US banks pressured to sever ties with crypto companiesprotos.com/us-banks-pressured-to-sever-ties-with-crypto-companies/
413 sats \ 12 comments \ @rujgev 23 Jan 2023 bitcoin
write
preview
related posts
36 sats \ 0 replies \ @satcat 23 Jan 2023
This is why we don't kyc.
reply
5 sats \ 0 replies \ @nullama 23 Jan 2023
Not a single US regulatory body, like the Federal Reserve or the Securities and Exchange Commission (SEC), looks at the crypto industry favorably today, according to a banking exec at a crypto-friendly American bank.
Weird that they don't mention the Bank for International Settlements(BIS) is going to allow Central Banks around the world to have up to 2% of their reserves in Bitcoin from 2025...
Source: https://bitcoinmagazine.com/legal/bis-finalizes-bitcoin-bank-limits
reply
1 sat \ 0 replies \ @ZenulAbidin 23 Jan 2023
At the beginning of January, the Federal Depositors Insurance Corporation (FDIC) issued a scathing statement on cryptocurrency, saying that issuing or holding crypto stored or transferred on a decentralized network “is highly likely to be inconsistent with safe and sound banking practices.”
Ha ha, I'm sure they could do much better at storing people's funds better than a decentralized network can, considering all the recessions and money printers that have happened since 2008 /s
Of course it's highly inconsistent, decentralized crypto is the one with actual safe financials.
reply
0 sats \ 0 replies \ @selfish_gene 24 Jan 2023
они их не связывались что б иметь рычаг разорвать. хотя иметь другую логику легче
reply
0 sats \ 0 replies \ @faithandcredit 24 Jan 2023
Whos pressuring them? Bitcoin Maxis?
reply
0 sats \ 1 reply \ @sudonaka 23 Jan 2023
Do we have a way to buy newly mined BTC directly from industrial miners?
reply
0 sats \ 0 replies \ @selfish_gene 24 Jan 2023
да. ты можешь купить чистый биткоин на 25% дороже. но для этого тебе придётся сначала заплатить уже старыми. помогу
reply
0 sats \ 0 replies \ @jp 23 Jan 2023
Essentially this is an attack to consolidate purchasing power to institutional investors.
Since they limited the purchase amount to $100k+ then it will force individuals to consolidate their purchases to reach over $100k/transaction. This consolidation is a step to increase centralization to make regulation easier (effectively "divide and conquer")
reply
0 sats \ 3 replies \ @siggy47 23 Jan 2023
Then they fight you...
reply
0 sats \ 2 replies \ @2minutebitcoin 23 Jan 2023
crypto companies != bitcoin
We would argue they aren't even fighting Bitcoin here, but it is just getting swept up in the awful umbrella term "crypto". We as a community need to work harder to break away from that, because it's obvious by now that we have nothing to do with it.
reply
0 sats \ 1 reply \ @siggy47 23 Jan 2023
Of course you're right, but I'm not sure if the government: a) doesn't understand the nuance, or: b) purposefully throws out bitcoin baby with crypto bathwater.
reply
0 sats \ 0 replies \ @ZenulAbidin 23 Jan 2023
I'd bet that Joe Biden's governments has no understanding about the implications of such a move whatsoever.
It's like "hey all these crypto companies are going down, lets solve the problem by killing more of them", Nevermind charging the real fraudsters like SBF and clawing money back from FTX US.
reply