Ed Prepares To Regulate Crypto
My dilemma is that, as Minister for Commerce , I am involved in the discussions about regulating crypto and have to work to prevent this happening but, as a businessman, I want my share of the loot if it happens.
The Yanks are edging nearer and nearer to comprehensive regulation and where they lead we will surely follow.
Regulating stablecoins – crypto whose value is tied to a relatively stable asset – seems a reasonable thing to do but that doesn’t provide opportunities for speculative gains.
Regulating the super-volatile cryptos whose price fluctuates wildly on whim and manipulation is where the money is to be made and I am working with the big olayers behind these currencies to formulate a supportive regulatory regime.
In response, the crypto guys have been generous in providing me with a substantial crypto piggy-bank of my own.
The prices of these volatile cryptos will spike dramatically when regulation is announced because they will gain official respectability and will be used much more widely.
- Now it’s just a matter of waiting for the Yanks, placating the Treasury and trousering some substantial gains.