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The US Treasury Wants To Prevent Bitcoin Adoption

The US Treasury Wants To Prevent Bitcoin Adoption

Dec 5, 2023
Marty's Ƀent

The US Treasury Wants To Prevent Bitcoin Adoption

via CoinCenter

I know we're all very excited about the current price pump that is going on. If you're interested to understand what may be driving the price to run as fast as it is right now check out our letter from last night that highlighted a few potential factors contributing to the run well above $40,000.

Why Did Bitcoin Pump Over $42,000?
Nothing gets the adrenaline flowing like a few consecutive $1,000+ green candles and looking back seven days at a +12.23% gain.

As we said last night, nothing gets the adrenaline pumping like a string of massive green candles and some vindication after a brutal bitcoin bear market. However, don't let the price mania distract you from the speed bumps that are lying on the road ahead. All of the bullish fervor could quickly turn into existential dread if the Treasury has its way. Last week, the Treasury Department sent a letter to the heads of the Senate Banking and House Financial Services Committees that included recommendations for regulations on the digital assets industry that are being driven by concerns raised over a story from the Wall Street Journal that falsely claimed Hamas and Hezbollah had exchanged $93 million in cryptocurrency since 2021, which helped finance their terrorist attack on Israel in early October. The Wall Street Journal wound up issuing a correction that revised that estimate down to $12m.


And later, Chainalysis released a report claiming that Elliptic's heuristics were bunk and that they could only find $450,000 worth of crypto moving from wallets tied to Hezbollah and Hamas.

via Chainalysis

Before these corrections were made the public was led to believe that leveraging cryptocurrencies was the predominant way the attack by Hamas was funded, which created a convenient boogeyman for feckless politicians and bureaucrats to screech about. And, in typical scum bag fashion, the Treasury Department is neglecting to acknowledge the multiple corrections to this story to attack bitcoin, the industry growing around it and open source software projects that enable anyone to easily receive and send bitcoin. Including bitcoin full nodes that enable individuals to validate what is happening on the network at any given point in time. The lifeblood of the distributed system providing us with an exit from the woefully corrupt and increasingly tyrannical US federal government.

If the Treasury gets its way by having these recommendations turned into laws, it would immediately make thousands of American bitcoiners criminals overnight. Janet Yellen and crew are attempting to have lawmakers push through regulation that would require full node operators, open source software projects, mining pools and individual miners to be regulated as financial institutions. Making all of these actors subject the antiquated and unconstitutional Bank Secrecy Act overnight. This would immediately stall any innovation around bitcoin here in the United States and push individuals and businesses out of the country overnight and it would, again, make a number of law abiding citizens criminals. For simply trying to protect their wealth in a monetary good that cannot be debased in the most secure, private and accessible way possible.

As we said last week, these people are criminals who should be shown no respect and should be met with as much push back and ridicule as humanly possible.

They are, quite literally, criminals who operate on a different plane; the higher tier in the two-tiered justice system that we find ourselves living within. They commit war crimes, take taxpayer money and funnel it to cronies, erect agencies that slow down the free market and introduce utterly insane things like the food pyramid and the COVID vaccine, travel on planes with notorious child sex trafficker/political blackmailer Jeffrey Epstein, and stand in front of the world and tell straight up lies every single day. - We Are at the "Loot the Treasury" Stage of Empire Collapse
We Are at the “Loot the Treasury” Stage of Empire Collapse
By bending over and asking for regulatory clarity you are failing to meet your obligation as a US citizen to disobey the unjust laws enacted by a vile class.

Time will tell as to whether or not these suggestions get turned into bills and eventually signed into law. Regardless of whether or not that happens and when it does or doesn't happen, one thing is clear, the Treasury Department is absolutely petrified of the power that bitcoin gives individuals and it is working as swiftly as possible to stop it dead in its tracks. If you want to live free and clear from the insanity of the federal government and escape from its grasp as it careens down the abyss of ruin, prepare to fight for it because they are getting ready to attack.

Final thought...

The work from home fad isn't for me.


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