Banning cryptocurrencies is a foolish idea; all we need to do is regulate the exchanges.
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Stablecoins have removed this dependency mostly… a lot of the naive retail investors leave their money all in shady USD pegged tokens rather than caring so much about the actual USD off ramp. Look at the Tether volume/supply.
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Just make them have the same KYC requirements as banks and disclosure and risk management rules for either banks, mutual funds, or money market funds.
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