Crypto Isn’t a Currency and Should Be Banned, Billionaire Munger Says

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The Street

By Luc Olinga Warren Buffett’s right-hand man calls on the U.S. to ban cryptocurrencies. It’s an unsurprising uppercut — but its power comes from an important voice and will definitely hurt the cryptocurrency industry. And the timing is unfortunate for the market since cryptocurrency tokens have been enjoying good momentum for a few weeks now. Billionaire Charlie Munger, 99, has once again lambasted cryptocurrencies, to which he ascribes no positive utility. Quite the opposite: He’s calling on the U.S. to follow China’s example by simply banning them. “In the U.S. in recent years, privately o…

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