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He may not have known what one was when he became president—and, let’s face it, that’s true of pretty much every subject—but, unlike many other things, Donald Trump has learned a thing or two about cryptocurrencies, and he doesn’t like them any more than he likes Nancy Pelosi or people with dark skin. Hates them enough to have ordered Steve Mnuchin to do something about them, which he’s finally gotten around to. Of course, consistency and competence haven’t been any more hallmarks of this administration than open-minded curiosity or learning, and so does it surprise you to learn that two different divisions of the very same Cabinet department—the best-run one we’ve got, or so we are terrifyingly told—would be operating at totally cross-purposes when it comes to imaginary money?

The Office of the Comptroller of the Currency… is trying to counter the perception held by some traditional banks that transactions involving cryptocurrencies present heightened risks that require lengthy and expensive due-diligence checks…. Brian Brooks, who has been acting Comptroller of the Currency since May, wants to set up systems that will enable banks to adopt digital currency safely. “We’re trying to demystify crypto,” he said.

The growth and adoption of cryptocurrency is inevitable, said Mr. Brooks, who previously served as the chief legal officer of digital-currency exchange Coinbase Global Inc.

Um, has he told the president that?

This Regulator Wants to Help Banks Embrace Cryptocurrency [WSJ]


By US government [Public domain], via Wikimedia Commons

Joe Biden Getting Gary Gensler A New Friend

And she doesn’t like cryptos any better than him.

By Mike Cauldwell ( [Public domain], via Wikimedia Commons

Did You Know Cryptocurrencies Were All About Helping The Unbanked?

In fairness, the executives saying so probably didn’t know it until they needed to come up with a catchy thing to say at a Congressional hearing.


You Know Who Don’t Want To End Banking As We Know It? Banks.

Having gritted their teeth through Gary Gensler and Rohit Chopra, the pitchforks are out for Saule Omarova.

By Mike Cauldwell ( [Public domain], via Wikimedia Commons

Crypto Exchange Fined $6.5 Million For Trading Cryptos With Itself On Itself

A more perfect addition to the blockchain we can’t imagine.


Maybe Having A Crypto Expert At SEC’s Helm Isn’t So Great For Crypto Company Being Sued By SEC

Gary Gensler knows what a cryptocurrency is when he sees it, and XRP may be right in his blind spot.


Accounting Regulator Eagerly Adopts Trumpian Management Techniques

The PCAOB is the Trump administration in microcosm, but with better pay.

By Mike Cauldwell ( [Public domain], via Wikimedia Commons

Hedge Fund's ‘Regulated Crypto’ Claim Becomes Self-Fulfilling Prophecy

The Crypto Asset Fund may not have been regulated when it made that claim—but it is now.