|
Author of "101 Projects"
Join Date: Jan 1995
Location: Rolling Hills Estates, CA
Posts: 27,054
|
In case anyone missed it, this week, the Basel Committee (which includes the Fed, and the ECB) this week made the recommendations to set reserves for banks holding Bitcoin to be at 100% the face value of the Bitcoin. I.E. for every Bitcoin "held" by the bank, it would have to have an equivalent in dollars, euros, etc. This means that they value any crypto as a super high-risk asset that has no intrinsic value on the balance sheet. This didn't get a lot of press this week (along with the 1,100 "money launderers" in China), but this doesn't really seem to bode too well for mainstream adoption?
-Wayne
P.S. except for the Goldman article and the El Salvador news, the articles above seem to be mostly negative? (The PayPal one seems neutral).
|