comment: >
  
  I trust Warren enough to support this bill even though I don't understand cryptocurrency and crypto exchanges to form a strong opinion on it either way.
context: Those things want to act like their as safe as banks, but they have no e of the safeguards or regulations as banks. >
  
  And we find out because they're regulated...
  With crypto we find out when "investors" realize there's nothing to withdraw >
  
  Plus WF was fined for millions, not to mention had to fix their mistakes, fire people and compensate consumers. Crypto has plainly caused bankruptcy for many. Unfortunate that Crypto backers (teens) are all rainbows and sunshine and don’t understand how world works. >
  
  To be fair, the free market is regulating itself by screwing over all of the people that didn't want protections lol.  All of they conspiracy types invest in crypto which serves no purpose.  They got hosed and maybe learn a lesson, or maybe didn't.  Either way, it's on them lol. >
  
  Call it "stupidity tax" >
  
  Full and detailed audit of any "stablecoins" and the auditor has to be 2 or more large western accounting firms. Their audits have to be submitted separately to the regulators and with zero cross communications.
  Otherwise the trade in these stablecoins should be treated as harshly as doing banking with North Korea. >
  
  Stable coins should only be allowed to be issued by the government of the respective currency. >
  
  Centralized exchanges that claim to keep customer's funds safe should absolutely be regulated and held accountable, very few reasonable actors would deny that.  Enforcing KYC standards on individual user accounts will only serve to drive innovation offshore and is practically infeasible.  As long as users pay their taxes, let them gamble I say. >
  
  What innovation? >
  
  Innovation in exploiting others and stealing their money through pump and dump telegram accounts. >
  
  This is a bad idea imo. Regulating just adds legitimacy to crypto it doesn’t deserve. Better do nothing or make it outright illegal