Why regulation of Bitcoin still won’t happen

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The elite are now too invested to act against crypto

Along Greg Barker

M lovin’it.

The McDonald’s Bitcoin Meme This week we’ve fully captured the sentiment of crypto enthusiasts, where a new poor crypto investor is portrayed wearing the iconic logo of a fast-food giant. During what appears to be the second half of the latest cryptocurrency crash, the McDonald’s logo appeared on Bitcoin’s long-term chart (above).

The recent rout, when Bitcoin’s price dropped to $34,000, arrived two months after the arrival of cryptocurrencies. Its highest level Of adoption.Like other suspicious asset investors (now shameful fund manager Cathie Wood’s so-called Innovation ETF)New BitcoinHOD LersLost almost 40% of their holdings in just a few months.How about Altcoin Investors, they have Endured Greater loss.

Again, we’re at a familiar moment when Bitcoin’s bullishness all seems to be over. After that, prices usually not only bounce, but also reach record highs. Is it different this time? Well, it depends on the regulatory agency. Bitcoin and other cryptocurrencies can be in serious trouble if the damage to a private investor’s wallet is too great for the authorities to ignore. However, this means that authorities are facing the ultimate regulatory dilemma. How do you demolish the global market for privately issued digital money, especially those that already have an impact on high places?

The desire for large-scale monetary gains through Bitcoin has created a conflict of interests between the underground world of cryptocurrencies and public figures.Former interpol Arrested Brock Pierce, co-founder of Tether, is the mayor of New York City, Eric Adams. Unfortunately Just before the crash, we announced that we would convert the first check to Bitcoin).Meanwhile, Bitfinex and Tether CTO Paolo Ardoino casually Give a speech in publicReturn to his home office and print billions of dollars in fake currency.You would think he would be asked to perform a counterfeit operation that the pre-creator of digital cash cryptocurrencies is doing. Serving It’s jail time, but it’s not.

It goes all the way to the White House. Sam Bankman-Fried, the founder of the crypto exchange FTX billionaire, was one of Joe Biden’s top political donors.When Politicians have hundreds of thousands of cryptocurrencies.Many members of the Diet Openly held Fluorescent orange coin like Cynthia Lummis When Pat toomeyWho I tried to prevent Anti-cryptographic bill from passing the Senate.

Resistance to regulation is even greater. Even if civil servants give up Bitcoin to protect the sacredness of the US dollar (or to follow standard counterfeiting), authorities still have to defeat key players (tether, Bitfinex, Blockstream). not. But since these are elusive global entities, the only way to stop them is to devise a globally coordinated crackdown. Financial activity task force (FATF), the only intergovernmental organization working on money laundering.

Of course, even if we could somehow quit the global anti-cryptocurrency co-operative at a time of increasing geopolitical tensions, it is doubtful that it would lead to a ban on cryptocurrencies. The possibility at this point is that Bitcoin may rise and fall again without any restrictions.

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