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FTX’s Collapse Could Spell the End for Unregulated Cryptocurrencies

FTX’s Collapse Could Spell the End for Unregulated Cryptocurrencies
The FTX Arena logo, in Miami, Nov. 12, 2022 (AP photo by Marta Lavandier).

Advocates of cryptocurrencies have long argued that the new technology behind them would break the government monopoly on currency regulation. The collapse of the FTX exchange illustrates why this sort of “disruption” is unlikely in the realm of currency control, which has historically been and will remain the domain of governments.

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