this post was submitted on 31 Jul 2025
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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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Oh Boy, it's Great Depression 2: Electric Boogaloo!

[–] deathbird@mander.xyz 11 points 1 day ago* (last edited 1 day ago)

Whoohoo Viva Ponzi baby!

Edit: But also very little is being said here.

[–] jaemo@sh.itjust.works 17 points 1 day ago

I see we're putting the crypto in cryptofascist.

Or maybe it's the other way around.

Something something Venn diagram is a circle something.

[–] lechekaflan@lemmy.world 10 points 1 day ago

Those greedfuck assholes. Never fucking learning anything.

[–] whotookkarl@lemmy.dbzer0.com 23 points 1 day ago* (last edited 1 day ago)

Unregulated capitalism is tool of fascists

speedrunning the destruction of the us economy and the fall of the us. you love to see it.

[–] 474D@lemmy.world 75 points 2 days ago

Sounds like another pump and dump scheme to inflate prices of popular crypto, which trump and his buddies already bought cheap, sell high, and then reverse the process after profits have been made. All this guy knows is money. It's not even the value, just getting a payday is his high.

[–] bacon_pdp@lemmy.world 130 points 2 days ago (4 children)

So to match the fraudulent government, the USA is going to have an entirely fraudulent market and soon after an entirely fraudulent currency.

[–] rozodru@lemmy.world 3 points 1 day ago

soon? it always has been. Does no one remember the whole CDO shit? buying insurance on bullshit loans or packaged loans/debts of quite literally shit? no one knew what the fuck was in those things, literally no one. The rating agencies would rate these things and have no fucking clue what the hell they were. They handed loans out like halloween candy to Americans just to get more shit into these things.

the US Market has been fraudulent for decades.

[–] Reverendender@sh.itjust.works 55 points 2 days ago (3 children)

I would argue that the market has been fraudulent for some time now, but otherwise yes

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[–] oh_@lemmy.world 25 points 2 days ago

Ready for another crash.

[–] overload@sopuli.xyz 68 points 2 days ago (32 children)
[–] UnpopularCrow@lemmy.world 63 points 2 days ago (3 children)

Well the head of the EPA called climate change “a religion” so that ship has sailed for the US.

[–] muusemuuse@sh.itjust.works 29 points 2 days ago (5 children)

Wouldn’t it be funny if it got special protections because it was declared a religion?

[–] UnderpantsWeevil@lemmy.world 16 points 2 days ago

Religion [Evil Islamic] not Religion [Glorious Christian]

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[–] Kronusdark@lemmy.world 36 points 2 days ago (48 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?

[–] iopq@lemmy.world 10 points 2 days ago (1 children)

It's easy to transfer to other countries. Ever tried to send $20 to another country like Kazakhstan? It's a nightmare

[–] utopiah@lemmy.world 1 points 21 hours ago

easy to transfer to other countries

Also easy to transfer with IBAN and relatively cheap ... so I guess other countries that do not rely on IBAN?

[–] deafboy@lemmy.world 7 points 2 days ago (1 children)

I used to buy a lot of pizza and burgers with bitcoin when I did night shifts. Still use it to buy electronics at least once a month.

It's also the best way to donate to nonprofit projects. I can just send ~ $10 of value, one time. No need to risk accidentally signing up for a monthly subscription or being bombarded by spam.

If you don't keep 100% of your monthly budget in BTC, you don't really care about the volatility either, because long term it always goes up.

[–] breecher@sh.itjust.works 1 points 1 day ago

None of your examples are examples of what it is good for, since they can all be done by other means.

[–] wampus@lemmy.ca 20 points 2 days ago (1 children)

It's a really good way to bribe politicians and public figures.

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

It's traceable and immutable. It's a bad way to do anything illegal.

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[–] Imgonnatrythis@sh.itjust.works 22 points 2 days ago (4 children)

It's not untraceable, but it's way more anonymous for routine purchases than CC. Also with all the nonsense the CC companies are pulling lately, it's a nice example of why de-centralized, unbanked fiat has real value. Personally I use it for search engine subscriptions and paying VPN fees with at least a layer of "hey, you can't sell my demographic data or send me junk mail" privacy. Also if you want to send money to someone without using venmo type garbage, it's super easy and flexible even if you don't have the same type of crypto as the person you are sending to. It's huge for sending money internationally as there are big fees associated with international money brokers when involving traditional fiat.
The mantra of crypto as a scam is wrong. It's just seriously overvalued and has been turned into scam as an investment commodity. The technology itself, at least modern scalable versions that don't require AI level nuclear power plants to scale, is not flawed. The fact that the archiac unscalable bitcoin prototype is still the most valued is a great example of the mismatch between real world value and the fucked up crypto marketplace.

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[–] ZILtoid1991@lemmy.world 11 points 2 days ago

If things go as they do, then it'll be your only option soon to pay for porn.

[–] REDACTED 7 points 2 days ago* (last edited 2 days ago) (2 children)

Yes. Can you imagine my surprise when my drug money suddenly became mainstream? You could also buy weapons and order an assasin online.

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[–] oppy1984@lemdro.id 4 points 2 days ago

Crypto (ETH and the like) is useful for it's protocol, you can build projects on it.

Bitcoin is a good store of value, and with lightning payments starting to be accepted it could be a good way to pay for goods and services. The third world is currently using lightning to circumvent inflationary currency swings.

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[–] Nougat@fedia.io 31 points 2 days ago (2 children)

Deregulate? Because there's oh so many regulations already?

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[–] BarneyPiccolo@lemmy.today 5 points 1 day ago

Sure, because of all the things that we could loosen regulations on, CRYPTO should be at the top of the list. After all, we have only people with the most unquestionable integrity involved. /S

[–] neon_nova@lemmy.dbzer0.com 27 points 2 days ago (4 children)

Will this mean that I won’t need to report every single transaction on my tax returns?

It would be real useful to use crypto for international money transfers.

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[–] paraphrand@lemmy.world 19 points 2 days ago* (last edited 2 days ago) (4 children)

Crypto should want more regulation and they should want the public educated on why this makes crypto safe.

Crypto is already largely seen as a scam, one that many privately mess with, but this won’t help that perception.

Edit: Dude, I never implied it wasn’t a scam. That goes without saying. I was merely stating what I sense public perception is.

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