US regulators on the move

to deploying some regulation, any regulation, according to Reuters. About a one minute read.

Comment: ok, this is to be expected and they’re raising the usual argument — the rich will avoid taxes by crypto, blah, blah, blah. And this sentence — “The Fed and Treasury consider cryptocurrencies, which now have a market capitalization of about $2 trillion, to be more like art, gold or other highly speculative assets” — proves they are clueless.

Since when is gold a “highly speculative asset”?