China’s crypto crackdown may be DC’s blueprint

Source: The Hill
by Kristin Tate

“China recently announced a major crackdown on cryptocurrency. The relative ease of use of existing currencies such as Bitcoin and Ethereum and their transparent operating code is apparently too much for the People’s Republic to allow its citizens to use. The development mirrors an apparent, but not as well-defined, push by Biden administration officials and members of the media to sink, or at least control, the crypto market. … A unique mixture of regulation, media frenzy and taxation could neuter the entire concept of a decentralized, free market system that Bitcoin, Ethereum, Dogecoin, et. al. represent. When that day occurs, the ability for free citizens to hold value outside of a rapidly-inflating U.S. dollar disintegrates.” (06/01/21)

https://thehill.com/opinion/finance/556217-chinas-crypto-crackdown-may-be-dcs-blueprint