Crypto and Regulation

The cryptocurrency industry is as disruptive to the financial and banking industry as the smart phones were, to the telecommunications, computer, entertainment, camera and music industries. These affected industries have learned to co-exist with the smart phone and most have embraced it. But unlike the latter industries, the banking and financial industries seem to be fighting what’s coming.

People’s lives are being ruined by all these hacks and we can’t seem to catch a break with mass media and all these so-called “tycoons” churning out pronouncements of what they think of cryptocurrency. Just recently, after the part one of this article got published, Solana gets compromised once more. Hackers, already took 5M USD before admins could react. One begins to think that there is currently a hatchet job being performed on the industry. Probably to make it easier to push for extreme regulation. BIS, World Bank, IMF, FATF, WEF anyone?

Check who comprises most of these institutions. Will you look at that……its Governments around the world. Mostly the powers that be and their lackeys. Now, check who comprises the World Economic Forum. Why it’s the cream of crop! (Or should I say crap) Billionaires around the world who probably own most of the world’s enterprises just like Blackrock, if they aren’t heavily invested in it either directly or indirectly. But yeah, the people with so much to lose if crypto succeeds and much to gain if it fails. It’s a conspiracy theory, that much I can say. But if you take into account all that’s been happening in the crypto industry and the recommendations of those world bodies for heavy crypto regulations, plus the antagonistic actions of some Governments toward crypto. Then you’ve got to ask yourself. That’s one hell of a coincidence. Follow the money seems to be quite apt for now.

For all we know it may also be why the market is crashing. A concerted effort to pull it down so that these whales can jump on board and sell at a hefty price. These are businessmen after all, and being shrewd is not an uncommon trait. You think they don’t see crypto’s value, when millions of people have? I don’t think so.

I am not against regulation. Heaven knows, the investing public needs it. But what is being presented to us is not regulation, but total control. The proposal for the central bank digital currency is the perfect case. Anti money laundering, FATF, protocols are in place. You can use it for payments, store it, save it and do with it as what you can do with real fiat. But the second something goes wrong and let’s say a bank run occurs for whatever reason, they can freeze it and you are left with ownership of a piece of digital paper but can’t do anything about it. “Not your keys, not your cyrpto” comes to mind (For f*#%’s sake, they even want to outlaw cold wallets.). And heaven forbid you get on their wrong side for one reason or another, whether it is justified or not, they can garnish it. If that doesn’t scream “CONTROL”, then I don’t know what the hell does.