The state takes control of crypto business

I’m seriously concerned about trends in the crypto business. On the surface, the situation looks quite positive: Bitcoin is growing, the SEC does not take any extraordinary actions, the US government has agreed with Binance, and is unlikely to continue to pursue the exchange.

It would seem possible to forget about the problems associated with regulation and quietly go into business. However, not everything is so simple, if you look closely, the events will seem very disturbing.

Satoshi Nakamoto began working with bitcoin for non-commercial, rather ideological, reasons. Now they may seem naive, but at the same time, we must not forget his original ideas.

From a user’s perspective, the main features of the very first Blockchain are as follows: anonymity, the impossibility of cancelling transactions, the impossibility of blocking user Wallets, and the absence of financial intermediaries like banks. This contrasted sharply with what the banking industry had proposed.

Nakamoto proposed a system free of control, on the one hand, and completely transparent, on the other. Of course, such a system could not please the state and the financiers. Accordingly, a reciprocal move was inevitable. The state had two options: to destroy or lead, taking control. Judging by recent events, the second way was chosen.

Binance has fully embraced the control of US regulators, Tether cooperates with intelligence agencies and blocks sanctioned wallets, Ethereum is discussing the introduction of compliance. 

Sadly, the crypto world is changing. Now the state is trying to embed cryptocurrencies into the existing financial system. Blockchain, in addition to the independent crypto, proved to be very convenient for organizing total control. In fact, the Central Bank’s CBDC is designed to provide such control.

And what to do? In fact, everything that happens is almost inevitable. And we will develop Meta Force, and in its principles, we have just laid the basic principles of Satoshi Nakamoto.

#SEC #Blockchain #SatoshiNakamoto #MetaForce #CBDC