White House Wants Crypto Rules as a Matter of National Security (BTC takes another hit)

Barron's ^ | 1/27/22 | Daren Fonda

[C210N]

The Biden administration is preparing to release an executive action that will task federal agencies with regulating digital assets such as Bitcoin and other cryptocurrencies as a matter of national security, a person familiar with the White House’s plan tells Barron’s.

The national security memorandum, expected to come in the next few weeks, would task parts of the government with analyzing digital assets and assembling a regulatory framework that covers cryptos, stablecoins, and NFTs, or non-fungible tokens, this person...

[C210N]

Another nail on the coffin of BTC

[brownsfan]

Dems: Hey, this crypto currency thing is working and we aren’t getting our tribute. Ok, time to mess it up.

[George from New England]

Hell NO !

One day can’t pass without more crap in our face.

[srmanuel]

I’ve been a cryptocurrency advocate for this very reason, the US Government is never going to allow another currency to challenge the US Dollar within the US

[srmanuel]

Typo I’ve never been a cryptocurrency advocate

[jimpick]

I don’t think that is what they are after. They want to control your spending. Same way they are controlling the news. Just more of their communist play book. If they don’t like what you say they take your money or just freeze your accounts.

[Jewbacca]

This has ZERO to do with national security.

It’s about CONTROL and TAXATION.

Just more stuff to steal.

[KarlInOhio]

With the dollar being destroyed and the feds looking to regulate cryptocurrency to death, pretty soon we will be down to battering with Beanie Babies. And you thought your maiden aunt was crazy buying hundreds of them.

[RushIsMyTeddyBear]

Bingo!

[hinckley buzzard]

The whole financial industry has bought into crypto in a big way, mostly beneath the radar. At this point, it is too big to be just brought down. Instead I expect the government to seek to regulate it and find a way to suck revenue from it. There is a couple trillion dollars at stake, and the government wants its cut.

[Brian Griffin]

“pretty soon we will be down to battering with Beanie Babies”

computer chips

auto parts

[Brian Griffin]

As long as your credit balance is positive at Mo’s storefront finance, don’t worry Jihadists.

[Rurudyne]

Their power … their control … their own security when they reign over us.

[Pearls Before Swine]

It’s about CONTROL and TAXATION.

Yep, follow the money.

[SecondAmendment]

This has ZERO to do with national security.

Oh yes it does, however just like "democracy", it is the leftist/fascist definition of the term ...

[Freee-dame]

Dems always say OUR democracy. Maybe it has a special definition.

[packagingguy]

They shouldn’t mess it up, and yes it is already taxed just like any other investment. That is the biggest problem to using it for everyday transactions...you have to keep up whether you have made or lost money on it for capital gains taxes. So for larger purchases they make sense. However, the government doesn’t need to kill it, especially by executive action and not by law.

[Honest Nigerian]

The financial industry is doing crypto because they can make money at it. No other reason. They don’t see it as an investment. It is just another currency.

[Nateman]

The Feds have a very clever wealth tax in effect.They print money out of thin air, then they get to spend it first. We feel the scam as inflation. Objects that get inflated once sold get the Capital Gains tax hit, even if the rise in price was only due to inflation! Not only that but any debt gets partially erased as well with inflation. The best part, from a tyrannical swamp creature point of view, most people fall for all the bogus explanations of what inflation is!

The Feds hate bitcoin because it weakens their ability to steal from us.

[SaxxonWoods]

Who could have seen this coming.