The US Federal Reserve will consider the banking precedent of the “Volcker Rule” on May 30th. Experts believe that this is the beginning of the end for the dollar and an excellent chance for Bitcoin!
The Volcker rule is a law that prohibits the banks of the United States from earning on speculation, or rather, to trade with their own funds. It was adopted in 2013 and significantly limited the “initiative” in the banking sector due to strict regulation.
The reason for its adoption was a case with one of the largest and most famous world banks – JPMorgan Chase. Unsuccessful investments inflicted a loss of 6.2 billion dollars. JPMorgan resisted, but there are a lot of examples when other banks simply went bankrupt.
Alas, American bankers are obsessed with money. In 2018, the “Volcker Rule” will be reviewed and, as many believe, the Federal reserve will decide to abolish its use.
Due to this, banks will be able to enter risky transactions with a higher margin. This is an attempt to become less centralized in order to compete with a decentralized digital economy.
This step is just as attractive to banks as it is dangerous to ordinary Americans. For those who lost their savings in numerous crises at the beginning of the new millennium, the weakening of the regulation of banks means only one thing – their investments are in danger.
Against this background, cryptocurrencies, with their transparency and immutability of the blockchain, look more profitable and reliable than banks, which can easily change the terms of the contract unilaterally. According to a survey conducted in the US, many investors already decided, that in the event of a weakening in regulatory measures, they will change dollars to Bitcoin. Cryptocurrency will benefit from this!