The path towards global tyranny obviously includes money, both fiat and crypto. You will own nothing.
Crypto-exchanges and start-ups welcomed Hong Kong’s move to introduce mandatory licensing for all virtual asset service providers and jail time for rogue players, saying that the proposal will likely deter non-compliant players and reduce competition. SCMP
Welcomed? Really, comrades?
Hong Kong’s government also confirmed it will forbid licensed platforms from servicing retail investors.
No retail investors - that means you.
So, the bankster plan is to only allow the rich to become richer. As expected.
Rich people such as Carl Icahn.
“I’m looking at the whole business. I’m not looking at what to buy necessarily at this time, I’m just looking at the whole business and how I might get involved in it with Icahn Enterprises, in a relatively big way. Cause I do think it’s here to stay in one form or another.” CryptoPotato
In one form or another.
Perhaps buying when all the paupers are being forced to liquidate - recall that gov-scum is perfectly capable of bottom-feeding and stealing people's gold. Even in the land of the free.
Securities and Exchange Commission (SEC) chair Gary Gensler thinks crypto is slipping through certain gaps in the current regulatory system, and exchange regulation is the way to address them. TheBlock
Do you see what's coming?
As every gov-scum takes its cue from pseudo-commie banksters to legitimise their own local tyranny, I don't need a crystal ball - just a clear head.
Korea is leaning the same way. But what really defines an exchange? If I own crypto and you own fiat or crypto and want to change it with me is there anyone stopping peer to peer trades or will they hunt us down for that too?
As it is I find myself having to use a VPN more often to get anything with crypto done. If not then I get a message that this site is not secure. Soon everything will be blocked except their own government internet.
When I mentioned this scenario 2 or 3 years ago people thought I was insane. Hah!
What you mention can all be done, but it pushes crypto into a branch of "offshore services" and, either by accident or on purpose, having to deal with much higher fees to "facilitate" transactions that are not allowed in your particular jurisdiction.
Every current offshore haven was designed and funded by the City of London corps. The big lie is that they are the ones funding the terrorists, the revolutionaries, the drugs, the political kickbacks, the esoteric foundations... all of it... stuff that we probably don't even have the money to pay the legal fees! Some things we can do - some are modestly priced - but as soon as you enter some gateway into the financial system, there will be a toll gate.
So we end up going backwards, potentially to MtGox scenarios, assuming such off-grid-chains can exist. And then, where do such coins get their value?
I'm a little confused about security. As long as I'm holding my keys then my coins are secure but the moment they are in an exchange like MtGox then anything could happen. Regulations are being placed on exchanges from this summer but its the same protection that Fat Tony used to collect around the neighborhood. The government wants tax money from the exchanges in protection from being closed down by the government.
The important point is whether exchanges have insurance to pay holders for any losses. but insurers will only insure accredited companies. ;-) eg Nexo uses BitGo, that is insured. Not to the full amount, it must be said.
Thank you for explaining. I pretty much pictured this system working on exchanges or they would have stolen more our crypto by now.
Yes, think of world history as gangsterism - the ebb and flow of gangs and their turf - then, yes, taxes are like protection money. With the same consequences - money is never enough, obedience is also demanded.
Nice species.
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