I’m not gonna comment on if it’s a good idea or not, but the US government could make it illegal for any financial institution that does business in America interacting with crypto.
replyThey could also make it illegal for any US financial institution to do business with any financial institution that interacts with crypto.
They could probably also make it a crime to buy/sell crypto in America.
They could do all those things. But they won't. This administration is all-in on crypto, it's a key mechanism for receiving gift. They're not gonna cut it off.
replyIts also trivial to turn your crypto into yuan and your yuan into $. So I'm not sure such a ban would be even remotely effective.
> They could do all those things. But they won't. This administration is all-in on crypto, it's a key mechanism for receiving gift. They're not gonna cut it off.
replyThis comment chain starts with "Maybe after the mobster losers in the white House finally get kicked out we can just ban this thing forever."
I wish I could pick the brain of banking finance expert on how feasible/realistic that could be after the cartel and FTO money laundering fiasco.
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replyChina already bans crypto. If America and Europe followed suit, the market for crypto would quickly collapse
replyChina has banned crypto about a 100 times now.
reply> How do you ban this?
replyIn America? KYC would suffice.
America is not the world. They can’t go and sanction companies operating out of China or Japan who want a safe passage through hormuz. Especially now that the military power that supports the sovereign guarantee of US dollar is under siege.
reply> > Iran Starts Bitcoin-Backed Ship Insurance for Hormuz Strait
reply> In America?
No.
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