As the cryptocurrency industry scored massive electoral wins in November and skyrocketing crypto prices currently push the global valuation to more than $3 trillion, federal regulators have issued warnings about the nascent industry’s potential to cause widespread disruptions to traditional banking and financial markets.
The reports, which highlight crypto’s volatility, lack of regulations, and growing ties to traditional markets, echo alerts issued about the subprime mortgage industry before the 2008 financial crisis.
This sounds like CIA gov BS propaganda. there may well be a financial collapse but it will won't be because of crypto. It will be due to the EXCESSIVE spending by the US Congress for years and years. Following Reagan's tax cut in 1981 the US debt breached $1 Trillion. that has continued to grow due to subsequent Republican tax cuts and Democrat increased spending. Our politicians are the most irresponsible collection of peacocks parading about but paying little attention to the nations finances. IF one wants to learn about the CIA efforts to sabotage BITCOIN, they MUST learn about ROGER VER and his persecution by the Justice Dept., and IRS. Go to www.freerogernow.org to see his story. Or look up Tucker Carlson channel as Google is suppressing his reels on YouTube. Carlson recently interviewed Roger Ver via a Zoom meeting. Roger is currently confined on an island off of Spain. He is not in Jail because his Spanish lawyer was successful in getting him out on bail much to the anger of the US IRS. Roger was attending a crypto conference in Barcelona when he was arrested in the hotel lobby by Spanish police at the behest of the IRS. Although Roger renounced his US citizenship 10 years ago the IRS is now prosecuting him for tax evasion. this follows the publication of his book "Hijacking Crypto,. The Hidden History of BTC". The IRS doesn't want people reading this book. As Roger explains, the entire premise of Bitcoin was to create a payment method outside of the existing dollar / euro/ yen structure so people could avoid all the regulations and restrictions that hobble financial transactions. It was intended to be a currency that afforded it's users privacy in their buying and selling of goods. This is very threatening to the US government and the IRS. The story of Roger Ver is one of government persecution due to his efforts to educate the US public about Crypto and it's advantages to the highly regulated dollar and banking industry. One must learn the history of Bitcoin and crypto and the US government hidden war on it and it's champions to learn who is saying what about crypto and why.
You don't need that many words to say that crypto was created to make it easier to break the law, and destroy governments.
You don't need that many words to say that crypto was created to make it easier to break the law, and destroy governments.