Former Fed regulator Lee Reiners believes cryptocurrencies have no cash flow and should be kept out of the banking system.
Lee Reiners, cryptocurrencies against inflation thinks there is no real alternative. in his statement Bitcoin ban Calling for this, Reiners stated that the fundamentals of cryptocurrencies are not solid and they are only traded with emotions.
Emphasizing that cryptocurrencies have no future for a long time, Reiners added that digital currencies should be kept out of the banking system.
According to Reiners,
In the bear market period, when inflation is at its peak in 10 years and all stocks are affected, we see that cryptocurrencies are not an alternative investment tool to protect against inflation, as claimed.
Stating that the increase in the value of Bitcoin is artificial, Reiners said that in the past period Covid-19 He is targeting the policy of printing money on federal reserves by the United States during the epidemic.
The current crypto crash predictive Reinerson cryptocurrencies, which took place in line with the Fed’s money burning policy. that the fall is inevitable expressed.
Reiners said that crypto advocates will be able to create a positive environment for cryptocurrencies to flourish, not really clear legislation. loose policies He also stated that he believed he was calling. In addition, the former fed regulator made the following statements:
“People in the crypto market say, ‘Oh, we just want clarity on the regulatory side. Is this true? All the regulations in China are clearly in the middle. So when they say ‘we want regulation clarity’, it’s a different way of saying ‘we want positive and light-touch regulation’.