Bitcoin Critic Charlie Munger Proposes Cryptocurrency Ban in U.S.
The largest crypto currency asset had a rough 2022. Resultantly, skeptics were in the driving seat. Even though Bitcoin has put up an impressive show so far in 2023, people from this side of the spectrum haven’t backed off. In a recent Wall Street Journal opinion piece, Berkshire Hathaway ’s Vice Chairman, Charlie Munger , demanded a crypto currency ban in the United States. China was wise to ban cryptocurrencies: Munger In the article, he criticized the “thousands of new cryptocurrencies” issued by private companies that were allowed to publicly trade without making any disclosures or getting any governmental pre-approval. The Bitcoin critic attributed the “gap in regulation” to their rise. Munger wrote, “A crypto currency is not a currency , not a commodity, and not a security. Instead, it’s a gambling contract with a nearly 100% edge for the house, entered into in a country where gambling contracts are traditionally regu...