[garbthetill]

regulation from the US side sounds open with the genius act, plus the current admin is pro crypto. Regulations from other govs dont matter as they will just "geo block" countries that dont allow it and users will just bounce into the service with a vpn or proxy at their own risk, other crypto like btc , xrp has been used to cross border trade for a decade now even in countries with outright bans, the entities using it just work around it e.g have an operation in a country were its allowed or in the case of weak enforcement just dont care

Im not fully knowledgeable about banks, but i always thought the reason why regulation was so hard was because no one could agree on a common ground obvs each country wants to keep their moat with their own currency, but with crypto anyone can opt in at their own risk

[thrown-0825-1]

Current US admin is pro grift, bribery, and embezzlement.

Crypto is a just a tool that enables that. They have no interest whatsoever in democratization, self-custodial finance, or frictionless payments across borders for anyone but themselves.

Direct p2p payments a "hard problem" because it directly contradicts what we consider to be one of the central pillars of national sovereignty, control over your national currency.

Crypto as a whole is in denial about this because there is no path forward without expecting nations to either give up one of their most effective levers of control, or expecting them to turn a blind eye to external actors eroding that control in real time.

[CaptainOfCoit]

> what we consider to be one of the central pillars of national sovereignty, control over your national currency.

Who exactly is "we" here? Because that's not true in a lot of (sovereign) countries in the world. Probably the most famous example being the Euro, and maybe the closest example to you is the United States Dollar which is an official currency in countries that have no control over the currency itself.

[garbthetill]

I agree on the current admin being pro grift and just extracting as much as they can, but crypto works because it overwhelms the system, if a million people rushed a military base at the same time no matter how great the defense is, the base will be breached.

I dont have financial/economic knowledge to argue my point to a full extent, but ive been under the assumption that p2p payments was only hard because various countries could not find a common ground, not only because of keeping control , but also getting laws changed/passed in most democratic nations is hard and might not be worth the scrutiny, entities in charge of their country banking system and regulations also find it difficult to bring radical ideas

There has been a handful of items that have bypassed all of this way before crypto and that is precious metals & gem stones like gold, silver, ruby, emerald etc you could be in the middle of africa and you will find someone who will easily buy your gold. Crypto is just like this and instead of mother nature dictating for us what material is rare , we as the consumers decide which crypto protocol, dapp, token ,blockchain etc to use and with competiton a better or improved system will always arise and trading gold hasnt eroded control for most nations, people still want hard cash for their day to day.

[lifty]

[flagged]