3 ms·
This is about Banks holding them as asset backing for deposits, etc. as an alternative to the traditional Bonds, Loans and Reserves. It's not about the crypto-
by neilwilson 5y ago
This is about Banks holding them as asset backing for deposits, etc. as an alternative to the traditional Bonds, Loans and Reserves.
It's not about the crypto-currency operation itself. It's whether they are worth anything in banking/accounting terms.
- chiefalchemist 5y agoFor now. Keep in mind, the question the status quo is wanting to answer is: "We can't simple stand still and forfeit our (fiancial) power, so how can we make this work for us?" They haven't squashed because it might be a and better opportunity for them. It will be a nudge by nudge process. This is a start. Nothing is off the table for them.
- JumpCrisscross 5y ago> how can we make this work for us? Which side of this debate do you think the City of London and Wall Street are on? Crypto has been a panacopia for finance.
- gnzoidberg 5y agoWhat's a panacopia?
- chiefalchemist 5y agoMy point is, legislation and regulation is a function of control. The lack of such things currently either means: - They already think they have the upper hand. - Or, it's too new and they haven't sorted out which scale and how much thumb pressure to apply. But the lack of regs atm is certainly not inductive of anyone's benevolence.