ECB Officials Want To Monitor Crypto Under Gambling Laws
Fabio Panetta, the ECB executive, has mentioned that crypto investment could be treated similarly to gambling and also added that, just like gambling, crypto trading barely has any economic value.
From his ECB blog,
But it is precisely for this reason that we cannot expect them to disappear. People have always gambled in many different ways. And in the digital era, unbacked cryptos are likely to continue to be a vehicle for gambling.
Here is something Panetta let slip.
That is why the ECB and central banks around the world are working on both retail and wholesale central bank digital currencies. By preserving the role of central bank money as the anchor of the payment system, central banks will safeguard the trust on which private forms of money ultimately depend.
So... plebcoins will be different to bankstercoins!?
Remember that: private forms of money. He could have said "assets" but didn't. In the sense that a corporate bond is a "private form of money" backed by whatever currency in which it is denominated. But again, that isn't what he said; he was contrasting "retail" money with "wholesale" bankster money. This difference already exists, as the cost of money differs greatly depending on how up the food chain you are. But they are not named as different currencies.
Also note that Europe is a Tower of Babel, and blogs abound, sending out floaters to see which ideas sink - and stink - and which stick.
Whatever the instrument and jurisdiction, it all adds up to a hefty upfront fee!
https://gbo-licensing.com/cheapest-online-gambling-license/
Like I said above, I suspect lots of people haven't yet understood the yield farm ponzinomics, so they don't play the game - or rather, most play to lose. lmao
Reserve Bank of India wants cryptocurrencies treated as gambling
https://finbold.com/reserve-bank-of-india-wants-cryptocurrencies-treated-as-gambling/
The catch here is that gambling is illegal in India.
Also note this total bollox...
so... something with "no underlying value" could undermine the bankster control of their fiat money supply, also of "no underlying value".
This is fun:
So much games and gamblings
hehe they playing their games with us, but it seems that they forget sometimes that the gambling and lottery business is the one which brings most of the tax income to their table, so they should be grateful for all the nerds and fans of crypto it helps to fill "their" pockets and garuanties their generous salaries ;)
I worked for more than a decade in between the towers of Mainhattan which we used to call Frankfurt now the seat of the European Central Bank (ECB), these guys and the ones from the FED can walk hand in hand they have the same wet dreams about their regency of the worlds money, naughty and silly little boys and girls !
Money rules the world, and Bitcoin is money, guess the better money and that´s why they don´t like it, no more slices for them to cut out...
Yeah, I like these kinds of news - the narrative creation. I can draw my own lines on charts; that news is boring, apart from a few, like Glassnodes, that go OTT data! lol.
Much of crypto reminds me of the HYIP scene - I made a decent amount there, some years ago, as had developed a form of tracking ;-) But I think the reason such "programs" exist is because there are many who just don't understand the ponzi-game. I mean, it's all zero-sum, just like gambling. I suspect such maths-games would fade away if most people understood what they really are.
And yeah, the ECB blog site is filled with unofficial ejaculations - all looks very serious until you understand all the jerkin that's taking place.
As for BTC, mining is fairly similar to seigniorage earnings, so the banksters just need to collude in mining cartels, and users will be none the wiser. I also think BTC derivatives have changed the market, hence all the historical price analysis no longer works, eg S2F, as the synthetic "stock" is now much larger than the market cap.