It’s Time for Regulators to Put Crypto Down
foreignpolicy.com
foreignpolicy.com
The stock market and such used to be a sea of fraud. It wasn't until the SEC was created that it got a bit better. But even now, the market is an easy place to lose all your money. Regulations aren't the savior everyone wants them to be either but it helps.
What will work best is some regulation but best of all, education of the individual investor. Make sure people know what they are getting into. Have them understand that fast money comes at high risk.
As far as regulation, the best that can be done is self regulation. Crypto is worldwide. It's not possible to mandate rules since there is no way to enforce them for all. China has banned any type of crypto activity yet there are still mining farms there. If China's authoritarian government can not do it then it's unlikely to be done anywhere else. If the Crypto industry wants people to respect them then they will have to go toward making sure that everyone respects a set of rules and ban everyone that can't abide by them thru the establishment of a self governing body.
Miners in China shows you that ultimately the only way to stop it would be technologically enforced bans on arbitrary computation or disconnect the internet. Both of those ways will fail too, as general purpose computers exist and one can find a signal…
If you start messing around with margins, options, futures, shorts... yeah, you can definitely screw yourself, because you're risking more money than you have.
But with stock purchases, the most you can lose is what you spend, and even then only if everything you pick is a complete failure. Which is unlikely, because publicly listed companies have at least a modicum of ability to produce something.
(At least, they used to be. Now we've got SPACs to avoid all that tedium.)
This link does https://foreignpolicy.com/2022/06/21/crypto-regulation-ust-l...
Just let it linger and die a slow agonizing death unaided by the oppressive arm of big government. I'm sure there is still some anti-government money out there still waiting to be swindled. Stopping the steal now could lessen the value of this teaching moment.
All we have now is people prodding and poking a box hoping for a particular desired outcome. The zombie corpse of inflation rips the wealth from the bones.