Should the USA SEC government agency provide regulations to protect Bitcoin speculators or prevent the use of Bitcoin and other crypto currencies?
The Chicago Tribune article titled: Oversite urged in Crypto Market, reported the following statement by the Chairman of the USA Securities and Exchange Commission
“Right now, we don’t have enough investor protection in the crypto markets.”
The Purpose of This Post
Is to relate and ancient proverb to the statement and question why should the USA become involved in speculation of Crypto Bit Coins etc.
Like a fluttering sparrow or a darting swallow, an undeserved curse does not come to rest. (Proverb 26:2)
Cast but a glance at riches, and they are gone, for they will surely sprout wings and fly off to the sky like an eagle. (Proverb 26:5)
What’s My Point?
The reason for the Security Exchange is to protect USA investors from fraud??
My point is Crypto currency is not controlled by USA Treasury., so why should taxpayers’ taxes be used to protect Crypto currency use or speculative investments/.
In My Opinion
Anyone who invested in Crypto currencies should keep in mind the above ancient proverbial advice.
Why should the USA Government be concerned about Crypto currency investors or speculators taking risks or can be used for illegal purposes?
Is China Government wiser than the USA because they outlawed the use of Crypto currencies by banks in their Country while the USA Government wants to protect the use of bitcoin which Government cannot control when used for illegal purposes such as currency manipulation?
Read the Source Links Below
Chicago Tribune August 4, 2021
Wild Coins World