Munger said the assets do not fall into the category of currency, commodity nor security, and amount to little more than “a gambling contract with a nearly 100% edge for the house.” Munger and Warren Buffett, his business partner, have a long history of skepticism in the cryptocurrency space.
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Munger: Ban 'Gambling' On Crypto
Berkshire Hathaway Vice Chairman Charlie Munger criticized the lack of regulation in the cryptocurrency sector and said he thinks the U.S. should ban cryptocurrency outright. So reports CNBC.
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