Tagged #crypto

Crypto executive order establishes a digital assets working group to recommend regulatory changes and "evaluate the potential creation" of a digital asset stockpile, prohibits the development of a central bank digital currency (CBDC), and revokes Biden's crypto EO.

My immediate thoughts: this is mostly symbolic. The revocation of the previous EO doesn't do much (because the prev EO didn't do much), and although a lot of people have blustered about banning the creation of a CBDC, no US entity ever really pursued creating one.

This sequence of tweets is beyond parody

In the last issue of my newsletter, I wrote: “Side note: If someone promises you a risk-free 20% annual yield if you just let them hold on to your dollars for you, the risk that that you never see those dollars again is in fact very high.”

Anyway, here’s a post from Justin Sun today:

what could go wrong with running betting markets like this?

apparently preventing fraud is “anti-crypto”.

according to this Fortune headline, the SEC going after fraud and deceptive business practices after a company publicly announced they were going to breach a previous agreement with the agency is an “anti-crypto campaign”