One Step Closer… to Fedcoin, Ugh
Crypto, more specifically blockchain, is meant to be a decentralized way to own, use, define, accept, belittle, uplift… money. Decentralize being the operative word. Money exists for a reason. I have a couple cows. You have a bundle of turnips. How are we going to know which equals how much of the other. Oh, yeah, there’s this little thing called currency. The biggest innovation of the tech age is digitized money. Freedom for everyone! Yay. Whoops, what’s this? If it’s money, it must be regulated, right? The Biden administration released its “long-awaited” Executive Order targeting the digital marketplace. Just when we thought it would get better, the world-improvers stick their fat, gout-riddled feet right in the middle. The decree sets the stage for regulation down the road. But for now traders can breathe easy. There’s no set timetable. Basically, the regulatory agencies have been instructed to study the various issues with cryptos and make suggestions. More studies, please. Oh, and remember to file your taxes on time this year. Who else is going to pay for the new studies?