Oh no! the government is asking exchanges to register with a government agency! Heavens to Betsy! A judge ruled that cryptocurrencies can be regulated like commodities! What are we ever going to do? Start by buying more cryptocurrency.
Let's take a look at this ridiculous quote.
Many platforms refer to themselves as "exchanges," which can give the misimpression to investors that they are regulated or meet the regulatory standards of a national securities exchange
So basically crypto-investors are either
- Stupid
- Ignorant
- Only want to trade in cryptocurrency so long as it's regulated
Here's what everyone's expectations are. Cash goes in, coins come in, coins come out, cash comes out.
But yes, please. Let us all lose our heads and FUD ourselves up the ass while the rest of us who aren't STUPID continue to buy at this new discounted price. Thank you Federal Government for saving me some money and for accidentally making crypto-currency have more legitimacy since actual retarded investors are going to waddle in with their pants down by their ankles, ooing and awing at regulatory "protection", buying high and selling low and doing the rest of us a big time favor. These laws never have a long term negative effect. We're soaring. It may hurt the people operating the markets(since calling them exchanges triggers the government) but who cares. Privacy coins are getting better, instant transactions are getting more affordable, more problems are being solved.
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https://www.coindesk.com/us-judge-rules-cryptocurrencies-are-commodities-in-cftc-case/