> The US has absolutely no incentive to hand over controls of their monetary policy
The regulators who approve these proposals have nothing to do with monetary policy. Their concern is with the breathtaking volume of scams in the space.
The regulators who approve these proposals have nothing to do with monetary policy. Their concern is with the breathtaking volume of scams in the space.
Nobody at FINRA or the SEC cares about the power of monetary policy. The former being an industry group, it is actually somewhat in favor of letting banks sell Bitcoin (and related derivatives) to their clients. The people at the Federal Reserve, who actually control monetary policy, are mostly ignoring all this.
Pretty much. FINRA writes rules that everyone in the industry has to follow. When you work in securities, you agree to hand FINRA arbitration power over a lot of things. They can fine you and bar you from the industry. They can't press criminal charges, but neither can the SEC.