Re:Diem – A rebrand of Facebook’s Libra
by colordrops on Sunday December 06, 2020 @02:01PM
(#25325693)
You changed the subject completely. What does your comment have to do with it being regulated or not?
[ Parent
| on HN ]
You're trying to make a semantic argument and say that cryptocurrencies aren't regulated until you sell them for other currencies that are. My counterargument--where admittedly I skipped some steps and didn't explain very well--is that that turns cryptocurrencies into a commodity, not a currency, and that cryptocurrencies are particularly valueless commodities.
FWIW, you're saying that while cryptocurrency stays on the blockchain it's not regulated. That's definitely not true in the US--people have gone to jail for not complying with financial regulation and reporting laws [1]--and is likely soon to be even less true [2].
[1]: https://digitalcommons.nyls.edu/cgi/viewcontent.cgi?article=...