Column: The government crackdown on crypto is well underway. Get out while you can
Los Angeles Times/Michael Hitzik/2-17-2023
“The sun may be setting on the cryptocurrency craze. If you’re an investor or even just a curiosity-seeker on the fringes of this financial segment, you might want to prepare for its demise.…’There’s no there there, and we have plenty of history to prove it,’ Lee Reiners, a crypto expert at Duke and former regulatory official at the Federal Reserve Bank of New York, told the Senate Banking Committee at a hearing Tuesday.”
USAGOLD note: Has the regulatory hammer dropped? One positive contribution the crypto industry made over the years was awakening a vast army of investors to the dangers inherent to the fiat money system and the merits of including a safe haven in one’s portfolio plan. Many of those investors, in our view, will migrate to gold as difficulties mount in the crypto sector.