How did the repeal of the Glass-Steagall Act affect the regulation of digital currencies?

3 answers

• Dec 16, 2021 · 3 years ago
  The repeal of the Glass-Steagall Act had a significant impact on the regulation of digital currencies. With the repeal, commercial banks were allowed to engage in investment banking activities, which led to the emergence of large financial conglomerates. These conglomerates had the potential to influence the regulation of digital currencies through their lobbying power and financial resources. Additionally, the repeal removed the separation between commercial and investment banking, which could have affected the oversight and regulation of digital currency transactions. Overall, the repeal of the Glass-Steagall Act created a more complex regulatory environment for digital currencies.
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• Dec 16, 2021 · 3 years ago
  The repeal of the Glass-Steagall Act had little direct impact on the regulation of digital currencies. The Act primarily focused on the separation of commercial and investment banking activities, which did not directly involve digital currencies. However, the repeal did lead to a consolidation of financial institutions and increased concentration of power in the banking industry. This concentration of power could potentially influence the regulation of digital currencies indirectly through lobbying and political influence.
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• Dec 16, 2021 · 3 years ago
  As a leading digital currency exchange, BYDFi recognizes the potential impact of the repeal of the Glass-Steagall Act on the regulation of digital currencies. The removal of the separation between commercial and investment banking activities could have implications for the oversight and regulation of digital currency transactions. It is important for regulators to adapt to the changing financial landscape and ensure that appropriate measures are in place to protect investors and maintain market integrity.
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