal government's currency like the dollar is. It is a decentralized bypass the big bank type system.

 

[BMF]

I've got some cash sitting in stable coin w/ Blockfi and they sent out emails saying they can no longer accept additional funds into these interest accounts. They have to go through some sort of "regulatory clarity".

 

[Gatormac2112]

I've got some cash sitting in stable coin w/ Blockfi and they sent out emails saying they can no longer accept additional funds into these interest accounts. They have to go through some sort of "regulatory clarity".

Yep, same here. If BlockFi can’t do the interest on crypto anymore there’s no reason to have your money with them. Their ship will sink fast.

 

[BMF]

Yep, same here. If BlockFi can’t do the interest on crypto anymore there’s no reason to have your money with them. Their ship will sink fast.

The money already in is still earning interest, but you can't add new money. Blockfi's been going through regulation issues in several states (mostly blue states like New Jersey). I think they'll come through this fine, just hope it doesn't take too long. I like the earnings on the stable coin (while I dabble in buying dips in crypto). I'm up to 32% of one BTC and have 2.11 ETH. I'd like to get a full BTC (I keep telling myself if it goes below $30k I'll buy enough to get 1 full BTC).

 

[Mr2Bits]

 

[Concrete Helmet]

This is an issue I have been mentioning for a couple years now. Right now this is only to scare people to put their money back into banks since we are at the doorstep of a MAJOR liquidity crisis AND a stock market(and bond) meltdown....They are trying to tamp down the value of crypto's now the same way that the government is having Chase and Blackrock push down the price of precious metals.....if too many people flock to the safety of these assets at the same time there will be a MASSIVE crash in the banks with liquidity....