Crypto-assets and decentralized finance through a financial stability lens
1–10 of 42 posts
Re: Crypto-assets and decentralized finance through a financial stability lens
#2Can’t understand why the fed wants to regulate tulip bulbs. What’s next a paper on beanie babies?
Re: Crypto-assets and decentralized finance through a financial stability lens
#3Can’t understand why the fed wants to regulate tulip bulbs. What’s next a paper on beanie babies?
I see at least two huge reasons:
- The Fed decides who can use US dollars and what you can do with them; stable coins provide ways to evade such mechanisms.
- It wants to avoid spillover in case the cryptocurrency market collapses entirely. Shadow banking and eurodollars played a role during the 2008 crisis.
Re: Crypto-assets and decentralized finance through a financial stability lens
#4Can’t understand why the fed wants to regulate tulip bulbs. What’s next a paper on beanie babies?
From TFA, "Same Risk, Same Regulatory Outcome"
Re: Crypto-assets and decentralized finance through a financial stability lens
#5Can’t understand why the fed wants to regulate tulip bulbs. What’s next a paper on beanie babies?
Did you even read the post? The conclusion:
> Innovation has the potential to make financial services faster, cheaper, and more inclusive and to do so in ways that are native to the digital ecosystem. Enabling responsible innovation to flourish will require that the regulatory perimeter encompass the crypto financial system according to the principle of like risk, like regulatory outcome, and that novel risks associated with the new technologies be appropriately addressed.
The Fed recognizes this is a new tech stack with potentially disruptive consequences. Reconcile that with this anachronistic tulip mania point of view you're parroting.
Re: Crypto-assets and decentralized finance through a financial stability lens
#6Can’t understand why the fed wants to regulate tulip bulbs. What’s next a paper on beanie babies?
Did you even read the post? The conclusion: > Innovation has the potential to make financial services faster, cheaper, and more inclusive and to do so in ways that are native to the digital ecosystem. Enabling responsible innovation to flourish will require that the regulatory perimeter encompass the crypto financial system according to the principle of like risk, like regulatory outcome, and that novel risks associa…
Crypto may, one day, find utility as part of the financial system (outside of drug deals, sanctions evasion, money laundering, tax minimisation, greater-fool scams, and Ponzi schemes), but its recent volatility has been in no way related to that.
Re: Crypto-assets and decentralized finance through a financial stability lens
#7Earlier quoted context omitted.
Did you even read the post? The conclusion: > Innovation has the potential to make financial services faster, cheaper, and more inclusive and to do so in ways that are native to the digital ecosystem. Enabling responsible innovation to flourish will require that the regulatory perimeter encompass the crypto financial system according to the principle of like risk, like regulatory outcome, and that novel risks associa…
Crypto may, one day, find utility as part of the financial system (outside of drug deals, sanctions evasion, money laundering, tax minimisation, greater-fool scams, and Ponzi schemes), but its recent volatility has been in no way related to that.
"one day" ?
Re: Crypto-assets and decentralized finance through a financial stability lens
#8Earlier quoted context omitted.
Crypto may, one day, find utility as part of the financial system (outside of drug deals, sanctions evasion, money laundering, tax minimisation, greater-fool scams, and Ponzi schemes), but its recent volatility has been in no way related to that.
"one day" ?
It's an HN thread on crypto. Mindless, non-substantive, thought/discussion-terminating cliché comments such as that one are sadly par for the course.
Re: Crypto-assets and decentralized finance through a financial stability lens
#9Earlier quoted context omitted.
"one day" ?
It's an HN thread on crypto. Mindless, non-substantive, thought/discussion-terminating cliché comments such as that one are sadly par for the course.
Quite a few allegations there. It seems like the simplest way to settle this discussion would be to point out a few practical applications of crypto that provide real utility to the finance system.
Re: Crypto-assets and decentralized finance through a financial stability lens
#10Earlier quoted context omitted.
Did you even read the post? The conclusion: > Innovation has the potential to make financial services faster, cheaper, and more inclusive and to do so in ways that are native to the digital ecosystem. Enabling responsible innovation to flourish will require that the regulatory perimeter encompass the crypto financial system according to the principle of like risk, like regulatory outcome, and that novel risks associa…
Crypto may, one day, find utility as part of the financial system (outside of drug deals, sanctions evasion, money laundering, tax minimisation, greater-fool scams, and Ponzi schemes), but its recent volatility has been in no way related to that.
I know people that have bought houses with MakerDAO loans.
Its utility is here. To say otherwise is just sticking heads in sand.