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.
Yeah, it's not the entire market that needs regulations but those centralized exchanges and services that can be said to be at their control. These banking system are nowhere to go and that's why they're looking for ways to bail out and to tell people that they're doing good even if it's visible in our naked eyes on what's actually is happening on them. Together with the government, they're helping each other trying to regulate crypto but in reality, they should be the one that must be monitored because of the scenarios and events that has shown to the world on how corrupt they are.
We have been waiting for regulations for a long time, and until today there is none. Generally, people who like to invest will not touch something that is not regulated because who knows that by the next few days, BTC could be banned. I suppose it's the fear by the many investors in the US who had so much trust in thier SEC that also wants to keep crypto dead.
While they are introducing FEDnow also, I guess the goal will also be to make FEDcoin look better than BTC.
FedNow is the federal reserve's miserable attempt at trying to develop a digitalized payment platform to compete with what the private market offer. I imagine they might use the platform to introduce CBDC's considering a payment system like FedNow hasn't been developed by the fed for over four decades since the development of ACH.
Bitcoin won't be banned. The government will just offer new ways to regulate the growth of the space until it drives people away. And they might even try to force people to use their trash FedNow system while they're at it too.