My Take on Cryptocurrency Credit Card Ban

So I wanna take a minute to address the big bank cryptocurrency credit card ban. So while this seems very negative at the surface and certainly the timing couldn't be worse, I think this could be a positve sign for the space.

Firstly I do believe the timing of this news was strategic and planned for multiple reasons but I think the reason is somewhat benign to the crypto space. The question that comes to mind is why institute this ban when cryptocurrency has taken a huge hit and lost nearly 2/3 of value from it's all time high? I think there are 2 answers.

First is that the banks are scared. Money is flowing out of our Fiat currency system and into this space at alarming rates. The money is not going to the banks to make more money. So the banks are scared that eventually will be left behind with no customers.

The second reason is to protect the uneducated individuals that believe they will be millionaires overnight. Cryptocurrency is very volatile and an uneducated person may over extend themselves using their credit. The loser is the banks. So they are protecting us and themselves.

This is all positive as this space is now being taken seriously and now only liquid money can be injected into this space instead of credit which is technically not real until it is backed. For the space though, it is seen as real money and there is no way to tell the difference. This ban will help with this issue. Give it time as more will see the benefit.