Filed Under: Reactive Thoughts
Do People Not Understand What Regulating Crypto Will Mean?
You will lose anonymity — full stop.
I’m a bit agitated as I review the news about the Blockchain Innovation Act, and the Digital Taxonomy Act (both part of the update to the Consumer Safety Technolgy Act) moving forward. There are a multitude of crypto and especially XRP fanboys that seem to think this somehow equates with XRP becoming the official US currency, or else will push it’s price through the stratosphere. I can’t speculate on price — whatever happens to prices will likely affect many digital currencies, not just XRP. And not necessarily in a positive way. I do not think these bills will have a positive impact on crypto beyond possibly wider consumer adoption.
To clarify — I do not in any way work for any crypto exchange or financial institution, nor do I have any channel or other internet presence that advises and/or tries to excite people about the prospects of cryptocurrency. I simply do not have a horse in this race. I’m not bearish or bullish on anything — I’m just a consumer that enjoys the ability to use crpto from time to time myself.
As for XRP becoming the official US currency, I can tell you that will be very unlikely to happen. As for a world reserve currency? I think in…
