Cryptocurrency: Battle Stations!!! - The Global War Against Real Crypto Is Ramping Up
grarpamp at gmail.com
Mon Apr 12 23:12:49 PDT 2021
$Trillions in market cap are making Governments and Banks very nervous.
You've followed all the news articles for years... the bans, the creeping
regulations, the taxation, the prisons, the tracking and controls,
the war on cash, the rise of corporate shitcoins and government CBDC's...
and you knew the global war against real distributed crypto was coming.
Now, in as many ways and more, the war is here... and it is a dire threat.
This Government, Bank, and Shitcoin war is winnable, the outcome is in
your hands... you have the philosophy, speed, and numbers on your side.
Yet if you are not *IN* the war, you are not going to *WIN* the war,
on the contrary, you, and freedom, will *LOSE* the war, badly!
Adopt, Keep, Use, and Fight for real Cryptocurrency!!
Get Active, get in Public, and get in the Crypto Political War... NOW!!!
https://www.youtube.com/watch?v=H6b70TUbdfs The Tiny Dot
"I think there could be some crackdown," Jesse Powell, CEO of Kraken,
told CNBC in an interview.
A recent anti-money laundering rule proposed by the U.S. government
would require people who hold their crypto in a private digital wallet
to undergo identity checks if they make transactions of $3,000 or
"Something like that could really hurt crypto and kind of kill the
original use case, which was to just make financial services
accessible to everyone," Powell said.
Illicit activity accounted for just 0.34% of all crypto transaction
volume last year, according to blockchain analysis firm Chainalysis.
That was down from roughly 2% a year earlier.
"I hope that the U.S. and international regulators don't take too much
of a narrow view on this," Powell said. "Some other countries, China
especially, are taking crypto very seriously and taking a very
Kraken's CEO said he feels the U.S. is more "shortsighted" than other
nations and "susceptible" to the pressures of incumbent legacy
businesses — in other words, the banks — that "stand to lose from
crypto becoming a big deal."
"I also think it might be too late," Powell added. "Maybe the genie's
out of the bottle and just trying to ban it at this point would make
it more attractive. It would certainly send a message that the
government sees this as a superior alternative to their own currency."
The U.S. isn't the only country considering strict new rules on
crypto. In India, for example, the government is considering a law
that would ban cryptocurrencies and penalize anyone holding or trading
HSBC has banned customers of its online share-trading platform from
buying or moving into their accounts MicroStrategy stock, calling it a
"virtual currency product." The bank will not facilitate the buying or
exchange of products related to or referencing the performance of
virtual currencies, the message to an HSBC InvestDirect client said.
MicroStrategy declined to comment. The U.S. business software firm is
led by bitcoin proponent Michael Saylor and owns bitcoin worth
billions of dollars.
While HSBC will allow the holding, sale and outgoing transfer of
MicroStrategy shares, it will forbid new purchases or incoming
transfers, said the message dated March 29. "HSBC has no appetite for
direct exposure to virtual currencies and limited appetite to
facilitate products or securities that derive their value from VCs
(virtual currencies)," HSBC said in a statement. The bank said its
policy towards cryptocurrencies had been in place since 2018 and is
kept under review.
JPMorgan Chase, RBC Royal Bank Canada, Bank of America, Citigroup,
Wells Fargo, and many other bank based investing platforms actively
block customer purchases of cryptocurrency stocks, ETF's, miners,
futures, derivatives, holding funds, crypto servicing companies, coin
protocol development companies, etc. These banks also refuse to open
accounts for cryptocurrency exchanges, and they will cancel customers
bank accounts found sending funds to and from exchanges. These are not
prohibitions at law, the banks are acting arbitrarily.
Powell remains generally skeptical of banking regulators who’ve
created an atmosphere where banks can deny legal crypto firms and
their customers basic banking services, while being allowed to make
risky investments. “The problem with most banks is that they’re
allowed to gamble while most people just need basic access to payment
rails,” Powell said.
“I think there’s still things governments can do to shut it down if
they really get scared,” he said. “I’m a bit pessimistic about this.
But I think that politicians in the long run are just self-serving. To
the extent that we can put crypto in the pocket of every politician,
they’ll likely work to benefit themselves.”
Powell added that he’d feel more comfortable once U.S. politicians
begin accepting and keeping campaign donations that are denominated in
“I think there will always be a compulsion to go back to a
human-managed currency because of the great power it has,” he said.
“We’re still fighting against governments and [Internet Service
Providers] for our rights on the internet.”
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