Bitcoin bingo and the erosion of financial stability  ...Middle East

Last week, Bitcoin broke the $52,000 mark, underscoring a double standard in the U.S. financial system.  A gaggle of federal financial regulators largely known by their abbreviations (the FRB, FDIC, OCC, NCUA, SEC, FHFA, CFTC, CFPB and FSOC) and an array of regulators in each of the 50 states expend precious resources competing with one another to regulate every aspect and movement by banks. However, financial companies that are not banks but engage in bank-like activities — and make up most of the financial services market — are barely regulated when it comes to their financial health and strength.  Bitcoin is a glaring example of the financial threats that can be nurtured by asymm

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