World News

22168 readers

10 users here now

Breaking news from around the world.

News that is American but has an international facet may also be posted here.

Guidelines for submissions:

Where possible, post the original source of information.
- If there is a paywall, you can use alternative sources or provide an archive.today, 12ft.io, etc. link in the body.
Do not editorialize titles. Preserve the original title when possible; edits for clarity are fine.
Do not post ragebait or shock stories. These will be removed.
Do not post tabloid or blogspam stories. These will be removed.
Social media should be a source of last resort.

These guidelines will be enforced on a know-it-when-I-see-it basis.

For US News, see the US News community.

This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 3 years ago

MODERATORS

Argentina opposition calls for impeachment of Javier Milei after cryptocurrency collapse (www.theguardian.com)

submitted 4 days ago by Powderhorn to c/news

12 comments fedilink hide all child comments

It's almost like crypto is in general a scam.

you are viewing a single comment's thread
view the rest of the comments

[–] jarfil 6 points 3 days ago* (last edited 3 days ago) (1 children)

Crypto is not the scam.
It's the next step after VISA cards.
After digital money ledgers.
After Fiat money.

Market manipulation is the scam.
After deregulation.

[–] Powderhorn 1 points 3 days ago (1 children)

I'm not going to go wildly out of the scope of the topic, but yes. Any reasonable person knows this is where fiat currency goes.

[–] jarfil 1 points 3 days ago* (last edited 3 days ago)

It doesn't need to.

Since 2020, the EU has been working on crypto regulation: obligatory KYC and AML, financial knowledge assessment to allow buying ETFs, crypto, margin trading, with matching risk limits and required customer protections similar to stock trading, traceability, ban on privacy tokens, extra rules for meme coins, flagging and blocking of suspicious operations.

From Dec 30, 2024, in the EU these rug pulls are legally restricted to only people who can afford to lose the money, and are informed of the risks, and can prove it. Anyone offering vulnerable people entry to the casino, is breaking the law, with huge fines attached.