Charlie Munger Urges US Government to Ban Crypto Like China Has Done
Warren Buffett’s right-hand man and the vice chairman of Berkshire Hathaway, Charlie Munger, has urged the U.S. government to ban cryptocurrencies like China has done. “A cryptocurrency is not a currency, not a commodity, and not a security. Instead, it’s a gambling contract with a nearly 100% edge for the house,” he stressed. Berkshire Vice Chair Charlie Munger Wants Cryptocurrencies Banned Berkshire Hathaway Vice Chairman Charlie Munger has urged the U.S. government to ban crypto in an opinion piece titled “Why America Should Ban Crypto,” published by the Wall Street Journal Wednesday. The Berkshire executive wrote: A cryptocurrency is not a currency, not a commodity, and not a security. Instead, it’s a gambling contract with a nearly 100% edge for the house, entered into in a country where gambling contracts are traditionally regulated only by states that compete in laxity. “Obviously the U.S. should now enact a new federal law that prevents this from happening,” Munger stres