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Just In: Biden to Sign Executive Order to Regulate Cryptocurrency after Assault on Dollar

Goldhedge

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Just In: Biden to Sign Executive Order to Regulate Cryptocurrency after Assault on Dollar​

By Jim Hoft
Published March 7, 2022

502F54C4-1571-4D60-82FE-61D6F4DCB9B9.jpeg


Joe Biden is expected to sign an executive order on regulating cryptocurrency this week according to a report by Bloomberg based on anonymous sources.


According to the report, “The order will direct federal agencies to examine potential regulatory changes, as well as the national security and economic impact of digital assets.”​
The executive order will reportedly help coordinate the role of agencies such as the Securities and Exchange Commission and Commodity Futures Trading Commission on cryptocurrency. Industry actors have long complained that guidance from the SEC and other agencies has been unhelpful as they seek to be compliant with U.S. law.​
The order has been around the proverbial corner for some time. Bloomberg initially projected back in January that it might get signed in February, while Yahoo Finance reported in mid-February that President Biden was “expected to issue an executive order next week.” That clearly didn’t happen.​
Russia’s war on Ukraine has made the issue more pressing, as sanctions, central banking and cryptocurrency financing have been in the public consciousness. Instead of using military force, the United States and its allies have been fighting Russia with what the Financial Times has termed “financial warfare.”​

 

Goldhedge

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I bet he was champin at the bit for something to report....
 

gringott

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Thank God the people who we put into office don't hide behind secrecy; they keep us informed of every move so that we are not blindsided.
 

ZZZZZ

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The "fact" that TPTB think the (phony fiat non) dollar is threatened by crypto currencies is laughable.

Or maybe not.
 

gringott

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It's a joke, until it isn't.
 

solarion

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Just in? The US federal regime has been threatening this stuff for the past decade. All part of controlling the price to protect their precious debt dollar scam.
 

EO 11110

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the slow burn to crypto reality continues
 

spinalcracker

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The "fact" that TPTB think the (phony fiat non) dollar is threatened by crypto currencies is laughable.

Or maybe not.


they have to find as many things to blame for the collapse of the fiat so it might as well be Russia and Bitcoin
 

solarion

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the slow burn to crypto reality continues
The reality is that those expecting crypto currencies to crater vs the US dollar are sadly mistaken. Nearly everything priced in US dollars is going to appear to gain value, and cryptos are no exception. The question is, are cryptos going to continue to gain value vs the US dollar(and everything else) at the same rate they have in the past.

My own take is no, and that's why I swapped a large portion of my cryptos for PMs near the top, but at some point cryptos will become cheap enough, and enough people will jump to them that they will again explode vs fiat debt dollars. That is the crypto reality today, just as it has been for the past 13 years.

This process is playing out right now all over the world as inflation rages and governments tighten monetary controls. People flock to cryptos in general and bitcoin in particular because it's an effective escape hatch that governments cannot control.
 

Voodoo

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EO's are Not law. Not that anyone cares anymore.
 

the_shootist

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MrLucky

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People flock to cryptos in general and bitcoin in particular because it's an effective escape hatch that governments cannot control [yet].
FIFY
 

solarion

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Would LOVE for someone to finally explain how cryptos are going to be controlled. I hear the implications constantly, but nobody ever explains the mechanisms. There's a reason for that. Yes, gumbymints attack centralized exchanges, but those that think cryptos themselves can be controlled, believe that because they don't know what they're talking about.

If I chose to send any single one of you guys 10 bitcoin for instance, there is not one god damn thing brandon could do to stop me, short of murdering me or stuffing me in a rape cage.

Yes gumbymint can cut power to a city. Yes gumbymint can cut Internet access, yet both of these things stop ALL commerce that's not hand to hand...so that won't work for any duration.
 

Lancers32

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All of these cryptos on blockchain keep a history of all transactions made right? If I am wrong please correct me. Now if they have or can develop a computer that can collect all that info and they decide to make it illegal to hold as a matter of financial terrorism they can threaten you with jail time and enormous fines if you don't give it up. Not too many people would stand up to that. I think the banks want full control of all of this. They claim cryptos are being used by criminals but figures show they are less than 1/10th of 1%. We all know the criminals are transacting in cash.
 

solarion

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No, all of them do not create a private public transparent leger. Bitcoin does, but it's not attached to a human. Watching bitcoin transactions on the blockchain is not like watching a credit card transaction. All one sees is a send/receive addy, block amounts/size, time/date information, and confirmations. Experienced bitcoiners never ever use the same address twice and routinely employ "tumblers" off blockchain to make tracing individual transactions virtually impossible.

It's the people that have zero experience actually using cryptos that keep saying stuff that isn't reality. Preventing me from transmitting bitcoin to anybody I wish to voluntarily is every bit as easy as preventing me from paying you in silver coins for fixing my fence. It isn't going to happen, because there's jack and shit that fed gov can do about it.
 
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EO 11110

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No, all of them do not create a private public transparent leger. Bitcoin does, but it's not attached to a human. Watching bitcoin transactions on the blockchain is not like watching a credit card transaction. All one sees is a send/receive addy, block amounts/size, time/date information, and confirmations. Experienced bitcoiners never ever use the same address twice and routinely employ "tumblers" off blockchain to make tracing individual transactions virtually impossible.

It's the people that have zero experience actually using cryptos that keep saying stuff that isn't reality. Preventing me from transmitting bitcoin to anybody I wish to voluntarily is every bit as easy as preventing me from paying you in silver coins for fixing my fence. It isn't going to happen, because there's jack and shit that fed gov can do about it.

i see it this way --

crypto of yesterday will fade. a ton of news flow has destroyed almost all of the arguments for buying it/holding it. and that news flow is just getting warmed up.

crypto of tomorrow will look nothing like the crypto of yesterday. it will be openly gov/banker owned/operated (as opposed to the hidden hand of yesterday crypto)

many crypto holders will be in denial, refusing to let go of their previous notions, fighting the urges to conclude that they were wrong. we see the same behavior in the covid makks/injection dupes - clinging to their original view

crypto pushers will have to deal with the guilt - that they helped bring in the ultimate in communist surveillance/punishment 'money'
 

solarion

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That's kewl, and maybe you're right. Surely the banksters want to take over blockchain tech at least and make their own crypto chains. ...and that doesn't make bitcoin, monero, cardano, etc just go away. If when the capital controls increase, people will want more and more ways to circumvent banks while transferring value over vast distances. At this time there is nothing like crypto currencies for doing that.

Being 100% unbanked and still being able to order thousands in PMs online is badass. ...ask me how I know. Meanwhile CC transactions for the very same PMs are strictly limited, regulated, and restricted to tiny sums.
 

Lancers32

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Who really know where this all ends up but I assume the govt is going to be capable of tracking you and all of your purchases. You can't come up with what they are looking for you get thrown in jail. You gonna use crypto to buy used movies on Ebay? They want a digital coin they control that they can immediately tax and have the ability to cut you off at any time.
 

EO 11110

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That's kewl, and maybe you're right. Surely the banksters want to take over blockchain tech at least and make their own crypto chains. ...and that doesn't make bitcoin, monero, cardano, etc just go away. If when the capital controls increase, people will want more and more ways to circumvent banks while transferring value over vast distances. At this time there is nothing like crypto currencies for doing that.

i agree with everything you say about it. i'm just trying to make predictions about the future of it. it's a hobby of mine
 

EO 11110

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Who really know where this all ends up but I assume the govt is going to be capable of tracking you and all of your purchases. You can't come up with what they are looking for you get thrown in jail. You gonna use crypto to buy used movies on Ebay? They want a digital coin they control that they can immediately tax and have the ability to cut you off at any time.

a communist's wet dream

coincidence theorists will say -- oh darn, will you look at that. those damn (int'l bankers/communists) got so lucky that this happened. it just fell in their laps
 

solarion

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Eventually, we'll all have a line right? I mean we can all assume the government can ramp up financial repression backed up with guns if we wish, ...and yet eventually I won't comply. Eventually when someone, even a government stooge decides some portion of what's mine is theirs for the taking and comes for it, I will shoot them rather than just handing it over.

The point is to make it as difficult as possible for these assholes that think we exist only to support their debt dollar slave plantation.

Would you hand over your gold stack if a bunch of armed and jackbooted thugs showed up to "enforce the law" by taking them? Well cryptos are like that. It makes it very difficult for them to take stuff from you...unlike digital debt dollars.
 

Lancers32

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Eventually, we'll all have a line right? I mean we can all assume the government can ramp up financial repression backed up with guns if we wish, ...and yet eventually I won't comply. Eventually when someone, even a government stooge decides some portion of what's mine is theirs for the taking and comes for it, I will shoot them rather than just handing it over.

The point is to make it as difficult as possible for these assholes that think we exist only to support their debt dollar slave plantation.

Would you hand over your gold stack if a bunch of armed and jackbooted thugs showed up to "enforce the law" by taking them? Well cryptos are like that. It makes it very difficult for them to take stuff from you...unlike digital debt dollars.
If that comes to pass you might want to find someplace where you are treated better.
 

solarion

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Ah, you mean like Canada, New Zeeland, Australia, Poland, Georgia(country), etc?

Yeah, the globalists don't care where you hide...they hate you and want you chipped and enslaved or dead.

I've thought about it. I love Georgia, Hungary, and Poland and if/when the current ruckus over there settles down...then maybe at some point. The others above have been proven to be run by pure communist asshole tyrants that have already convinced the people there to give up their guns.

There are some nice options in SA as well worth considering. I like Buenos Aires.

Edit: Looks like we're making another run in PMs. I sniped off another stack of GDXU on the pullback...was surprised when it executed, as I thought I'd lowballed too aggressively. Neato.
 
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Lancers32

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Doug Casey lives in Uruguay problem with all of these SA countries is they have gone along with the Ukraine good Russia bad line.
 

Casey Jones

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Cash is going to die, and potentially precious metals IF the commies have it their way.
Basically, all economic activity will die. You will own nothing, and you will be hungry. Get in the soup line, citizen. Mind that facecrime.

Bitcoin won't save us. Only putting the communists and other totalitarians on pain of death, will save us. If anything can.

I still think PMs are the best bet - not that they can be used in such an environment, but that they can OUTLAST that chaos. Dig a hole, put them in, and they're there.
 

gringott

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ZZZZZ

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Doug Casey lives in Uruguay problem with all of these SA countries is they have gone along with the Ukraine good Russia bad line.

Doug Casey owns houses in about a dozen countries and I think 4 passports. cool:
.
.
 

Lancers32

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Doug Casey owns houses in about a dozen countries and I think 4 passports. cool:
.
.
And since the lockdown has been streaming from Uruguay.
 

ds_mustang

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US government can outlaw crypto, and crypto usage/development will happen in other countries. Likely the US will revert any restrictions as that happens and join the ranks of the other silly countries banning then unbanning crypto. Meanwhile anyone involved in crypto tech will move elsewhere to countries not as authoritarian and restrictive.
 

Buck

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US government can outlaw crypto, and crypto usage/development will happen in other countries. Likely the US will revert any restrictions as that happens and join the ranks of the other silly countries banning then unbanning crypto. Meanwhile anyone involved in crypto tech will move elsewhere to countries not as authoritarian and restrictive.
how many do you think that will be in ten two years months?

asking for an investor friend i know...
 

Scorpio

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Meanwhile anyone involved in crypto tech will move elsewhere to countries not as authoritarian and restrictive.

and those who choose to do so, will have a awful lot at their disposal,

look at what chin li and others lose when they ban this activity, and watch what others gain by their actions,

makes it very enticing for some to be deemed 'crypto friendly'

there is already a very large amount of economic activity generated from crypto, and it is in only in the beginning stages of finding its place in the world of finance,

to ban it seems quite draconian, as well as short sighted to what a future may look like