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The Sledgehammer: Treasury urges SEC, CFTC crack down on crypto industry in wide-ranging new reports
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The Sledgehammer: Treasury urges SEC, CFTC crack down on crypto industry in wide-ranging new reports

Tony40Tony40 Member
edited September 16 in General

The U.S. Treasury is warning in three new reports that cryptocurrencies pose meaningful risks for consumers, investors, and businesses if not properly regulated.

The government is also recommended moving forward with work on a central bank digital currency, but stopped short of recommending one.

The reports encourage the Securities and Exchange Commission (SEC) and ... https://finance.yahoo.com/news/treasury-crypto-regulation-reports-september-100041563.html

Comments

  • Tony40Tony40 Member
    edited September 16

    Mods, please move to the** News** Topic!

  • stefemanstefeman Member
    edited September 16

    Too late, too little.

    Its used because theres no central regulated body. Even if they made it illegal at this point, it would be continued to be used.

  • How can one regulate unregulable thing?

  • It'll be as effective as the DOJ sanctioning a piece of self-executing code, the SEC's many many many attempts at making up authority they didn't legally have and the one time they went so far they lost at the Supreme Court against a pro se non-lawyer, or China's now 70 year old ban on porn. Your tax dollars at work right there.

  • @LTniger said:
    How can one regulate unregulable thing?

    Block domain names used by cryptocurrencies?

  • @chihcherng said:

    @LTniger said:
    How can one regulate unregulable thing?

    Block domain names used by cryptocurrencies?

    Like in battle against piracy? :D a game of whack a mole.

  • @stefeman said: Even if they made it illegal at this point, it would be continued to be used.

    Sure, but the U.S. isn't trying to make it illegal.

    @LTniger said:
    How can one regulate unregulable thing?

    Same way they regulate cash: impose rules on the institutions which handle this on behalf of clients.

  • @jiggawattz said:

    @stefeman said: Even if they made it illegal at this point, it would be continued to be used.

    Sure, but the U.S. isn't trying to make it illegal.

    @LTniger said:
    How can one regulate unregulable thing?

    Same way they regulate cash: impose rules on the institutions which handle this on behalf of clients.

    Is it possible that the U.S. government forbids cryptocurrency operators from using SWIFT?

  • Treasury is corrupted at the core. Just like many other departments of the United States.

  • jarjar Member, Patron Provider

    Boo. They should stick to what they're good at, drone strikes.

    Thanked by 1Chuck
  • Get-rich-quick cryptocurrency scam takes over TikTok

    A TikTok scam is promising users to turn a few hundred dollars into thousands of dollars worth of cryptocurrency.

    PENNSYLVANIA, USA — Get-rich-quick scams are prevalent on social media. Most recently, a cryptocurrency scam is sweeping through TikTok.

    According to the Better Business Bureau, it starts with a scam artist posting a video of a large pile of cash. They claim they made the money in just a few days by investing in cryptocurrency and can do the same for you.

    When you contact the con artist through a messaging app such as WhatsApp or Telegram, they .... https://www.fox43.com/article/money/get-rich-quick-cryptocurrency-scam-takes-over-tiktok-pennsylvania-money-flipping/521-6e23d513-85da-4a83-a926-46906ae8c5dc

  • @chihcherng said:

    @jiggawattz said:

    @LTniger said:
    How can one regulate unregulable thing?

    Same way they regulate cash: impose rules on the institutions which handle this on behalf of clients.

    Is it possible that the U.S. government forbids cryptocurrency operators from using SWIFT?

    They don’t currently, but this is possible.

  • @Tony40 said:
    According to the Better Business Bureau, it starts with a scam artist posting a video of a large pile of cash. They claim they made the money in just a few days by investing in cryptocurrency and can do the same for you.

    When you contact the con artist through a messaging app such as WhatsApp or Telegram, they ...

    How very original!
    In Germany we had these fine businessmen for a while:

    It never gets old! Pure gold!

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