|
Title: [2021-07-06] Swiss UBS Warning: Reg crackdowns could pop crypto markets bubble Post by: hv_ on July 06, 2021, 12:21:27 PM https://markets.businessinsider.com/news/stocks/bitcoin-btc-unsuitable-professional-investors-regulation-china-binance-ubs-2021-7
Crackdowns by regulators make bitcoin unsuitable for pro investors and could pop the bubble, UBS said. The bank pointed to China clamping down on mining, and the growing concern over crypto in the UK and US. It also said the common practice of trading crypto with leverage is likely to draw regulators' attention. https://decrypt.co/75238/ubs-regulatory-crackdowns-could-pop-bubble-like-crypto-markets https://cointelegraph.com/news/investors-stay-clear-ubs-warns-regulators-could-pop-bubble-like-crypto-markets ... Title: Re: [2021-07-06] Swiss UBS Warning: Reg crackdowns could pop crypto markets bubble Post by: bbc.reporter on July 08, 2021, 05:46:08 AM This will not be very surprising anymore after witnessing China’s own regulatory crackdown. There might be some people who would say that they were expecting it when they would have said fud before witnessing China’s move hehehe.
I also speculate the next crackdowns might be on Tether and other stablecoins. This would wipe out liquidity in the cryptospace by more than 50%, I reckon. Title: Re: [2021-07-06] Swiss UBS Warning: Reg crackdowns could pop crypto markets bubble Post by: Lucius on July 08, 2021, 12:28:18 PM I also speculate the next crackdowns might be on Tether and other stablecoins. This would wipe out liquidity in the cryptospace by more than 50%, I reckon. That part of the cryptosystem for me is not supposed to even exist, because we all know how easy it is to create stablecoins and say that 1 such coin is always backed up with $1, and in reality, things are actually much different. Of course, the authorities will focus especially on this part, because they understand that someone is printing digital currency without anything behind it, and that they are abusing the system. People have accepted stablecoins as something completely harmless and normal, and no one thinks they have actually allowed the authorities to create chaos at any time by saying "stablecoins are illegal". Unlike Bitcoin which is hard to take away if everyone is their own bank, stablecoins (with a few exceptions) can be frozen in any wallet. Title: Re: [2021-07-06] Swiss UBS Warning: Reg crackdowns could pop crypto markets bubble Post by: SFR10 on July 09, 2021, 07:07:38 AM To an extent, they do have a point but I have a strong feeling that there's an ulterior motive behind that UBS warning [especially since it came from a bank of some sort].
~Snipped~ Amen to that! |