Anonymous 27
Anonymous AnonymousOpposeIndividual
Summary: An individual opposes the creation of the proposed organization, citing a lack of transparency regarding ownership and regulation. The commenter argues that the institution should be regulated like any other US business to protect taxpayers from potential risks associated with cryptocurrency.
I am against the creation of this organization. Purportedly, the bank is composed of “stable coins”. The investors are paid no interest on their “stable coins” so the owners keep the interest. Who are the owners of this bank, who are the principal investors, and under what regulations does this bank fall. There is a distinct lack of transparency. This bank or institution should be regulated like any other business in the US. Crypto at its best is problematic, at its worse is a device for hackers, scammers, terrorists, and criminals. Again regulation is the key to this as, if it becomes too big, I’m sure we, the taxpayers will end up on the hook again.