How Many Governments Are Going To Drive Crypto Out Of Their Countries?
The CEO of RIpple says if it loses its suit against the SEC, the company is leaving. This is no surprising since the growth for it is internationally.
In this video I discuss how this is something that is paramount to understand. How will governments, politicians and, worse, bureaucrats, run the next generation internet out of their countries? An organization like the SEC is a cancer for this.
▶️ 3Speak
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governments and politicians want to have total control of everything and how with Cryptocurrencies they cannot find a way to control them
Most governments will love to do away with cryptocurrency. The ones trying to adopt it are only being inclusive. The centralized governments can't accept anything that they can't easily control.
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I think we have no idea how many people in the govs consider crypto a huge Ponzi scheme and will try to get rid of it unless they find ways to control every aspect of it.
Is it even a possibility? Several efforts have been made in Ghana, but they have all failed. However, experts have advised the government to invest part of the central bank's assets in cryptocurrencies. Even though it is not legally and officially used in Ghana, we continue to benefit from free and strong crypto transactions on a daily basis. Sir, thank you for bringing this up.
Summary:
In this video, Task talks about a recent statement made by Ripple's CEO regarding the ongoing case between Ripple and the SEC. The CEO mentioned that if Ripple loses the case, the company will move its corporate headquarters to Canada. Task discusses his concerns about the actions of the SEC and its impact on the cryptocurrency industry as a whole. He critiques Gensler's approach, expressing a belief that he is overreaching and potentially damaging the industry. Task highlights the decentralization of the cryptocurrency space and the need to continue developing decentralized infrastructure to protect against regulatory overreach. He emphasizes the importance of building on decentralized blockchains to create a more resilient industry.
Detailed Article:
Task's discussion begins with the recent statement made by Ripple's CEO, highlighting their potential move to Canada if they lose the case against the SEC. Task expresses his lack of concern for Ripple specifically but emphasizes the possible industry-wide implications if Ripple were to lose the case. He criticizes the SEC, particularly Gensler, for their perceived overreach and eagerness to regulate the cryptocurrency industry. Task questions Gensler's motives, speculating whether he aims to protect investors or certain interests within the financial system.
The conversation moves on to the historical context of regulatory actions impacting the cryptocurrency industry, such as the case of mining operations being banned in China. Task points out the global nature of cryptocurrencies like Bitcoin and their resilience in the face of such regulatory challenges. He touches on the potential job losses in the San Francisco area if Ripple were to relocate, attributing it not to market forces but to regulatory actions.
Task delves into the SEC's focus on unregistered securities rather than fraud, questioning the regulator's priorities. He contrasts the treatment of traditional financial entities like JP Morgan or Goldman Sachs with newer players in the industry like Ripple. Task discusses the lack of consistency in regulatory enforcement and questions Gensler's stance on protecting investors.
The conversation transitions to the need for decentralized infrastructure in the cryptocurrency space to avoid regulatory interference. Task emphasizes the importance of creating systems that operate outside the control of governments and central banks. He mentions the decentralization of ledger transactions and the need to build a global, decentralized digital infrastructure to resist regulatory overreach.
In concluding his discussion, Task stresses the importance of accelerating the development of decentralized infrastructure in the cryptocurrency space. He advocates for the creation of derivatives and decentralized applications to further spread the decentralized network. Task encourages viewers to continue building on decentralized blockchains to ensure the industry's resilience against regulatory challenges.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.