Comments by "" (@DanielSMatthews) on "RBA looking at creating a digital bank currency ‘for some time now’" video.

  1. yep, the government's aim is to bring in a "soft" version of the Chinese outright ban on things like bitcoin, only approved businesses (their cronies) will be legally allowed to deal in digital currencies and they will be forced to fully disclose to the government all of the transaction details. This makes holding and trading such currencies completely pointless. And don't think that you will be able to just ignore their approved platforms, you will find your access to overseas platforms blocked if they can work out how to do it. Crypto does not make sense at all in a regulated market, it is the antithesis of that, it is a black market, a shadow economy, anarchic. Not that I recommend getting involved in it unless you have a very high tolerance for risk, and it certainly is not a wise investment option for "mom and dad" investors.
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  2. Don't believe the hype, the government's aim is to bring in a "soft" version of the Chinese outright ban on things like bitcoin, only approved businesses (their cronies) will be legally allowed to deal in digital currencies and they will be forced to fully disclose to the government all of the transaction details. This makes holding and trading such currencies completely pointless. And don't think that you will be able to just ignore their approved platforms, you will find your access to overseas platforms blocked if they can work out how to do it. Crypto does not make sense at all in a regulated market, it is the antithesis of that, it is a black market, a shadow economy, anarchic. Not that I recommend getting involved in it unless you have a very high tolerance for risk, and it certainly is not a wise investment option for "mom and dad" investors.
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