Recent attacks on cryptocurrency involving staking, Kucoin, Ethereum, and now even President Biden proposing a 30% tax on miners, have sent the crypto community into a panic. SEC Chairman Gary Genslar has an obvious dislike toward crypto and is not doing much to hide that. With lawsuits and forced settlements against companies like Kraken, Gemini trust and Genesis Global, Genslar's agenda has caused mass fear and sent ripples throughout the crypto world. Rather than attempt to create regulations that protect the public but also make it desirable for crypto companies to operate in the United States, Genslar is on a mission to make it as difficult as possible. He has not provided any clear guidelines for safe crypto operations, but instead seems to enjoy speaking in public, and causing as much FUD as he can.
All of this is done for "our" protection, or so we are lead to believe. But let's be honest, there is a clear agenda here. The United States, and its politicians are controlled by money, greed and power. The political machine that is, is desperately trying to maintain hold of a failed banking system. A system that has had to be protected, saved and bailed out too many times before. A system that has allowed the few at the top to flourish and the rest of us to just get by and survive. There is a money printing machine in Washington and it never seems to stop working. This has only lead to a devaluing U.S. dollar worldwide and for the first time in history there are at least 16 countries seeking alternatives to the US dollar as the world's standard. It amazes me that this doesn't seem to be recognized by most people and the politicians have no problem with it. The industry most terrified by crypto is easily the banking industry.
Rather than embrace something that could not only give millions of people financial freedom and true control of their money, there is a group of powerful old men, bankers and politicians, who are doing everything to hurt their constituents and deepen their own pockets. They are scared beyond belief to lose the leverage they have and see the people in control of their finances. They fear losing the money train that lines their pockets at the cost of the American people. The disgrace that is taking place is disgusting and not what this country deserves. Of course we want to be protected from scams and scammers alike, but there is plenty of good in the crypto universe, and designing regulations that make sense are what is needed. To keep knocking down the industry is useless as this point. The United States acts like it controls crypto for the world, but alas, they don't realize that this train has started and isn't going to stop. They may slow it down, for a little while, but the world has already accepted it.
In the last decade, no investment has come close to performing anywhere near Bitcoin. Nothing is even in its league and the planet has taken notice. Since December of 2021 crypto has been in a brutal bear market, yet that hasn't stopped corporations all over the world from investing in its technology and applications. Blackrock, the largest investment company in the world has put Bitcoin in its portfolio, and shown support for crypto in general. Google, Dell, Boeing and Ubisoft are among a few of the massive companies working with Hedera (Hbar). Micro Strategy, Microsoft, Ark, Tesla, Google and Amazon are all companies that have been quietly investing in and researching cryptocurrencies. They all see applications for the technology that will benefit the future and technology as a whole. This alone should tell you, and those dusty old politicians and bankers, that crypto isn't going away.
The technological possibilities that exist with crypto are going to change the planet. Dubai, London and Hong Kong are cities that have made commitments to become hubs for cryptocurrencies. They see the future and understand that crypto brings in huge money. The jobs and technology they will gift to those cities will change them and their financial future forever. Gary Genslar recently brushed the threat of technology companies going abroad aside, claiming that the laws being made in Europe aren't going to be effective. I don't understand how he can be so flip, so obvious in his contempt for crypto, that he will smear his own reputation in such an important position. How about he does something about the federal money printing and what that is doing this nation.
What would happen if the United States embraced cryptocurrency? The next big thing, like the internet was, like automobiles were, is upon us and the United States could be at the forefront of the greatest technological times in the history of the planet, and with that they would be able to fix a financial system that has been deteriorating for decades. The jobs that would be created would be the envy of the world. The new technologies would create advances we have only ever dreamed of. The United States would once again be able to regain its position as the financial leader of the world, rather than continue to create national debt that has reached a critical point. It is time to move out the dinosaur politicians who have already made their fortunes and seem to want to keep everyone else on the outside. It is time for the American people to wake up and see how they are being manipulated by a system that has seen the salaries of corporate CEO's grow by more than 200 times the average worker's salary. It is time for the American people to get angry and demand change. I love this country and all the freedoms we have with all my heart and thank God everyday that I get to live here, but we need our politicians to start working for us, the people. Let us be financially free.
