In Reply to: Re: Trump recession full throttle, market in free fall posted by LeftyBruin on February 27, 2025 at 16:42:09
From the article: "Trump has since replaced the then-chair of the FDIC, Martin Gruenberg, by promoting Vice Chair Travis Hill to head the agency on an acting basis. Hill said in January that he wanted to "conduct a wholesale review of regulations" and "withdraw problematic proposals" of the Biden administration. He has also signaled that he wants to make it easier for nonbank financial interests, including cryptocurrency, to become part of the mainstream financial system."
So would Hill's plan include government agency backing of cryptocurrency accounts up to a certain amount? To me cryptocurrency is the wild west of banking that operates in ways that I'll never understand. Even giving it a veneer of legitimacy would be a very bad idea.