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Crypto is a 'Disease': Charlie Munger

 3 years ago
source link: https://nextbigwhat.com/crypto-is-a-disease-charlie-munger/
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Home Web 3 Crypto is a ‘Disease’: Charlie Munger
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Crypto is a ‘Disease’: Charlie Munger

  • “I’m proud of the fact I’ve avoided it… it’s like some venereal disease,” Munger, 98, said about Bitcoin at the annual meeting of Daily Journal Corp.
  • “We’ve already got a digital currency, that’s called a bank account,” Munger said, adding that he believes people only adopted crypto because of its usefulness in illegal activities like extortion, kidnapping and tax evasion.
  • For that reason, Munger “admire[s] the Chinese” for banning cryptocurrencies, adding that “they were right” while the U.S. has been “wrong” to allow them and should implement a similar ban “immediately.”

[Via]

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Coalition of US crypto firms unveils travel rule compliance platform, TRUST

  • A coalition of some of the US’s largest crypto firms is rolling out a solution to heightened anti-money laundering standards.
  • The travel rule has long been part of the banking world, but until recently, crypto lacked the infrastructure to comply.
  • Other travel rule solutions propose a more decentralized approach, in which the technology is usable by all, rather than a members-only platform where a group of firms decide who can compliantly transact.

[Via]

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