The founder of Weiss Ratings Agency Martin D. Weiss has forecast that an upcoming rule change in US banking will compel investors to move their money away.
Spotlight On Volcker Rule Change Timing
In a dedicated blog post about the watering down of the Volcker Rule, which limits banks’ ability to gamble deposited funds, Weiss claims that the plan is coming “precisely at a time when risk-taking has reached a peak and key risk assets threaten to cause severe losses.”
The examination of Volcker continues Weiss’ preoccupation with cryptocurrency in 2018. In January, the agency published the world’s first ratings for the market, causing controversy when it awarded Bitcoin a ‘C+’ and championed Ethereum with a ‘B’ rating.
For Martin D. Weiss and fellow author, analyst Juan M. Villaverde, the opportunities for cryptocurrency to gain trust and usage as a result of banking behavior are obvious.
“With this rule change, the authorities will make it easier for megabanks to take big risks with other people’s money,” an accompanying press release quotes them as writing.
…In the future, cryptocurrencies will do such a fundamentally better job as …
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