Crypto was supposed to be a decentralized means of payment, to escape banks and governments regulation, now it seems governments are trying to take control of crypto and the internet.
And you thought governments were going to let Bitcoin get away? Governments had two options, to ban Bitcoin, which is useless, or to regulate it and try to control it, which is what they are doing.
"Cryptocurrency companies will need a licence and customer safeguards to issue and sell digital tokens in the European Union under groundbreaking new rules agreed by the bloc to tame a volatile “Wild West” market."
That's nothing. Legislation on the way from the European Union, of which a draft has already been approved, will implement KYC for all crypto transactions, of any amount:
Goodbye, privacy, goodbye, it was nice while it lasted.In this line, some crypto ATMs in Europe that previously did not ask for KYC below certain limits, have come to require KYC for any transaction.
And now pension fund managers will bet your pension savings on crypto, or banks that hold your savings will put some of your money on crypto , do to fact govs regulated "crypto" . Yep govs are now encouraging people to bet on "bottle caps and nuke cola bottle caps" ,like in Fallout game. The world is gone crazy ...same with cash ...in ancient times you would get silver,gold,copper,iron etc for your work ,now they give you a piece of paper,plastic or a virtual number that suppose to have value do to fact some "gov" that will not exist in a few years backs it and forces you to use it. Yep the world is crazy ,no matter what they tell me ! It's time we switch back to good ol fashion gold ,silver,steel and copper as payment.