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THIS ISSUE OF C_NCENTRATE IS FREE THANKS TO TBD CONFERENCE
US IS GOING TO REGULATE CRYPTO
You know big things are going on when an Apple announcement just about gets covered by media that doesn't have 'Apple' or 'Mac' in their title. This week, that was the case due to the ongoing war in Ukraine. The big news instead was the US announcing the order to regulate cryptocurrency. Maybe without war, there would have been more furore, a crash, etc. But now, cryptocurrencies look like interesting bets and safer than large institutions tied to things. At least that's how the party line goes. The executive order has given instructions for various agencies to conduct research and product recommendations in the next 60-180 days. Expect more volatility and posturing while this happens. Need a primer on crypto? NFTs? DAOs? Watch this but also get inspired.
"The rise in digital assets creates an opportunity to reinforce American leadership in the global financial system and at the technological frontier, but also has substantial implications for consumer protection, financial stability, national security, and climate risk," per the White House press release.
The move effectively says the US is taking Web3 seriously and organizing itself to engage with the sector rather than banning or stifling it. Many called this a landmark moment, and they are right. When it comes to digital approaches, crypto isn't the only area in which the White House is showing some interesting strategies.
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__ DO __ Know that this was always the plan. Build big companies in the space, so strong regulation would be avoided (that’d be anti-business, not a good look for the US). The move is regular people protection. // __ DON'T __ Run out and buy bitcoin unless you can afford to lose it. Same advice as ever.
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