Daily Crypto Markets Live Blog: The Fed Wants More Oversight Over Crypto: Surprise (09/04/22)

[leomarkettalk]

How to get a Hive Account

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Here is the post for the Daily Leo Talk. In preparation for the upcoming Microblogging features, this is a good place to start conversations, posts charts, memes, trades, or anything else that comes to mind.

Let us boost our overall numbers by posting lots of comments throughout the day. Spread the word to get others involved.

It is a great way to stimulate engagement.

We can think of this as a Reddit type engagement thread. We are not dealing with long form content so topics of discussion can start off with a top line comment. We can fill in from there.

We are open 24/7/365.

Stay Informed About LEO!

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Comments

[rzc24-nftbbg]

Among the 12 quotes from this economic "wizard," I think only the last sentence in the last quote he got correct:

And for a while, even as the risks multiplied, it became, in effect, too big to regulate.

Source

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[ifarmgirl-leo]

Bingo! At least he admits that it is big and might add "hard" to regulate.

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[rzc24-nftbbg]

It reminds me of "too big to fail" during the aftermath of the bursting of the housing bubble in 2008. 😆

[rzc24-nftbbg]

Will this idea be bought in the end?

Governments across the globe see central bank digital currencies (CBDC) as a means to improve the existing fiat ecosystem.

Source

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[taskmaster4450le]

Fed research is crypto is a threat to the stability of the financial system. What a surprise.

• Fed research papers warn about future risks from crypto CeFi and DeFi

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[rzc24-nftbbg]

So the task of supervisory authorities now is to create "the necessary tools" for DeFi (once they reached the stage of becoming "systematically important") "to ensure compliance with laws and regulations."

When and what needs to be done for DeFi to be considered as something "systematically important"?

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[taskmaster4450le]

Yes because they have a track record of financial stability and making the financial system safe for all participants.

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[milaan]

Actually, the threat is the other way round, it is the FED that is a real threat to the whole global economic order.

What actually doing is that they are repeatedly giving advisory through World Bank, and IMF to developing countries where the crypto penetration is really high.

[taskmaster4450le]

The Fed doesnt really have much power. If people realized markets control interest rates and the money supply is in the hands of the depository banks, then they would understand the Fed is nothing more than propaganda.

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[marvinix]

We sure pose a threat to their centralized ass, now that crypto is making waves and solving real-life problems.

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[taskmaster4450le]

That is true. It is a battle for control of the ledger.

Who is going to win?

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[ifarmgirl-leo]

That's why they are scared. It won't be a threat if only they embrace it.

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[taskmaster4450le]

REMINDER!!!

Get all those #CANDIES. The jars are hungry.

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[ifarmgirl-leo]

40 today, the jar is truly bottomless. Can't get it filled, lol!

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[evernoticethat]

Good Lord! Haven't checked these in awhile. Today my total stands at a healthy 3800 candies on the nose!

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[firstborn.pob]

Good to be remember about getting this again

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[rzc24-nftbbg]

The guiding principle behind the Bitcoin standard is the separation of money and The State, borrowing from the enlightenment mantra of separating The State and religion. Source

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[taskmaster4450le]

The challenge there is the state, for the most part, isnt in control of the money. It is not the central banks or the government that affects the money supply.

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[rzc24-nftbbg]

Blockstream and Sevenlabs, bitcoin infrastructure service providers, have partnered with Poseidon Group to launch the first decentralized security token exchange for Bitcoin in Switzerland. Source

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[devpress]

How do you think Crypto would affect the Forex Market?
What could be possible future of Forex marketplace?

[rzc24-nftbbg]

The eyes of regulators around the world have turned to fintech and crypto companies and their operations. The Argentinian Tax Authority (AFIP) has recently won a landmark case in the area, allowing it to seize funds from a digital account in the country to pay tax-related debts. The request, which was first denied by a judge and then accepted in an appeal at the Federal Chamber of Mar del Plata, may be the first of many seizures of this kind.

Source

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