Even in the US. Congress, not all politicians are against Bitcoin and cryptocurrency and they will fight for this market and for their political future too.
Of course not everybody agrees with these crazy policies: those are the only ones who understand that the USA could lose a huge future market. Look at what China did with the bitcoin mining bans, they just hurt themselves. I understand that the USA are worried about the dollar but I don't think many American politicians are looking for the future, they are just worried about what is going on right now. 
Topic: FED action against bitcoin & crypto - page 2. (Read 451 times)
Apr. 24: Samourai Wallet Founders Arrested and Charged With Money Laundering
Privacy wallet devs arrested for... Developing a privacy wallet. One was unfortunate enough to be arrested in the U.S. and the other will be facing an extradition battle.
Apr. 30: Binance founder Changpeng Zhao sentenced to 4 months in prison after plea deal
CZ Got sentenced to a jail sentence in spite of him having made a very extensive plea deal with the feds only to avoid jail. He had even given up his role as CEO. CZ had willingly come to the U.S. to stand trial and he still didn't manage to avoid a sentence even though he fully cooperated. Albeit a small sentence it goes to show how ferocious feds can be.
May 1: DOJ charges ‘Bitcoin Jesus’ with $48 million tax fraud, seeks extradition
Early bitcoin supporter and investor Roger Ver, who had rescinded his U.S. citizenship and was traveling on a Saint Kitts passport he had bought, was recently arrested abroad. Now the feds are seeking his extradition.
May 2: Wasabi Bitcoin privacy mixing service to shut down starting June 1, zkSNACKs cites legal certainty concerns
Another prominent privacy wallet shut down its privacy component proactively in light of developments from the U.S. pursuing action against privacy wallet developers.
Privacy wallet devs arrested for... Developing a privacy wallet. One was unfortunate enough to be arrested in the U.S. and the other will be facing an extradition battle.
Apr. 30: Binance founder Changpeng Zhao sentenced to 4 months in prison after plea deal
CZ Got sentenced to a jail sentence in spite of him having made a very extensive plea deal with the feds only to avoid jail. He had even given up his role as CEO. CZ had willingly come to the U.S. to stand trial and he still didn't manage to avoid a sentence even though he fully cooperated. Albeit a small sentence it goes to show how ferocious feds can be.
May 1: DOJ charges ‘Bitcoin Jesus’ with $48 million tax fraud, seeks extradition
Early bitcoin supporter and investor Roger Ver, who had rescinded his U.S. citizenship and was traveling on a Saint Kitts passport he had bought, was recently arrested abroad. Now the feds are seeking his extradition.
May 2: Wasabi Bitcoin privacy mixing service to shut down starting June 1, zkSNACKs cites legal certainty concerns
Another prominent privacy wallet shut down its privacy component proactively in light of developments from the U.S. pursuing action against privacy wallet developers.
They have always been against it because they consider it as a threat to the present financial systems of the countries.While developers are increasing the bitcoin Software network,bitcoin is controlled by us all,and it'll take a very long time and efforts to transform whatever it is that bitcoin delivers to us.
This whole actions determines that bitcoin is a decentralized and the expected attempt to change or terminate it wouldn't be available or coming easily.
Aside from being a financial threat they don't really like the idea of being anonymous and those officials doesn't want people to have that option since its hard for them to track certain activities happening in online space and they don't want that money laundering will be rampant by the help of those platforms or coins that help some transaction not to be track by feds. That's why they do this massive campaign which is to eliminate those platforms and they are successful to drop down each of those famous mixers and other platform which running into same like model. Government make it look like decentralized since they find ways to control it and they use their power to make those things happen.
I think this should have been Happening, this AG at the DOJ right now doing all of this will be Remembered for Starting this, for being the Pioneer in Arresting Cryptocurrency Criminals. This is Reports. It is Done.
Apr. 24: Samourai Wallet Founders Arrested and Charged With Money Laundering
Privacy wallet devs arrested for... Developing a privacy wallet. One was unfortunate enough to be arrested in the U.S. and the other will be facing an extradition battle.
Apr. 30: Binance founder Changpeng Zhao sentenced to 4 months in prison after plea deal
CZ Got sentenced to a jail sentence in spite of him having made a very extensive plea deal with the feds only to avoid jail. He had even given up his role as CEO. CZ had willingly come to the U.S. to stand trial and he still didn't manage to avoid a sentence even though he fully cooperated. Albeit a small sentence it goes to show how ferocious feds can be.
May 1: DOJ charges ‘Bitcoin Jesus’ with $48 million tax fraud, seeks extradition
Early bitcoin supporter and investor Roger Ver, who had rescinded his U.S. citizenship and was traveling on a Saint Kitts passport he had bought, was recently arrested abroad. Now the feds are seeking his extradition.
May 2: Wasabi Bitcoin privacy mixing service to shut down starting June 1, zkSNACKs cites legal certainty concerns
Another prominent privacy wallet shut down its privacy component proactively in light of developments from the U.S. pursuing action against privacy wallet developers.
Privacy wallet devs arrested for... Developing a privacy wallet. One was unfortunate enough to be arrested in the U.S. and the other will be facing an extradition battle.
Apr. 30: Binance founder Changpeng Zhao sentenced to 4 months in prison after plea deal
CZ Got sentenced to a jail sentence in spite of him having made a very extensive plea deal with the feds only to avoid jail. He had even given up his role as CEO. CZ had willingly come to the U.S. to stand trial and he still didn't manage to avoid a sentence even though he fully cooperated. Albeit a small sentence it goes to show how ferocious feds can be.
May 1: DOJ charges ‘Bitcoin Jesus’ with $48 million tax fraud, seeks extradition
Early bitcoin supporter and investor Roger Ver, who had rescinded his U.S. citizenship and was traveling on a Saint Kitts passport he had bought, was recently arrested abroad. Now the feds are seeking his extradition.
May 2: Wasabi Bitcoin privacy mixing service to shut down starting June 1, zkSNACKs cites legal certainty concerns
Another prominent privacy wallet shut down its privacy component proactively in light of developments from the U.S. pursuing action against privacy wallet developers.
They have always been against it because they consider it as a threat to the present financial systems of the countries.While developers are increasing the bitcoin Software network,bitcoin is controlled by us all,and it'll take a very long time and efforts to transform whatever it is that bitcoin delivers to us.
This whole actions determines that bitcoin is a decentralized and the expected attempt to change or terminate it wouldn't be available or coming easily.
There are many communities that are hostile to Bitcoin and crypto, so the FED is providing a lot of benefits. A higher level for the FED to be set by the Federal Reserve can have various effects on the Bitcoin environment. Cryptocurrencies, with their inherent volatility and lack of established financial history, are especially sensitive to changes in the interest rate environment, which will help the FED address all of their issues. This is evidenced by the historical price action within the cryptocurrency market
CZ sentence and Bitcoin Jesus arrest doesn't seem to me like an attack on Bitcoin or crypto, they both got what they deserved. Despite CZ's cooperation with the authorities, I think he's very lucky because he won't get such sentence in other part of the world. BJ on the other hand found himself at the wrong side of the law for tax evasion.
Since this topic is about feds crackdown on crypto, you might want to add LocalMonero/AgoraDesk1 to your list. It has just announced that it's winding down it's operation and I don't think the timing is a coincident.
1. https://agoradesk.com/blog/announcements/winding-down
Since this topic is about feds crackdown on crypto, you might want to add LocalMonero/AgoraDesk1 to your list. It has just announced that it's winding down it's operation and I don't think the timing is a coincident.
1. https://agoradesk.com/blog/announcements/winding-down
Here's some more news:
May 3: BTC-e Operator Pleads Guilty to Money Laundering Conspiracy
This has been a long time coming with the U.S. openly colluding with national justice systems in Europe. Instead of going through the country's court systems, the U.S. urged a direct extradition order from a ministerial office in Greece. Ever his arrest, for operating an unlicensed exchange BTC-e which was one of the biggest at the time, the U.S. FEDs are surely trying to make an example of Alexander Vinnik.
May 4: Former Cred Executives Indicted on Wire Fraud, Other Charges
I'd argue that this is a good development as case law against "crypto lender" ponzi schemes can only be a good thing given how much money has been stolen through them.
May 3: BTC-e Operator Pleads Guilty to Money Laundering Conspiracy
This has been a long time coming with the U.S. openly colluding with national justice systems in Europe. Instead of going through the country's court systems, the U.S. urged a direct extradition order from a ministerial office in Greece. Ever his arrest, for operating an unlicensed exchange BTC-e which was one of the biggest at the time, the U.S. FEDs are surely trying to make an example of Alexander Vinnik.
May 4: Former Cred Executives Indicted on Wire Fraud, Other Charges
I'd argue that this is a good development as case law against "crypto lender" ponzi schemes can only be a good thing given how much money has been stolen through them.
It's weird that FUD spreaders aren't celebrating with all these negative news, I guess there's not a lot of people out there that's taking them seriously nowadays that it's not worth their time to be a hater of bitcoin anymore. It's such a surprising thing too that they're actively moving against crypto again, really crazy that they're suddenly hostile with bitcoin and crypto again, I do hope though that this will only strengthen the community though. The arrest of Roger Ver is one of the biggest one in my opinion, $48m alleged fraud? Wow! Suddenly they're doing all of this now? They really must need Ver's wealth.
And as for me I leverage this type of news. Because FUD news, charges from known Exchanges, New Government policies, for me it only creates price manipulation. It manipulates participants of Bitcoin and cryptocurrency by putting in negative stance in the market. Those news creates fear that would push emotions of many investors or hodler. They may get convinced to sell their position. And it's nothing new, Crypto space has been in many negative issues before but still BTC is in a very bullish market sentiment especially after adapting to changes in the halving season.
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It's government against Bitcoin users's privacy, against Bitcoin's through nature of decentralization, and against platforms that promote and support privacy. The government loves transparency, and since they can't get a hold of everything they want to know, plus the fact that money laundering cases are now becoming popular with cryptocurrency,.
It's nothing new that the government hates a system that is not transparent; they always want to oversee everything, and this is going to continue as they will not also rest. I also saw a post stating that two mixers were recently suspended too. I don't know how true that is, but it could be true because of the other mixers that have been banned in the past.
It's nothing new that the government hates a system that is not transparent; they always want to oversee everything, and this is going to continue as they will not also rest. I also saw a post stating that two mixers were recently suspended too. I don't know how true that is, but it could be true because of the other mixers that have been banned in the past.
They may be anti-privacy but they may want Bitcoin.
In some wallets that make the decision to stop Coinjoin services do not want to get unwanted things like Wasabi.
I think certain parties want to control Bitcoin in such a way that they continue to look for loopholes as they have and are doing.
Initially on the mixer and on the services related to it.
Another possibility in my opinion, they would stop everything they are doing if they could control Bitcoin like they control the fiat financial system.
In some wallets that make the decision to stop Coinjoin services do not want to get unwanted things like Wasabi.
I think certain parties want to control Bitcoin in such a way that they continue to look for loopholes as they have and are doing.
Initially on the mixer and on the services related to it.
Another possibility in my opinion, they would stop everything they are doing if they could control Bitcoin like they control the fiat financial system.
US and it's enforcement authorities are furious as they have realised that they cannot control crypto at all. So they are targetting businesses like Binance. Mixers are different story. But I was surprised to see CZ getting 4 months of imprisonment.
It's high time that crypto businesses move out of US completely stop rendering services to the US customers. They will eventually Target all businesses built around crypto.
It's high time that crypto businesses move out of US completely stop rendering services to the US customers. They will eventually Target all businesses built around crypto.
These actions are not against "bitcoin and crypto", they are clearly against mixers, which they are clearly coming after.
And their concern is money laundering and tax evasion, not people holding and trading crypto, which millions do every day and are under no risk of prosecution.
This is not, repeat not a crackdown on cryptocurrencies.
You can debate whether the government should be cracking down on anonymized services that allow transactions that are impossible to be tracked by a government with a valid subpoena, but that is all they are targeting here.
And their concern is money laundering and tax evasion, not people holding and trading crypto, which millions do every day and are under no risk of prosecution.
This is not, repeat not a crackdown on cryptocurrencies.
You can debate whether the government should be cracking down on anonymized services that allow transactions that are impossible to be tracked by a government with a valid subpoena, but that is all they are targeting here.
The case with binance and cz does not have anything to do with BTC, cz was guilty of money laundering and the other offences he was charged with, he paid fines of a large amount and is going to stay in prison for four months, so that is that.
As cryptocurrency is growing we can’t expect for the government to turn a blind eye into everything they see. That’s why we are seeing a spike of cases wherein any crypto-related personas are being sued and arrested left and right. However even though some of these cases just like with cz’s who has nothing to do with bitcoin ir crypto itself, we can not deny that the government might be taking this as a win against crypto.Quote
However, there is an obvious attack against BTC, through privacy options that service bitcoiners and also anything that enhances privacy.
The government obviously goes against bitcoin and giving up control and privacy to us citizens so I am sure that they are alarmed and trying to learn about crypto as much and as quick as possible.Quote
The government isn't even going to stop here, many countries want to launch their cbdc's, so what better way than to attack BTC's fungibility and in turn promote their own digital currencies.
They will do anything so that the ball is still in their court. We shall see how it all plays out.
Another piece of news that was glanced over by most is that the DTCC will not be considering BTC and any crypto ETFs as collateral, in their own words giving those assets a 100% haircut for collateral purposes:
The US has many other trust companies registered with the U.S. Federal Reserve System. The country also has five other registered clearing agencies besides the Depository Trust Company (DTC). If they decide not to accept BTC and other cryptocurrencies as collateral, others will take it. When an organisation has an anti-Bitcoin Board of Directors, it will do everything to give the sector a bad reputation.
The case with binance and cz does not have anything to do with BTC, cz was guilty of money laundering and the other offences he was charged with, he paid fines of a large amount and is going to stay in prison for four months, so that is that. I have always said that centralized exchanges and custodial services are into a lot of shady things, and prosecuting them can serve as a deterrent to others.
I am not a fan of centralised platforms but it is worth noting that the government is also attacking them directly or indirectly. The government keep making new laws to make their operation difficult. The scope of what is money laundering keeps expanding every day. These new regulations are strategies to push these crypto service providers out of business. An example is the closing of many Bitcoin ATMs in the UK because of regulatory infringements. The Bitcoin ATM operators could not renew their licences because the process has become rigorous.
"They" have always been against Bitcoin, or more precisely against the idea that BTC basically represents - which is a decentralized cryptocurrency, and when you mention those words (decentralized cryptocurrency) to any of the politicians/bankers, their pressure immediately rises and they start behaving strangely.
What is happening right now is obviously a coordinated action towards all tools that have the possibility of mixing BTC, although this happened before to a somewhat lesser extent. I don't see anything strange in that, it is more than logical behavior of people who are obsessed with controlling everything and everyone.
Also, in the last few days, two well-known mixers have "disappeared", apparently in an attempt not to become a target. Obviously, a very clear message is being sent - "we will kill your privacy sooner or later".
What is happening right now is obviously a coordinated action towards all tools that have the possibility of mixing BTC, although this happened before to a somewhat lesser extent. I don't see anything strange in that, it is more than logical behavior of people who are obsessed with controlling everything and everyone.
Also, in the last few days, two well-known mixers have "disappeared", apparently in an attempt not to become a target. Obviously, a very clear message is being sent - "we will kill your privacy sooner or later".
I think the government has realized that cryptocurrency will succeed no matter how tough they act on it. However, they are still very interested in their no privacy policy, which would surely give them information on everyone using Bitcoin and others. Privacy is surely the right of everyone and it's not negotiable.
They have scrutinized exchanges and companies that have been all-out for crypto. It's for sure that they're seeing where this is heading and that's to greater success of Bitcoin. And it's not just about the possible success of Bitcoin but also it includes our privacy. They're violating our rights to privacy but even with that, they're telling who's the boss.
It's weird that FUD spreaders aren't celebrating with all these negative news, I guess there's not a lot of people out there that's taking them seriously nowadays that it's not worth their time to be a hater of bitcoin anymore. It's such a surprising thing too that they're actively moving against crypto again, really crazy that they're suddenly hostile with bitcoin and crypto again, I do hope though that this will only strengthen the community though. The arrest of Roger Ver is one of the biggest one in my opinion, $48m alleged fraud? Wow! Suddenly they're doing all of this now? They really must need Ver's wealth.
Another piece of news that was glanced over by most is that the DTCC will not be considering BTC and any crypto ETFs as collateral, in their own words giving those assets a 100% haircut for collateral purposes:
https://www.dtcc.com/-/media/Files/pdf/2024/4/26/B20002-24.pdf
This news came on April 26 and started to apply from April 30. This means that any holder of crypto ETFs can no longer use them as a margin hedge. Obviously it's bad news for institutional investors. The DTCC might not be a federal agency but it's the closest thing there can be to a state organization as the U.S. is one of the few countries where central clearing houses are private and aren't associated with the government and the state. So it's a very authoritative decision by the main organization affecting such transactions in traditional financial markets. There was no explanation as to why this happened but it's not too unlikely that there was some behind the scenes FED involvement to make this happen after crypto ETFs stared getting official approval.
https://www.dtcc.com/-/media/Files/pdf/2024/4/26/B20002-24.pdf
This news came on April 26 and started to apply from April 30. This means that any holder of crypto ETFs can no longer use them as a margin hedge. Obviously it's bad news for institutional investors. The DTCC might not be a federal agency but it's the closest thing there can be to a state organization as the U.S. is one of the few countries where central clearing houses are private and aren't associated with the government and the state. So it's a very authoritative decision by the main organization affecting such transactions in traditional financial markets. There was no explanation as to why this happened but it's not too unlikely that there was some behind the scenes FED involvement to make this happen after crypto ETFs stared getting official approval.
The case with binance and cz does not have anything to do with BTC, cz was guilty of money laundering and the other offences he was charged with, he paid fines of a large amount and is going to stay in prison for four months, so that is that. I have always said that centralized exchanges and custodial services are into a lot of shady things, and prosecuting them can serve as a deterrent to others.
I actually thought the SEC was trying to bring down Binance in the first place, but I literally didn't believe the money laundering charges. I think centralized exchanges place themselves in such positions where things can go against them at any point in time. Lately, I have learned that these agencies are literally after everything related to crypto, whether centralized or decentralized. Which means they also disturb exchanges(centralize) that are under their(SEC's) supervision.
Quote
However, there is an obvious attack against BTC, through privacy options that service bitcoiners and also anything that enhances privacy. The government isn't even going to stop here, many countries want to launch their cbdc's, so what better way than to attack BTC's fungibility and in turn promote their own digital currencies.
I think the government has realized that cryptocurrency will succeed no matter how tough they act on it. However, they are still very interested in their no privacy policy, which would surely give them information on everyone using Bitcoin and others. Privacy is surely the right of everyone and it's not negotiable.
Somehow, the crypto ecosystem needs some form of regulation to some extent so people that comes into the system don't use it decentralized nature as an excuse for abusing it and using it to carry out evil agenda.
What the FED are doing is a two sided narrative, on the one hand, they are trying to paint a picture that the crypto ecosystem can't be totally void of there regulation and by so doing they tend to infringe on the privacy of her users and deny them of some key fundamental rights they have to carry out there financial transactions the way they want to. On the order hand, which to some extent isn't bad is that they might want to fetch out the bad eggs from the system so as to discourage whoever might have any intention of using crypto in a way that will be dangerous to the society.
But this is just too much for most persons that are just joining th system not long ago. In my region, we've been denied access to the use of binance, a major threat has been issued out to delist our currency from major exchanges and while thier hasn't been an outright ban on crypto in general, the laws and regulations that's now affecting all crypto users generally sena to become a major source of discouragement for all crypto enthusiast.
What the FED are doing is a two sided narrative, on the one hand, they are trying to paint a picture that the crypto ecosystem can't be totally void of there regulation and by so doing they tend to infringe on the privacy of her users and deny them of some key fundamental rights they have to carry out there financial transactions the way they want to. On the order hand, which to some extent isn't bad is that they might want to fetch out the bad eggs from the system so as to discourage whoever might have any intention of using crypto in a way that will be dangerous to the society.
But this is just too much for most persons that are just joining th system not long ago. In my region, we've been denied access to the use of binance, a major threat has been issued out to delist our currency from major exchanges and while thier hasn't been an outright ban on crypto in general, the laws and regulations that's now affecting all crypto users generally sena to become a major source of discouragement for all crypto enthusiast.
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