Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Investing

The Crypto Industry Should Not Seek to Punish Its Competition

by March 14, 2025
March 14, 2025
The Crypto Industry Should Not Seek to Punish Its Competition

Norbert Michel

I’ve written several articles on the punitive Credit Card Competition Act and why its policies are misguided. It’s based on a myth that the “big credit card companies” have some kind of monopoly, duopoly, or anticompetitive power.

But it is a myth, and implementing routing requirements or price controls (indirectly or directly) will not promote competition. It will harm competition. Those policies will not promote innovation or expand consumer choice. They will hinder innovation and shrink consumer choice.

Now, in a story that is typical of how Washington works, two special interest groups have joined forces to support the punitive Credit Card Competition Act.

The two groups, the Merchants Payments Coalition (MPC) and the Payment Choice Coalition (PCC) have just announced that they are “each joining the other’s group to promote their shared goals of enhancing innovation, competition, and choice in U.S. payments.”

The pitch sounds lovely, but there’s a special interest twist. Members of the PCC include Coinbase, Circle, and the Blockchain Association.

So, that’s how far the crypto industry has come. They started out just pushing for a new regulatory framework, so that crypto and stablecoins could compete with other payments technologies. And now they’re actively pushing for the Credit Card Competition Act, legislation that would unambiguously harm credit card companies and other payments firms. 

Actively seeking rules and regulations that would harm your competition has practically become a rite of passage in Washington, so it’s unsurprising to see crypto firms supporting these policies. But it’s still incredibly disappointing.

It’s also incredibly shortsighted. Giving more power to regulators to dictate terms in the payments sector will not end well for crypto firms. Eventually, regulators will restrict them at the expense of other groups. 

0
FacebookTwitterGoogle +Pinterest
previous post
Abortion research group opposes state reporting requirements amid ‘weaponization’ by lawmakers
next post
Friday Feature: Spyrja Academy

You may also like

Republicans’ One, Big, Beautiful Tax Bill Needs a...

May 14, 2025

The Fed’s Questionable CBDC Campaign

June 12, 2023

Should Defamation Lawsuits Exist?

January 13, 2025

Toughening Laws on Noncitizen Voting: Evaluating the SAVE...

August 9, 2024

New Report Analyzing Meta’s Oversight Board Finds Mixed...

June 18, 2025

Digital Currency or Digital Control Is Out Now!

June 18, 2024

Lorie Smith’s Rights—and Ours

June 30, 2023

There Are Many Ways to Fix Bank Regulation—Here’s...

December 16, 2024

House Budget Committee Seeks to Reform Emergency Spending...

July 24, 2024

What’s Another $56 Billion in Emergency Spending?

October 30, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • WATCH: Republicans share views on gay marriage decade after Supreme Court decision

      June 26, 2025
    • Hegseth tears into reporters, alleging they ‘cheer against Trump’ and Iran strikes

      June 26, 2025
    • Trump’s ‘big, beautiful bill’ faces setback as Senate rules knock out key Medicaid provisions

      June 26, 2025
    • Mossad chief thanks US for help with Iran, says ‘significantly thwarted’ regime threats

      June 26, 2025
    • Most People Want Teacher-Led Prayer in Public Schools—It’s Time to Choose

      June 26, 2025
    • How Should We Think About Misinformation?

      June 26, 2025

    Categories

    • Business (8,315)
    • Investing (2,074)
    • Politics (15,813)
    • Stocks (3,168)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved