Renowned cryptocurrency critic Peter Schiff answered a confirmation question when asked if he would sell his troubled Euro Pacific Bank for Bitcoin. which although he does not like crypto no matter how much But if the agreement is approved by regulators he agrees The economist countered his stance with the fact that “The first and foremost thing that he should do is protecting his bank customers.”
Schiff also stated emphatically that he agrees with other users that when the time comes we have to deal with crypto. We don’t have to worry about his bank being shut down. Take your time and worry, Bitcoin will have a lower market capitalization.
Crypto vs Traditional Finance From the example of Peter Schiff
Schiff’s Euro Pacific was previously suspended for failing to comply with the minimum net capital requirements of Puerto Rico law. This led to the suspension of the bank’s customer accounts.
Schiff said regulators wanted to liquidate the bank from tax evasion and money laundering. although there is no evidence of that at all. however He also admitted that some necessary terms were violated. He explained that the bank was new from Puerto Rico and had less money than it should have. According to Schiff, dealing with smaller banks costs a lot. And the bank got nothing from its operations.
When people love crypto He began to warn him on Twitter about the importance of Bitcoin and remind him to rethink his approach and view on Bitcoin, reminiscent of the economist’s statement that crypto is a scam. And traditional finance is already the pinnacle of excellence.
That’s when crypto lovers Started reminding him on Twitter about the importance of Bitcoin and reminding him to rethink his perspective and approach. Which brings back to the economist’s words that crypto It is a scam and reveals that
Source: U.today