3 ms·
It's not about storing crypto - it's about storing fiat currency for crypto companies.
by lmz 2y ago
It's not about storing crypto - it's about storing fiat currency for crypto companies.
- makeitdouble 2y agoThanks, I wasn't getting it and it's a bit clearer.
- sroussey 2y agoSame problem for marijuana companies.
- wmf 2y agoThe difference is that marijuana is illegal at the federal level while crypto is (nominally) legal.
- dalemhurley 2y agoIt is not about legality. It is about the costs exceed the ability to make a profit, it all has to do with liquidity and capital requirements to mitigate the risks. If you want to blame anyone, blame all the scam artists and criminals that targeted crypto. The banks cannot profitable mitigate the risks. If a bank cannot make profits they will collapse.
- dalemhurley 2y agoYes it is, crypto is wanting to use banks for the storage of funds, but the banks cannot afford the cost of doing so, because it costs money to manage the massive risk.