Opinion | Don’t let crypto get a foot in the vault
— Opinion, Traditional, Banking, System, Understand, Taxpayer, Cryptocurrency, Vault, Serves, Dont — 1 min read
Some lawmakers are proposing allowing cryptocurrency companies to have access to the banking system without the safeguards that apply to traditional banks. I don’t understand what purpose cryptocurrency serves other than something to gamble on. I lived through that during the 2008 financial meltdown. I don't want my taxpayer dollars to be used to bail out risky crypto firms that are unable to meet their obligations. I live through that. I didn't own any investments involving cryptocurrency and probably never will. It's a gamble on, but I'm disappointed to read in the July 5 news article “ Experts fear part of new bill could destabilize traditional banking system’s ‘deteriority” that some lawmakers propose allowing cryptocurrency firms to access to banking system. Source