Washington is rushing to regulate crypto. It’s a mess.
NBC News: The wild swings in crypto prices this year have enthralled and disheartened investors, alarmed Wall Street and focused the attention of regulators and lawmakers who already had cryptocurrency in their sights.
“so that no one may buy or sell, except he who has the mark or the name of the beast or the number of his name.” Revelation 13:17 KJV
With shares of Coinbase, a prize of Silicon Valley investors who placed early bets on cryptocurrency markets, swinging along with the price of Bitcoin, tech is worried too.
The soundness and stability of cryptocurrencies has gone from a fascination of early, enthusiastic adopters to a mainstream concern. One particular worry is the ability of vague tweets from a single person — Tesla CEO Elon Musk, who has mixed his personal ardor for cryptocurrencies with the electric-vehicle company’s business — to send crypto prices gyrating.

Washington once seemed befuddled by cryptocurrency, handing out confusing rulings. But the SEC is now chaired by Gary Gensler, who taught a course on blockchain at MIT. He made it clear at a recent House committee hearing that the crypto industry could come under greater regulation. Read More
