Crypto Oversight Road Map Is Set by US Banking Regulators (bloomberg.com) 10
U.S. banking agencies provided more insight into their plans for regulating cryptocurrencies on Tuesday, issuing a to-do list of their priorities for next year and announcing a new policy that would require banks to seek permission before offering digital currency products. From a report: The Federal Reserve and other banking agencies released an agenda outlining areas of focus, including how they plan to weigh custody, crypto-backed loans and the possibility of capital standards, according to a joint statement. Separately, the Office of the Comptroller of the Currency said that banks must get an additional sign-off from the regulator before engaging with digital coins. "Throughout 2022, the agencies plan to provide greater clarity on whether certain activities related to crypto-assets conducted by banking organizations are legally permissible," the Fed, Office of the Comptroller of the Currency and Federal Deposit Insurance said in the statement.
Government? Is really great at (Score:4, Funny)
Re: Government? Is really great at (Score:2)
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killing off most things they touch.
Well in this case we can only hope you're right.
"regulating cryptocurrencies" (Score:2)
Re:"regulating cryptocurrencies" (Score:4)
The main point is that the history of financial regulation is a series of lessons learned, and one of the main lessons is that unregulated financial markets wind up in cycles of boom and bust, which is bad for society generally.
Despite what neo-liberals say, regulation of financial markets is a good thing and ought to be encouraged.
Re: (Score:1)
Relax, it's probably impossible
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Won't this lead to much better cryptos that make it harder to track sending/receiving coins?
The government doesn't care what you do with pretend internet money. They're only concerned with when it gets bought and sold for real money.