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RE: G20 Calling for Cryptocurrency Regulations AKA They're Scared
After hearing the press conference, I was disappointed from the constant reference to terrorist financing and money laundering while talking about cryptocurrencies. It is obvious that they countries either know very little of how blockchains and their assets work or that they have a priority to protect their traditional financial systems led by the banks. While I doubt they will stifle innovation, they will surely find ways for their regulatory framework to give preference or benefit traditional financial institutions.
@newageinv They speak of those topics as if traditional currencies and banking aren't used for the very same things. I know my country the USA has been caught red-handed funding middle eastern terrorist groups. Obama even sent 1.5 billion in CASH to the Iranians. How is that not a problem?
These people think we're so stupid.
Also, like I said, they can't regulate anything if we use truely private coins and don't exchange for fiat. You can't monitor what you can't track. :)