We know the US is all messed up when it comes to cryptocurrency. Gensler is running roughshod through the entire industry. Congress is providing no help.
In this video I discuss how Coinbase is the largest publicly traded company in the space and the US is trying to close its doors to it. Do you think it will be the only game in town in the public space in a few years? Where will those companies go?
▶️ 3Speak
FWIW, this Boomer almost bought Bitcoin for less than $1 (woulda shoulda coulda) but did start buying under $400. 😏
There are a few boomers ahead of the game. Good buy at $400 (not as good as $1).
This Gen X should have started to buy Tesla, pre splits, at $60..but didnt.
Oh well.
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Coinbase won't be the only game in town but I have a feeling that it will be tough for most of them to run without running into issues. So in a way, there will always be someone who is willing to take the risk/effort to earn the income.
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To paraphrase a popular gun control retort, "If crypto is illegalized, only criminals will have crypto!"
Hopefully they will get their heads out of their butts and get out of the way.
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@torran(6/10) tipped @taskmaster4450
I think for a while Binance didn't have a national headquarters when they were a crypto-only exchange. And I think that's the future of crypto companies, when we leave behind this notion that an organization or individual needs to be based in a physical country. Eventually everyone will work remotely from whatever location they see fit and decisions will be made via DAOs. In the meantime, nations will be competing for crypto businesses until fiat finally becomes irrelevant.
Summary:
Task talked about the current state of cryptocurrency regulations in the United States, specifically focusing on companies like Coinbase facing legal challenges. He speculated on the future of publicly traded crypto corporations and discussed the possibility of countries like the UK becoming crypto hubs. Task criticized the US regulatory approach to cryptocurrencies, mentioning countries like the UK, Middle Eastern nations, and Russia as potential contenders in the crypto industry. He highlighted the global appeal of cryptocurrency, the value of crypto companies, and the significance of institutional involvement. Task also criticized the lack of tech-savvy individuals in US government leadership and expressed concerns about the US falling behind in the technological race.
Detailed Article:
In his latest video, Task delves into the intricate world of cryptocurrency regulations, particularly focusing on the ongoing legal battles faced by prominent companies like Coinbase. He emphasizes the challenges posed by the regulatory environment in the United States, where companies are struggling to navigate ambiguous rules and regulations, exemplified by Coinbase's lawsuit against Gensler for clarity on compliance.
Task speculates on the future landscape of publicly traded crypto corporations, stating that Coinbase is just one of many players in the market and predicting the emergence of new companies venturing into the space. He discusses the possibility of countries like the UK becoming crypto hubs and ponders the idea of these companies listing on different exchanges, like the London Stock Exchange instead of NASDAQ.
The global nature of cryptocurrency is a key theme in Task's discussion as he points out that various nations, including the UK, Middle Eastern countries, Russia, and China, are eyeing opportunities in the crypto industry. Task highlights the immense market capitalization of companies like Coinbase and underscores the continued interest and investment in the industry, evidenced by Visa's reported plans to incorporate stablecoins.
Furthermore, Task criticizes the lack of tech-savvy leadership in the US government, deriding the aging politicians who oversee crucial regulatory decisions in a rapidly evolving technological landscape. He voices concern about the US potentially falling behind in areas like cryptocurrency, AI, and quantum technology due to outdated laws and regulations, emphasizing the need for the country to compete globally.
In conclusion, Task paints a vivid picture of a dynamic and competitive crypto industry, underscoring the importance of regulatory clarity, global perspectives, and technological adaptation for countries and companies to thrive in the ever-evolving landscape of cryptocurrency.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.
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