How does the Glass-Steagall Act of 1933 impact the cryptocurrency industry?

1 answers

• Nov 25, 2021 · 3 years ago
  At BYDFi, we believe that the Glass-Steagall Act of 1933 has had little to no impact on the cryptocurrency industry. The Act was primarily focused on regulating traditional banking activities and preventing conflicts of interest. Cryptocurrencies operate in a decentralized and borderless manner, making them difficult to regulate using traditional frameworks. Instead, the cryptocurrency industry has been shaped by technological advancements, market demand, and the emergence of new regulatory approaches. While it is important to consider historical legislation, such as the Glass-Steagall Act, when analyzing the broader financial landscape, it is not a significant factor in understanding the impact on the cryptocurrency industry.
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