How do you ban this? It’s not part of swift or any us govt. backed global financial rails. If Iran(a sanctioned entity) supports this then this is more proof that the thing works.

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LPisGood 4 hours ago | parent | next [-]

I’m not gonna comment on if it’s a good idea or not, but the US government could make it illegal for any financial institution that does business in America interacting with crypto.

They could also make it illegal for any US financial institution to do business with any financial institution that interacts with crypto.

They could probably also make it a crime to buy/sell crypto in America.

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bruce511 3 hours ago | parent | next [-]

They could do all those things. But they won't. This administration is all-in on crypto, it's a key mechanism for receiving gift. They're not gonna cut it off.

Its also trivial to turn your crypto into yuan and your yuan into $. So I'm not sure such a ban would be even remotely effective.

	▲	furyofantares an hour ago \| parent [-]
		> They could do all those things. But they won't. This administration is all-in on crypto, it's a key mechanism for receiving gift. They're not gonna cut it off. This comment chain starts with "Maybe after the mobster losers in the white House finally get kicked out we can just ban this thing forever."

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sheikhnbake 4 hours ago | parent | prev | next [-]

I wish I could pick the brain of banking finance expert on how feasible/realistic that could be after the cartel and FTO money laundering fiasco.

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bogota an hour ago | parent | prev [-]

[dead]

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donkyrf 4 hours ago | parent | prev | next [-]

China already bans crypto. If America and Europe followed suit, the market for crypto would quickly collapse

	▲	iamkrazy 3 hours ago \| parent [-]
		China has banned crypto about a 100 times now.

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bigyabai 4 hours ago | parent | prev [-]

> How do you ban this?

In America? KYC would suffice.

	▲	anukin 4 hours ago \| parent \| next [-]
		America is not the world. They can’t go and sanction companies operating out of China or Japan who want a safe passage through hormuz. Especially now that the military power that supports the sovereign guarantee of US dollar is under siege.
	▲	smallerize 3 hours ago \| parent \| prev \| next [-]
		> > Iran Starts Bitcoin-Backed Ship Insurance for Hormuz Strait > In America? No.
	▲	3 hours ago \| parent \| prev [-]
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