15 sats \ 2 replies \ @KingZing 12 Jul 2022 \ parent \ on: If You Aren't Trying to be Money, Why Do You Need a Coin? bitcoin
I don't think there's any hopium here? majority of the financial hubs like SG/UK/HK are working on regulations for digital assets. Why would the US would be any different?
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15 sats \ 1 reply \ @Spartan 12 Jul 2022
Because Gary Gensler (Chair of the SEC) has stated over and over that almost all coins besides BTC (and ETH, which is bullshit) are unregistered securities. There is no indication of any type that suggests special laws being created around crypto DeFi. None. Zero.
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15 sats \ 0 replies \ @KingZing 12 Jul 2022
But that's why I said, eventually they have to. The SEC, like central bankers, do not really call the shot. The market does.
It can sit and wait for a couple more years and see if defi dies on its own, but chances are it most likely wouldn't. A lot of high executives are leaving tradfi to join crypto even during this bear market. This pushes more pressure on them to do something, especially if other financial hubs already have their regulation all set up.
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