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RE: Regulating Cryptocurrency : Australia Makes its Move

in #bitcoin8 years ago

Bitcoin is clearly going to be regulated and more mainstream.
Did you notice that countries giving legal framework to cryptos are mostly competing with the US (China, Russia...).
The US has no incentives to do so as it gets so much money and soft power from its Global currency, the USD.

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I did notice that trend and believe that cryptocurrency is going to become an increasingly bigger platform of dispute between many major powers in the future. A return to a gold standard or accountable money isn't something the US would like to see at the present moment. Thanks for your comment!

Gold Standard is now part of the past. But USD is a true power for the US.
I am just thinking about this anecdote from BNP Paribas (French Bank):

  • US had sanctions against Iran
  • Europe had lifted sanctions for some part of the economy, therefore BNP Paribas settled some trades with Iran
  • US Court convicted BNP for trading with Iran and extorted $9.6bn
    How did this happened? BNP cleared the trades in USD (dumb) therefore US Justice Department could fine them even if they respected their homeland laws.
    Crazy...