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How do you ban this? It’s not part of swift or any us govt. backed global financial rails. If Iran(a sanctioned entity) supports this then this is more proof th

by anukin 5mo ago

How do you ban this? It’s not part of swift or any us govt. backed global financial rails. If Iran(a sanctioned entity) supports this then this is more proof that the thing works.

bigyabai 5mo ago
> How do you ban this? In America? KYC would suffice.
- anukin 5mo ago
  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.
- deleted 5mo ago
  [deleted]
- smallerize 5mo ago
  > > Iran Starts Bitcoin-Backed Ship Insurance for Hormuz Strait > In America? No.
LPisGood 5mo ago
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. They 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.
- sheikhnbake 5mo ago
  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.
- bruce511 5mo ago
  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. Its 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.
  - furyofantares 5mo ago
    > 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. This comment chain starts with "Maybe after the mobster losers in the white House finally get kicked out we can just ban this thing forever."
- bogota 5mo ago
  [dead]
donkyrf 5mo ago
China already bans crypto. If America and Europe followed suit, the market for crypto would quickly collapse
- iamkrazy 5mo ago
  China has banned crypto about a 100 times now.

by anukin 5mo ago

How do you ban this? It’s not part of swift or any us govt. backed global financial rails. If Iran(a sanctioned entity) supports this then this is more proof that the thing works.

bigyabai 5mo ago

> How do you ban this? In America? KYC would suffice.

anukin 5mo ago
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.
deleted 5mo ago
[deleted]
smallerize 5mo ago
> > Iran Starts Bitcoin-Backed Ship Insurance for Hormuz Strait > In America? No.

LPisGood 5mo ago

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. They 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.

sheikhnbake 5mo ago
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.
bruce511 5mo ago
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. Its 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.
- furyofantares 5mo ago
  > 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. This comment chain starts with "Maybe after the mobster losers in the white House finally get kicked out we can just ban this thing forever."
bogota 5mo ago
[dead]

donkyrf 5mo ago

China already bans crypto. If America and Europe followed suit, the market for crypto would quickly collapse

iamkrazy 5mo ago
China has banned crypto about a 100 times now.