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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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[–] Kronusdark@lemmy.world 36 points 2 days ago (58 children)

Genuine question, is crypto good for anything other than gambling at the moment? I don't ever hear of anyone buying anything with crypto, only exchanging it out for USD. NFTs are basically a punchline now... what is it actually good for?

[–] prole@lemmy.blahaj.zone 3 points 1 day ago (3 children)

Monero is good for completely private and secure transactions. People often use it to buy drugs online... From what I've heard.

[–] icylobster@lemmy.world 1 points 1 day ago (2 children)

Don't a lot of platforms online not let you buy Monero because of this? Like how do people buy Monero through a reputable source?

[–] Knock_Knock_Lemmy_In@lemmy.world 5 points 1 day ago

Buy a reputable cryptocurrency then swap that for whatever you want.

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