At the G20 meeting last week, cryptocurrencies were at the top-of-mind during presentations by the International Monetary Fund. The group is working on regulations for cryptocurrencies which would neuter them by removing the most appealing aspect about the burgeoning industry.
Ironically, their claim that there is currently “no talk of banning cryptocurrency” hit hard on two levels. First, the need to even state that they’re not talking about it yet means they plan on talking about it in the future. Second, it lines up with theories that the powers-that-be will attempt to piggyback on the popularity of blockchain currencies to force the centralized and fully-controlled digital currencies they want to roll out to the world.
Let’s quickly explain the huge difference between cryptocurrencies like Bitcoin and CBDCs like the upcoming “Digital Dollar.” With cryptocurrencies, there is inherent security and privacy because they are decentralized. They aren’t foolproof but they currently act as a relatively untouchable way to hold wealth, albeit in a volatile environment. CBDCs are, by their very nature, centralized and controlled. They may share similarities from a technological perspective but they are diametrically opposite when it comes to authoritarian control over them.
If the globalists, central banks, and most governments have their way, they will regulate cryptocurrencies, then pull a switcheroo and replace them with Central Bank Digital Currencies.
As reported by Madeleine Hubbard at Just The News:
A global consensus on cryptocurrency regulation is emerging from the G20 Summit in New Delhi, India, officials said Sunday.
Gita Gopinath, the International Monetary Fund’s first deputy managing director, said in a video that the Group of 20, which is currently led by India, “helped shape a global perspective on how policymakers should deal with crypto assets.”
IMF Managing Director Kristalina Georgieva said India led the way in “setting up a road map for crypto regulations,” and that her organization is “contributing to proposals for a comprehensive policy framework.”
Gopinath said that although principles have been agreed upon, “there is no talk of banning cryptocurrencies, indicating a global consensus against such measures,” according to Indian outlet Business Today.
Rather than legalizing cryptocurrency assets like Bitcoin as legal tender, the guidelines suggest creating licensing and registration processes for crypto asset issuers, focusing on treating the activities similarly.
For the last few years, it has been challenging to deny the benefits of cryptocurrencies in their current form. We promote physical gold and silver because they protect wealth in a tangible form, but cryptocurrencies have enjoyed other benefits that have made them smart investments in the eyes of many.
That appears to be changing.
Letting the globalist elite cabal regulate cryptocurrencies is like putting arsonists in charge of the fire department. They are threatened by cryptocurrencies, but their beloved CBDCs can fix it for them.