The creator of Dogecoin Says goodbye to the Crypto World.

The creator of Dogecoin Says goodbye to the Crypto World.  Jackson Palmer, co-creator of Dogecoin (DOGE), bid farewell to the cryptocurrency industry. In a lengthy thread posted on Twitter on July 14, 2021, the developer details the reasons for its waiver. After creating Dogecoin in 2013 with the help of Billy Markus, this young Australian did withdraw from the sector in 2015.

“After years of study, I think cryptocurrency is an inherently right-wing hypercapitalist technology, designed primarily to amplify the wealth of its proponents through a combination of tax evasion, reduced regulatory oversight, and artificially imposed scarcity. , added Jackson Palmer.

The creators of Dogecoin, this controversial digital currency was born out of a joke, pointing out the lack of regulation in the cryptocurrency sector. For Jackson Palmer, the regulations governing the banking industry are a “safety net” for the average user.

Read this Bitcoin Is Included A Mathematical Wonder That Happens In The World

“Cryptocurrencies are like taking the worst aspects of the current capitalist system (e.g. corruption, fraud, inequality) and using software to technically limit the use of interventions (e.g. auditing, regulation, taxation)”, continued the Dogecoin co-creator.

Contrary to Jackson Palmer's statement, the world of cryptocurrencies is far from being completely deregulated today. In the space of a few years, many regulatory frameworks have been created by the authorities to regulate the rise of digital currencies.

We think in particular of the many regulations put in place against money laundering. In addition, many exchanges now apply similar restrictions to traditional banks, either to comply with applicable laws or to protect their users.

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