Central banks: it is more and more war on cryptocurrencies

Steve Forbes, president and chief editor of Forbes Media, in a video posted this morning in Forbes, reiterated his view that central banks and regulators are stepping up their fight against cryptocurrencies, citing the statement as a more recent example. of the SEC (Securities and Exchange Commission, or the US federal body responsible for supervising the stock exchange) to want to sue Coinbase Global if it goes ahead with its intention to launch "Lend".

The latter is a loan program that plans to pay interest to those who will keep their digital currency there. However, according to Forbes, this type of action would be very unusual, as usually, if there is a problem, negotiation takes place behind closed doors until a compliance agreement is reached.

"Regulators fear that cryptocurrencies could become alternatives to the traditional banking and financial system and, worse still, provide viable substitutes for government currencies," Forbes said, according to which the SEC wants to regulate the Coinbase Lend function to create a precedent, so as to have the ability to stop other companies that are already offering loans on their platforms. In short, it would be a test of strength.

“The SEC wants a precedent to stop it, or at least to slow it down dramatically. The conflict between governments and the crypto world will change many times more. Regulators and Congress are just waiting for a huge market correction to move much more aggressively and impose rules on cryptocurrencies. " in the end, Forbes is convinced that national governments will have to come to terms with these new realities.

by Alessandro Crea

Thursday 16 September 2021 14:00

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