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Guardian

Guardian

If crypto is incorporated into Australia’s financial system, we will be lucky to avoid contagious collapse | John Quiggin

Guardian
Summary
Nutrition label

73% Informative

Jim Chalmers has suggested that Australia 's financial system will not be insulated from a crisis that seems all too likely to emerge in the next few years .

The real problem is that crypto is essentially worthless, writes John Quiggin .

Chalmers' statement includes a promise of legislation for “payment stablecoin” reforms, but it is hard to see how Australia can regulate a global firm like Tether .

VR Score

76

Informative language

74

Neutral language

55

Article tone

informal

Language

English

Language complexity

54

Offensive language

possibly offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

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