governments are looking to criminalize the conversion of crypto to fiat. This means NO OFF RAMP for cryptocurrencies, at least not in North America. Translation: Nobody can SELL the crypto because it will be against the law. An honest question emerges: What will be the value of Bitcoin if it is illegal to sell it for fiat? Also: How effectively can governments enforce this tyranny against crypto? Not clear yet... but
Why would they let banks sell and store crypto only to outlaw it months later? Doesn’t make sense. It’s too big and too mainstream to pull off a move like that now
I agree, it wouldn’t make much sense at all for that to be true
Question is what will USD be with heavy inflation if they are so worried about crypto.
Uh.. I dunno, I'd think that'd be more harmful to them then serve as any potential "deterrent" not to enter crypto. Much less, service as some kind of panic to exit crypto.
Pure FUD. This is all nothing more than political theater. The politicians talking this garbage are beholden to the big banks that donate to their campaigns. Simultaneously, they are also beholden to their rich friends, who hold large amounts of crypto, and are also donors. The CEO of FTX was the second largest donor to the Biden campaign. So they will make it look like they’re trying to quell crypto to make their banker buddies happy. And the whole time they’re telling their rich buddies that nothing is gonna happen. Then when nothing does happen, they can blame it all on the Republicans when talking to their banker buddies.
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