AA NewsBitcoinBTCEURBTCGBPbtcusdBTCUSDTCrypto banCrypto NewsRegulations

Bitcoin Ban in USA is Probable: Says Billionaire Ray Dalio

Hedge fund manager Ray Dalio shared his thoughts about the future of Bitcoin, stating that a crypto ban in the United States has “good probability.”
Dalio outlined how central banks are interested in controlling the supply and demand of their respective country.
They [banks] decided it was in their interest to have a monopoly on banking in a country,” adding that when other types of money, like crypto, create their own supply and demand “things could go bad.”- He said.
Banks Don’t Want Competitors
The crypto market is enjoying a great bull run thanks to the institutional push for cryptocurrencies. Investment firms, managers, and other corporations like Goldman Sachs, VanEck, and Fidelity have filed submissions to the Securities and Exchange Commission to launch a Bitcoin Exchange-Traded Fund (ETF). Naturally, this has led central banks to reconsider the impact of digital assets.
Ray DalioMore central banks are adapting to the emergence of new technologies in the fintech space – some even studying the possibility of issuing CBDCs (Central Bank Digital Currency). Although, that’s not the case with other institutions with a more aggressive approach towards digital assets, like India’s central bank.
As an example of strict regulation, Dalio pointed out the current situation in India. As reported by CryptoPotato, the country is moving forward with its plans to ban digital assets — halting crypto holding, trading, and even blocking exchange’s Internet Protocols (IP), according to an anonymous source from the Indian newspaper Business Standard.
India’s Finance Minister …
Story continues on Crypto Potato

Related posts
BitcoinBTCETHEthereumMarketsTrading

Bitcoin, Ethereum Primed to Rebound Despite Losses

Sidelined investors appear to be taking advantage of a recent downswing to reenter the crypto market. The sudden spike in buying pressure could help Bitcoin and Ethereum prices recover. Bitcoin Holds Above Crucial Support Bitcoin suffered a significant correction after…
BitcoinCompaniesNews

GrayScale Bitcoin Trust (GBTC) Premium Sinks To All-Time Lows

Since trading at a negative for nearly 2 months, GrayScale Bitcoin Trust (GBTC) premium plummeted to -14.21% this morning. Historically, GBTC has traded at a high premium relative to the underlying Bitcoin, commanding an average of 15.02% premium since the…
BitcoinBusinessMicrosoft

Microsoft’s ION Identity Layer for Bitcoin Is Now Live

Microsoft announced today that its ION layer for Bitcoin is complete, as reported in a blog post from the company. What Is ION? Microsoft’s ION Network is a Decentralized Identity (DID) network built on top of the Bitcoin blockchain as…