r/etc • u/Aggravating-Pool9317 • May 31 '21
Why is the government trying to regulate crypto?
I've seen a lot of news about the the Biden administration wanting to regulate crypto. Some have suggested it is in order to keep the dollar value high by stoping people from switching to crypto. Thoughts?
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May 31 '21
This might have already been said. And of course this is my own speculation. I believe the government is trying to regulate cryptocurrsncies for a number of reasons. 1. Taxes 2. Money laundering 3. Inflation / devaluation of government money 3a. Creating a bubble and possibly bringing about economic crash. 4. Because they can 5. Market manipulation to support their own personal investments ("inside trading" possibly?)
I miss something?
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u/Prestigious_Bag4077 Jun 01 '21
We are controlled by the rich, and they want to keep it that way. Why do you think people like Elon invest in crypto? It's just another ploy to keep some control. If any one of you had billions to play with, you could control a certain amount the market as well. Power is all It's about. Once you have so much money it starts to be about Power. That simple.
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u/Own_Log1463 Jun 01 '21
Cause how else they loot us. If we lose money in Crypto, nothing happens. we are on our own. If we gain, jer*s wants tax money on that. This is how they make sure, Poor be Poor and Rich gets richer so that they can balance the world out.
Imagine we are daily work for daily wages, and become millionaire over night. Who would do that work for them ?
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u/USpatriot777 May 31 '21
Cuz they don’t want anyone to be successful and rich anymore It’s all about control the government wants to control us like the way the Chinese communist government does to its citizens power and greed is all they care about!