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RE: The Crypto market is getting thrashed, here's why...
I think part of it is the ability to control an economy as well. They do that via interest rates, that won't change per say, but if everyone is their own bank it will. I think that is part of this as well. When they say they think it could be destabilizing, they are talking about the entire economy as well. They may lose some of their tools to keep the economy humming along in their targeted range, as you mentioned, and yes that is a bit scary.
Absolutely correct, one of the first things that gets mentioned is money laundering.
Anyone that has traded on a crypto exchange knows this isn’t true.
The exchange’s have all of my information including my bank info.
I have heard that a “criminal “ would be better off buying Amazon gift cards than trading on an exchange!🙃
It's certainly not like it once was... I think the P2P exchanges are the issue... no KYC there.
Very true there are always loopholes.....
I saw a CoinStar kiosk at the mall and to set up a hot wallet they want your drivers license for identification.
This is how the average "Joe " will buy BTC for now, even Blocktrades now requires ID.
This is probably just the cost of Crypto going mainstream.....
Yep. I am interested to see what comes of these P2P exchanges... I saw someone get nailed by the SEC for building one... The SEC claiming the guy was facilitating trading of securities by developing it...
I think the closer crypto gets to mainstream acceptance we will see more of this...... regulation and control.
Just take a look at Binance, I understand they are now setting up trading for US residents with a headquarters in the US.
Just to meet regulations.....
Yep. It's happening globally. Look at Blocktrades, you must KYC there now too. It seems there was some unreported regulations that were sent out to all exchanges/brokers to comply with... or else.
Some people were upset about Blocktrades but they didn’t have a choice, these regulations are coming.
Now with the Federal Reserve stepping up there game, the crypto markets are just reacting........,.
It never ceases to amaze me that all they need to do is make a negative statement and the market dumps.
So many high frequency traders with algorithms built in to react to “Talking heads”🙃🤔
Yep. They read news headlines and react. Then you have algos trading off the moves those algos, and more algos trading off those algos, and then even more algos trading off those algos... before you know it, it's all machines trading off of machines!