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Crypto is like a very long slow lesson on why we have some of the rules around finance that we have.

I don't get it. People lose their life savings on non-crypto brokerage scams exactly like this one. The people running these scams are criminals who do not care about any rules you might have around finance.

Cryptocurrencies aren't used to work around any regulations here, but just as an alternative lure instead of "FOREX" or "binary options".

"rules around finance" can do nothing to protect people from outright scams like this https://www.cpomagazine.com/cyber-security/fake-broker-deale...

People get scammed with cash everyday... I don't think you understand the problem.

People don’t carry their life savings in cash.

I think your looking at this via your own sircumstatnce. I know of a lot of refugees here in Berlin who carry their life savings with them. They also need to travel for weeks if they lose paperwork. Normally back to Italy.

I don't think that's the problem described in the article / an entirely different story / doesn't make any sense to dismiss the story because someone might lose a lot of cash.

Some do... some in gold, too

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