DONT BE FOOLED.
Regulation or crypto is a pretense used by regulators to undermine the development of crypto. Regulators have adopted an unreaonable heavy handed approach by focing crypto businesses to adopt the same KYC/AML standards as large banks or money transfer operators that process million - trillions worth of transactions. In the area of ICO's regulators are implementing legislation to force ico issuers to abide by the same highly complex compliance standards applicable to large companies undertaking an ipo. The approach taken tdoes not make sense considering large banks such as hsbc or danske bank are at the center of most cases of money laudering.
Regulators are in the pocket of the Banking industry. Ask yourself how much times regulators have gone after major financial institutions such as Goldman Sachs or JPM. Most actions are settled with a small fee. The regulators NEVER impose serious sanctions such as industry bans, or refferal to criminal prosecutors.b
The regulators are in the pocket of the large banks and are keen to prevent crypto from threatning the bottom line of the banks they serve.
The banking establishment is beginning to become aware of the threat of crypto.
REGULATORS ARE THE ENEMY OF CRYPTO.
As crypto gains more traction as a monetary asset it is likely that there will be considerable backlash by central banks who will coerce government to severely limit access to crypto by the likes of retail persons. The arguments used to justify such legislation will most likly be based on bullshit excuses such as investor protection, or the prevention of money laundering.
There are already initiatives in the US to ban crypto. Also, has expressed considerable reservations about the power of crypto to undermine central banks. To put it simply, regulators will try and destroy or severely restrict access to any crypto asset that becomes popular enough to threaten the power of major fiat currencies. Remember, from 1933-1975 the US government banned private gold ownership to prop up the federal reserve and to establish its monetary monopoly. The same thing will happen in the future.
Its beginning now. See below for evidence.
https://www.forbes.com/sites/billybambrough/2019/05/15/a-u-s-congressman-is-so-scared-of-bitcoin-and-crypto-he-wants-it-banned/The EU's anti money laundering regulations 2017 require all eu based wallet providers to identify wallet holders. This is because governments want to iidentify crypto holders especially large crypto holders. The EU is implementing the legislative infrastructure for a mass seizure if the bnking establishment decide that crypto must be banned in order to protect their monetary monopoly.
There are efforts in the US to ban crypto in order to protect the federal reserve and by extension the private banks that own the federal reserve. Once the legislation passes you expect the us to threaten sanctions against any country that does not either ban or severely limit any crypto asset that threatens the federal reserve.
A mass seizure is on the cards just like in 33.
For solutions to protect your crypto assets against the oncoming clampdown
https://bitcointalk.org/index.php?topic=5159944.new#new
