this post was submitted on 31 Jul 2025
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SEC says it will deregulate cryptocurrencies with 'Project Crypto' (qz.com)
submitted 2 days ago by tonytins@pawb.social to c/technology@lemmy.world
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In a Thursday speech, U.S. Securities and Exchange Commission (SEC) chairman Paul S. Atkins announced “Project Crypto,” an initiative to modernize the country’s securities rules and regulations to move financial markets on-chain.

“Under my leadership, the SEC will not stand idly by and watch innovations develop overseas while our capital markets remain stagnant,” he said at an America First Policy Institute event in Washington D.C. His plan includes measures to reshore crypto businesses that have left the country and to ensure that “archaic rules and regulations do not smother innovation and entrepreneurship in America.”

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[–] iopq@lemmy.world 6 points 1 day ago (1 children)

You mean the value that crashed like 30% over two years? At least bitcoin went back up

[–] Lumisal@lemmy.world 1 points 1 day ago (1 children)

It rebounding and crashing by hundreds in value like a meth head on caffeinated cocaine laced with LSD is what doesn't make it a currency.

No one wants a shit currency where one day a donut costs 1000 and the next 2000 and on the weekend it's either 599 or 3999.

That's why it's at best a speculative asset, except it's dumber than that because it's intangible. It's like the long term stupidity of fiat mixed with insane instability, all while using way more resources.

[–] iopq@lemmy.world 1 points 22 hours ago (1 children)

Same thing happened to the Argentine peso, let's not pretend if you make a government currency it's magically stable

[–] Lumisal@lemmy.world 1 points 18 hours ago (1 children)

The Argentine peso crashed and then stayed down. That's actually a sign of stability, because it's remaining at a constant, not jumping up and down wildly.

It didn't crash only to go back to original value to the decrease by half and undulate like a wave, like Bitcoin and other crypto does.

[–] iopq@lemmy.world 1 points 11 hours ago (1 children)

What are you talking about? It crashed, then crashed again, then crashed again. How is that stable?

[–] Lumisal@lemmy.world 1 points 10 hours ago

You mean all crashes then? The 3 that have happened in over ONE HUNDRED YEARS?

You can't be fucking serious to compare that fluctuation with Bitcoin's