Fixing The Unfixable Before It Breaks

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"Truth be told" that I have never imagined a country in the world, especially the US will ever have a Ministry of Truth. How odd does that sound and how totalitarian as well... It's like we're that dumb now we can't discern truth from lies anymore?!

Binance is the largest crypto exchange by trading volume in the world, it has been forced to move out of China back in 2018 and for a while the CEO, CZ, said that they literally have no headquarters. They seem to have found an adopting home and now the black and yellow crypto exchange seems to be the most compliant one.

Binance is so compliant that it has already terminated the accounts of Elizaveta Peskova, the daughter of Russian President Vladimir Putin’s spokesman Dmitry Peskov, Polina Kovaleva, the stepdaughter of Foreign Minister Sergei Lavrov, and Kirill Malofeyev, the son of Konstantin Malofeyev, a Russian oligarch.

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How nice... Binance is really helping in stopping the war.

To be in line with the fifth wave of sanctions introduced by the European Union toward Russia, Binance made changes to its policy a week ago. The company limited services for “Russian nationals or natural persons residing in Russia, or legal entities established in Russia, that have crypto assets exceeding the value of 10,000 EUR.” People subject to the restriction will need to complete proof-of-address verification.
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I am not aware if there is still any CEX not requiring KYC when using it, but I bet that all of them will have to comply to that in just a few years. We already have the bill voted in the EU, which will be put into effect as of 2024 if not mistaking, that forces exchanges to KYC unhosted wallets that are transacting with them.

As per the bill the maximum amount that allows Europeans to go under the radar is €1,000, but what guarantees do we have it's not going to change. So, we have the ministry of truth in America and we're less than a year until transacting crypto worth over €1,000 to and from any CEX will require KYC.

Add CBDCs to that equation and the question is:what freedoms do we still have? Oh wait, we also have WHO that's supposed to be granted higher power than states constitution and before you know it we're gonna be living a living hell, but quite a modern one. Probably not as bad as China's but quite close... Does crypto fixes that? I hop so...

My faith is that decentralized blockchain technology coupled with DeFi and the media of the future, such as Hive, will help us preserve our freedom and sovereignty. There's no guarantees, though, but that doesn't have to stop us from grinding ahead.

Wish you a great weekend ahead, anyway, and see you to the next post.

Thanks for attention,
Adrian

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I'm glad that Binance is banning those people - that will form part of a much needed wake-up call to newer crypto investors who care only about profits: crypto is about FREEDOM and DECENTRALISATION. Let them see the penalties one pays for doing crypto the wrong way.

CBDCs should not change much for the common man, as long as one remembers that they have nothing to do with crypto - at all. They will help with the enforcement of authoritarian laws, but those laws are generally already in place.

My faith is also firmly in decentralised crypto - it is our best shot at winning our lost freedom!

P.S. I wonder why the US chose to name it "The Ministry of Truth". Was "Reichsministerium für Volksaufklärung und Propaganda" already taken?

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Was "Reichsministerium für Volksaufklärung und Propaganda" already taken?

Most certainly:))

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Everyone should avoid using CEXes for custodial purposes for obvious reasons lol.

Many will find themselves in an unfavorable position once their asset get frozen - and than, they will blame crypto in general.

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I have many doubts about binance and whether my hard earned money is really safe.

Since my country venezuela is an ally of russia, and binance is not going to give the loquera to binance and cancel the accounts of the countries that support russia.

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This is why I am focusing and hopeful about decentralized exchanges. If crypto catches on they will have to fight it and turn up the heat. Or at least they (banks/government) think they will have to.

This will hopefully cause them to turn up the heat to fast and the frogs in the pot will begin to notice and jump out :-)

HIVE is a moderately decentralized entity (at least from an identity standpoint and governance). Thorchain in my mind is a very promising blockchain too. Privacy coins with any strong privacy also.

Here's hoping!

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There have been several measures taken to ensure that this war ends, yet there haven't been change.

It has dragged on for far too long. The people of Ukraine don't deserve these killings.

How did we get here?😓😓

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