G20 Watchdog To Propose First Global Crypto Rules in October (reuters.com) 10
The Financial Stability Board (FSB) said on Monday it would propose "robust" global rules for cryptocurrencies in October, following recent turmoil in markets that has highlighted the need to regulate the "speculative" sector. From a report: The FSB, a body of regulators, treasury officials and central bankers from the Group of 20 economies (G20), has so far limited itself to monitoring the crypto sector, saying it did not pose a systemic risk. But recent turmoil in crypto markets has highlighted their volatility, structural vulnerabilities and increasing links to the wider financial system, the FSB said.
Did they propose anything... (Score:1, Informative)
Did they propose anything at all to do something about the reasons that caused people to turn to cryptocurrencies in the first place?
Will they ever even think about that, at all?
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A Ponzi Clause?
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There's not much anyone can do about people being utterly delusional, I'm afraid.
Here is the only rule (Score:1)
The only rule for Crypto (anything) is you must be a blindly loyal next greater fool. Its that simple.
Come on in⦠let us set you up with an account using your real money in exchange for something that canâ(TM)t be cashed in for real money⦠think of it as an IOU!! Come right on in!
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A number of exchanges still permit trading crypto back into real money, so the one-way trip you're depicting isn't quite reality just yet.
If people want to buy digital tulips, that's their prerogative. It's supreme speculation that the exchange rate goes anywhere but further down from here, but I guess that's the whole point of such a game.
Personally, I'm just glad to see less crypto related advertising lately, now that the bubble money has all but dried up. I was getting about as fond of crypto advertiseme
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Me, I'm staying away from cryptocurrencies and investing all my money in Beanie Babies instead.
(laughs in Monero) (Score:2)