‘Decentralization illusion’: Central bank group urges regulation of DeFi crypto platforms
‘Decentralization illusion’: Central bank group urges regulation of DeFi crypto platforms
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‘Decentralization illusion’: Central bank group urges regulation of DeFi crypto platforms
Regulation Pros & Cons – Participate in the r/CC Cointest to potentially win moons. Prize allocations: 1st – 300, 2nd – 150, 3rd – 75.
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Yes, the people who exist to make money off of us moving money around are ‘concerned’ this new disruptive tech that will make the banks unnecessary, sure.
Know what’s an illusion? The dollars we’ve deposited with banks, due to fractional reserves.
Maybe an unpopular opinion: I think some regulation may be a good thing, they can reduce scams and rugpulls. That said, I would prefer a global governing body rather than scattered and haphazard national regulation.
Agree
I don’t think you want big banks involved in this regulation though. It’s actually probably the last entity you want involved.
It may be unpopular but it is certainly worth thinking about and discussing. I think my fear is switching one regulatory authority for another and winding up with the same issues.
Nah, I prefer the Wild West. This is real capitalism, if you invest in a rug pull or scam that’s kinda your fault no?
11 billion in overdraft fees in 2019. Are you trying to tell me that this fee can’t be prevented by technology seeing you don’t have the money in the account and denying payment. Of course it exists.
CBDC Pros & Cons – Participate in the r/CC Cointest to potentially win moons. Prize allocations: 1st – 300, 2nd – 150, 3rd – 75.
Sort comments as controversial first by clicking here. Doesn’t work on mobile.
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tldr; Regulators are increasingly concerned about platforms offering DeFi services that may not be as ‘decentralized’ as advertised.
This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Yes, i would also be worried in their shoes. You know, people moving out from traditional banking for a free to use de-fi environment means the bank groups start to bleed profits.
Regulation Pros & Cons – Participate in the r/CC Cointest to potentially win moons. Prize allocations: 1st – 300, 2nd – 150, 3rd – 75.
Sort comments as controversial first by clicking here. Doesn’t work on mobile.
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.
Yes, the people who exist to make money off of us moving money around are ‘concerned’ this new disruptive tech that will make the banks unnecessary, sure.
Know what’s an illusion? The dollars we’ve deposited with banks, due to fractional reserves.
Maybe an unpopular opinion: I think some regulation may be a good thing, they can reduce scams and rugpulls. That said, I would prefer a global governing body rather than scattered and haphazard national regulation.
Agree
I don’t think you want big banks involved in this regulation though. It’s actually probably the last entity you want involved.
It may be unpopular but it is certainly worth thinking about and discussing. I think my fear is switching one regulatory authority for another and winding up with the same issues.
Nah, I prefer the Wild West. This is real capitalism, if you invest in a rug pull or scam that’s kinda your fault no?
11 billion in overdraft fees in 2019. Are you trying to tell me that this fee can’t be prevented by technology seeing you don’t have the money in the account and denying payment. Of course it exists.
CBDC Pros & Cons – Participate in the r/CC Cointest to potentially win moons. Prize allocations: 1st – 300, 2nd – 150, 3rd – 75.
Sort comments as controversial first by clicking here. Doesn’t work on mobile.
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.
tldr; Regulators are increasingly concerned about platforms offering DeFi services that may not be as ‘decentralized’ as advertised.
This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Yes, i would also be worried in their shoes. You know, people moving out from traditional banking for a free to use de-fi environment means the bank groups start to bleed profits.