Beware, Next Target Cryptocurrency: “Lawmakers fear cryptocurrencies could be back door for sanctioned rubles”
March 9, 2022
“…The anonymity provided by bitcoin and other cryptocurrencies could undermine the effectiveness of sanctions against Russia after its invasion of Ukraine, the lawmakers say. Industry advocates, however, say the technology provides greater transparency for law enforcement and warn against an overreaction by Congress and regulators…
“Make no mistake. There’s a fight coming, because there’s a strong impulse in the cryptocurrency community for anonymity,” Himes said. “I’m not sure that that’s a circle you’re going to be able to square. Congress is going to want to have mechanisms to get at the beneficial ownership of wallets, and that will be opposed.”…”
Governments and banks can’t stand people now have the power to exclude them from their financial transactions. They want to track it and tax it. It’s not about Russia or the war. It’s about their greed. Products are not responsible for bad actors. The same foolishness is said about, Drugs, Guns, Prostitution, etc. Who are these people to decide Drugs are bad? Prostitution is bad? Guns are bad? Cryptocurrency is bad? The government is not your father. Their opinion on whats “bad” for the average person should be irrelevant. When a criminal uses a hammer the company that made the hammer is not responsible neither is the hammer. Banning products is about control not about safety. Why because criminals don’t follow the law. They will acquire these things regardless of whether they are legal or not. Also ease of access has never mattered to the criminal. So that argument doesn’t work either.
The main point I want to make is I believe cryptocurrency are going to drop. Probably by a lot. First off there is a war. Countries affected won’t have access to electricity like they normally have. Cryptocurrency is useless without electricity. Second It’s obvious this is the excuse governments needed to crack down on cryptocurrency. People in the article above are telling you.