Posted on 04/01/2023 7:02:03 AM PDT by zeestephen
The U.S. government currently holds more than 205,000 BTC as of March 27, making it the largest holder of the world's largest digital currency, owing to its long history of seizures. [At least 120,000 seized from Silk Road]
(Excerpt) Read more at msn.com ...
The road to confiscation/ abolishing Bitcoin is set. Our government will NEVER allow another digital currency to compete with its own. I monitor our governments actions in instating digital currency and it is advancing at a scary rate….just one more financial meltdown ( starting ) and the sheep will be begging for it.
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PING!
They can confiscate a cold wallet, a cryptosteel, or slips of papers with private keys or passphrases on them.
They can’t do anything if you commit private keys to memory, then “forget” them.
Wow, something you and I definitely agree on.
The government always follows the same pattern with things:
1) Denigrate it
2) Regulate it
3) Sue it
4) Join it
5) Call it their own
BTC is like Napster - proving that assets can be digitized, but not efficient at moving money, especially using the current gain. The SEC suit against Ripple is ending soon, with the SEC set to lose.
Algorand, Ripple, and some others are the only ISO 20022 certified adopters for digital Swift, and starting in July the number of allowed crypto exchanges in the US goes from over 100 down to 10. (Coinbase isn’t one of them…)
FedNow is coming. We MUST not allow digital ID to be implemented!! The Trump indictment is the news cycle cover to implement that.
Make no mistake- WHEN US sovereign digital currency is instated,private digital currency will be abolished. Many ways to accomplish this.
Published “ strategies “ and warnings are out there. High taxation obviously first, incentives to sell off , then the move to criminalize it through tax laws- mandatory reporting, penalties, jail time, etc….there are many reasons the IRS just hired 60,000 agents. Prepare accordingly, there is not much you will be able to do with a government that is becoming increasingly authoritarian.
Can the government buy and sell unregistered securities per the SEC
That is a really good question, Wild Bill.
The government has previously seized crypto or shut down crypto businesses based on the legal premise that crypto is an unregistered security.
I do not know - maybe the Secretary of the Treasury has the right to wave his hand over a government computer hard drive and declare that any crypto on it is registered?
IIRC, SEC ruled Bitcoin was not a security in 2019.
Both Bitcoin, Ethereum and litecoin have been pushing upwards of late. Not 100% sure of the reason for this sell off but it seems to me that the government does not want individuals going off and moving their money to crypto currencies. Just speculating.
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