Quote from: jrrsparkles on Today at 03:39:38 PM

Quote from: Z390 on March 19, 2023, 09:11:13 AM

I don't know if anyone is thinking the same thing, Banks are collapsing and they want to regulate crypto? How is this going to be possible? How can a corrupt system brings a transparent regulation to the crypto space? I think that this regulation is a FAD, the aim behind this regulation is not about saving mankind from crypto rug pulls, I think the plan is to squeeze the life out of crypto because of the attention its getting.

If anything needs regulation, it is CENTRALIZED EXCHANGES only.

AFAIK banks doesn't regulate the cryptocurrency, there will be certain committee like group of people so called financial experts will be assigned by government to do enough research about the asset and how it can generate revenue to their government. However central bank of a country is the back bone of government so they influence government as much as they can by suppressing with huge and unfair taxes, more limitations restrictions for service providers.

I would guess that they will eventually do it. I think there will be a moment in our life time where we can deposit our crypto into banks. It will be only bitcoin at first, but then maybe a few others will join too, mainly ethereum. I think when you could end up putting your bitcoin into the bank, that will be the start of everything that is bad and it will crash and burn, not just bitcoin but the whole crypto world.

Because banks will have 1 and say they have 3, and that type of thing happening right now with fiat, they have x amount in their vaults, and they loan out x9 amount instead, which causes people to end up losing a ton of money because there isn't enough money in the world for everyone to pay their debt back, it's mathematically impossible.