The Administration’s Roadmap to Mitigate Cryptocurrencies’ Risks

[peanut56]

https://www.whitehouse.gov/nec/briefing-room/2023/01/27/the-administrations-roadmap-to-mitigate-cryptocurrencies-risks/

 

White House briefing regarding cryptocurrencies. Date: January 27, 2023

[Julian_Williams]

All I can say is that America is ostracising itself from the utility developments that are already heating up and beginning to establish themselves in the rest of the world.  The only outcome will be that the new Silicon valleys will purposely decide to set up outside US jurisdiction, and is that really a bad outcome?   

[peanut56]

I think the U.S. is in a position, due to being the main international liquidity provider, to stall development of technology that can and will dethrone the USD. The issue with this is then they also push the technology out of the country and in the end the economy will suffer from their inability to evolve. Long story short, the USD will no longer be needed. That said wouldn't it be best to have the companies working on such technology to reside within your own borders.

[BillyOckham]

1 minute ago, peanut56 said:

That said wouldn't it be best to have the companies working on such technology to reside within your own borders.

That is the sad part.  Many times a countries entrenched industries hobble the new technologies that would be good for everyone except the very top owners of those entrenched industries.

Australia for instance could have been at the forefront of renewable energy production and everyone could have profited greatly from that.  Sadly the oil, coal and gas exporters had too strong a grip on all the governments that came and went during that opportunity period.

Lost opportunities because because of incumbent resistance is a recurring theme in these fast paced and changing times.