REPORT ABUSIVE REPLY
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Message Subject
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Hold on crypto tards....Coin base dropping like a rock after hours...get your Bitcoin out now.
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Poster Handle
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Buck Tardwater |
Post Content
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Commingling of crypto reserves from exchanger/market makers at banks that offer traditional financial instruments is the issue here. The Feds are about a half a second away from telling every bank in the US, "Drop your crypto exchange customers now." Crypto is something that needs it's own set of compliance controls and capital requirements...separate from traditional banks. Every time the crypto industry goes through an exit scam or big market fluctuation, it's like having a mini bank run.
What's going to need to happen is:
a) Establish a new framework for crypto-only banking licenses b) Require different paid-up capital reserve requirements for the crypto-only banks c) Make crypto exchangers move to new banks
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