Scent Of Fear

Scent Of Fear


Facebook is a piece of garbage, if you ask me, but on the other hand, it is probably the most used app in the world at the moment. There are individuals who have created themselves parallel lives around this thing. Facebook is also working to set the bases of "their metaverse" and pushing towards creating its own stablecoin and payments system that would be at hand for billions around the world.

There have been talks of a stable coin issued by Facebook for years now, it was at first named Libra and now rebranded as Diem. It seems though that US Lawmakers Push Back on Facebook’s Novi Wallet Launch. Novi is the wallet supposed to be used in dealing with Diem.

Under the pilot project, Facebook will let users purchase Paxos dollars (USDP) and custody the funds with Coinbase.
”We urge you to immediately discontinue your Novi pilot and to commit that you will not bring Diem to market,” the lawmakers wrote on Tuesday.

“To be clear, your ability to secure state-issued money transmitter licenses is not equivalent to obtaining the blessing of ‘all U.S. regulators,’ as you said in your testimony two years ago. In addition to the risks products like Diem pose to financial stability, you have not offered a satisfactory explanation for how Diem will prevent illicit financial flows and other criminal activity.”
source

As usual, whenever there's an organization outside governmental ones, or a community such as the crypto one that is trying to "create its own money and economies" they'll hit the wall of regulators. The narrative regarding Facebook's Diem is that how Diem will prevent illicit financial flows and other criminal activity...

How is the US preventing such illicit financial flows and criminal activities with banks for example, how is Deutsche Bank "allowed to live" after having probably the biggest case of criminal money laundered in history, how can safe heavens exist, that we all now are used for "staking criminal money", and all sort of banking services available in Switzerland that are dealing with such money? How?!

I'd address one more question to these regulators: *what type of money is that that they gave to ISIS in funding their war power in Syria and how do they see the oil they took from Syria as an exchange currency for defense actions taken against ISIS. I don't know how many of you are aware of it, but the US has been fueling fire on both sides not once in its not so long history on earth...

You don't get that on TV though. I know about these things from a friend who spent a few hours talking with someone who was in the Syrian army during the war against ISIS, not your average soldier of course, a refugee in Sweden now, who has details on how the US was actually sponsoring ISIS to be able to fight the Syrian army and then offering themselves to protect the Syrian army in exchange for oil.

Aren't those crimes as well? I'd say they are, but who knows about such details and where are the regulators to ask them about "that money".

I am not a fan of facebook and honestly wouldn't advocate for Diem and their payments system, but I sure see one thing in this oppressing attitude coming from lawmakers towards Facebook and it's nothing but fear. Governments are fearful towards loosing the money printing control they had so far.

Now we have crypto, we have DeFi in crypto, crypto companies that can facilitate payments and connect networks between social media apps and merchants, we literally have our own printers. What would be the point of the USD then, if whole new economies would be built on the internet and totally out of the control of the state? They would loose power, that's why they're so afraid.

They don't give a shit about illicit funds and criminal money... If they cared enough they would have investigated Jeffrey Epstein many years ago. It's all about control and their control is getting weaker. I'm not saying Diem could be called cryptocurrency, but it's another player among cryptocurrencies that are in the power of shaking the establishment.

It's that simple...

Thanks for attention,
Adrian

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acesontop
acesontop

I'm an amateur blogger, crypto holder, and a passionate fisherman for as long as I can remember. For more details please ask, it's free. You can find me on steemit.com: https://steemit.com/@acesontop and Hive: https://hive.blog/@acesontop/feed


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