White House Wants Crypto Rules as a Matter of National Security

I think everyone knew this was coming. Here comes the government to regulate, choose winners and losers, and provide a nice new asset class for our politicians to manipulate for their own financial gain.

Expect international regulation of crypto assets. No more of this little people getting rich thing.


www.barrons.com...

The Biden administration is preparing to release an executive action that will task federal agencies with regulating digital assets such as Bitcoin and other cryptocurrencies as a matter of national security, a person familiar with the White House’s plan tells Barron’s

bitcoinmagazine.com...

“This is designed to look holistically at digital assets and develop a set of policies that give coherency to what the government is trying to do in this space,” a person familiar with the White House’s plan told Barron’s. “Because digital assets don’t stay in one country, it’s necessary to work with other countries on synchronization.”

The regulatory efforts would reportedly involve the State Department, Treasury Department, National Economic Council, and Council of Economic Advisers, as well as the White House National Security Council as the administration gauges that cryptocurrencies have “economic implications for national security,” per the Barron’s report.

The whole appeal of crypto is government has jack to do with it. If it becomes a federally regulated service, crypto is done.

R.i.P. Bitcoin
Anything Biden touches turns to 💩

One of the people with a hand up the puppet in chiefs backside apparently has a bone to pick with crypto.

How dare it point out some of the glaring problems with our existing scam currency.

a reply to: infolurker
It costs a lot of money to keep the corporation in business.
All those agencies have pensions to honor, cut off the pensioners then yeah, it's a manufactured crisis/national security issue.

National security means their butts are on the line and belong under more scrutiny.
🙏❤

Anyone who didn't see this coming is an idiot.

Like you didn't see that coming in the last 2 weeks

a reply to: infolurker

come on man, they just wanna tax the sh.t out of it.

a reply to: infolurker

We all knew this was coming.

Still sucks.

The govt down here in Colombia is about to step in an regulate crypto as well.

Thanks anyways for the dream Satoshi..

originally posted by: imitator
R.i.P. Bitcoin
Anything Biden touches turns to 💩

The Golden Touch.
The Midas Touch.
The Septic Touch.
The Biden Touch…

“National security” is a pretty thin veil. Why doesn’t the administration just out and say they wanna tax cryptos?

Oh and don’t forget the Federal Reserve. Rest assured nobody’s encroaching on their turf.

originally posted by: infolurker
I think everyone knew this was coming. Here comes the government to regulate, choose winners and losers, and provide a nice new asset class for our politicians to manipulate for their own financial gain.

Expect international regulation of crypto assets. No more of this little people getting rich thing.


www.barrons.com...

The Biden administration is preparing to release an executive action that will task federal agencies with regulating digital assets such as Bitcoin and other cryptocurrencies as a matter of national security, a person familiar with the White House’s plan tells Barron’s

bitcoinmagazine.com...

“This is designed to look holistically at digital assets and develop a set of policies that give coherency to what the government is trying to do in this space,” a person familiar with the White House’s plan told Barron’s. “Because digital assets don’t stay in one country, it’s necessary to work with other countries on synchronization.”

The regulatory efforts would reportedly involve the State Department, Treasury Department, National Economic Council, and Council of Economic Advisers, as well as the White House National Security Council as the administration gauges that cryptocurrencies have “economic implications for national security,” per the Barron’s report.

Interesting quotes from the second link:

The regulatory efforts would reportedly involve the State Department, Treasury Department, National Economic Council, and Council of Economic Advisers, as well as the White House National Security Council as the administration gauges that cryptocurrencies have “economic implications for national security,” per the Barron’s report.

and later in the article

The White House’s plan is to “bring order to the haphazard approach that the government is now using to regulate crypto,” the person told Barron’s.Currently, different aspects of the cryptocurrency market are dealt with by different agencies, including the Securities and Exchange Commission and the Commodity Futures Trading Commission, but there’s little coordination and consensus when it comes to the classification of the many different assets in the market.

We're going to "bring order" by involving 5 organizations instead of 2 organizations for regulatory oversight.

Sure. Sounds legit.

originally posted by: TzarChasm
The whole appeal of crypto is government has jack to do with it. If it becomes a federally regulated service, crypto is done.

Yea, well, and no.

Decentralization is key. If the government wants to regulate (which they are at lest 5 years behind on) crypto, this would bring legitamacy to accredited institutions .

Now what does that come with? All the same manipulations that we know, and dont know, that are instilled in the current traditional markets.

What it doesnt come with is exclusion, changes to code bases, increase in asset etc etc.

I dont support this btw but its nieve to think its not going to happen at some point.

a reply to: infolurker

Tacit admission that the USD as the World's Currency has been stretched to the breaking point.

Add to that the law allowing for the gooberment to snoop your account at $600.

Folks, if you've got any money in savings, it may be time to invest in something you're able to keep and able to pass along to your kids ... that holds its value. Gold and Silver are far below what they cost in dollars. And stocks ... well ... you don't really possess those, do you? Those can be re-valued at the drop of a hat.

So ... be careful, but don't let the gooberment decide for you. I'll guarantee that's a losing strategy.

a reply to: Snarl

Land. If someone is able, froggen land.

originally posted by: JinMI
Land. If someone is able, froggen land.

Think Bill Gates is onto something? -grin-

Just remember ... accessible land gets the living Hell taxed out of it. Land ain't worth anything unless you work it. I invested in land once. Made some profit for awhile, but it started to sandbag me and I had to let it go.