the meantime also legislation. keep in mind it s no accident that congress hasn t acted. these companies have opposed. they fought tooth and nail. facebook has devoted millions of dollars to fight commonsense measures like the erned act which i introduced last session which passed unanimously to curtail immunity they have under section 230. for them to say, oh, we want regulation, we think the government should be providing oversight is the height of disingenuousness. it s a whole lot of noise. they are leaving out the fact that they spend hundreds of millions of dollars in the halls of the capitol lobbying against this smart regulation. so, realistically, given what you re up against with facebook and their efforts and lobbying efforts, in terms of regulation, you ve got these bills. what s the likelihood that they get passed and what s the timing? more disclosure isn t keeping
Instead of shutting out cryptocurrencies, the government must ensure smart regulation
The government’s statement about bringing in a law on cryptocurrencies is welcome, as it could put an end to the existing ambiguity over the legality of these currencies in India. The vagueness exists notwithstanding the fact that the government has, from time to time, suggested that it does not consider them to be legal tender. It has not, however, been able to channel this understandable disapproval arising out of the fact that such currencies are highly volatile, used for illicit Internet transactions, and wholly outside the ambit of the state into any sort of regulation. In 2018, the RBI did send a circular to banks directing them not to provide services for those trading in cryptocurrencies. But this was eventually set aside by the Supreme Court, which found the circular to be “disproportionate,” given that the central bank had consistently maintained that virtual currencies were no
daily show when jon stewart was the host, and you were a bit nervous. yes. so remember, this is in the financial crises. i ve never done any part of this, and yet we ve got to talk to the american people about what s going on, so this is kind of the first time i ve done a lot of press. now, i get invited to be on the daily show. everybody s getting ready and they fuss with your makeup and hair and i m sitting there thinking this is going to be really scary and hard. and i go in the little bathroom part and throw up. good response to stress, right? clean myself up, take a drink of water and head back out and do the interview. we re going to put in smart regulation. it s going to adapt to the fact that we have new products, and what we re going to have going forward, is we re going to have stability and some real prosperity for ordinary folks.
or 2.5%. and somebody goes to a pay lender and borrows 300 bucks and ends up paying $2,850. these are riskier borrowers. that s one of the reasons they re in this position. where is the mean? that s a fair question. what we decided is as a government, it is focused on ensuring that we don t have user interest rates, the government steps in. maybe you can charge 15 or 20% or maybe 30%. but, when you intoxicate people or get them in this and put them on a path of this downward spiral where they effectively end up every couple of weeks spending more and more of their paycheck on just interests. you have something that s ruining people s lives. the idea of government intervention and regulation here