White House Says Crypto "Bad", Used for Terrorism and Illegal Drugs, Only USD is "Good"
Crypto is only for drug users, and terrorists. Crypto is bad. The USD is the only valid currency which isn't used in drug deals or terrorism. That's the message being given by the White House as they try to counter the rising influence of crypto in the population.
Source CoinTelegraph
In the Agust 21 release titled Advisory to Digital Private Sector Platforms on Illicit Activity and Methods Related to the Marketing of Fentanyl and Synthetic Opioids, they warn of how financial data analyses shows online payment systems (i.e. cryptocurrencies) are used for manufacturing and selling or illicit drugs:
“An analysis of sensitive financial data indicates that domestic illicit drug manufacturers, dealers, and consumers use online payment platforms or CVC to purchase precursor chemicals or completely synthesized narcotics primarily sourced from China.”
Specifically singled out are "bitcoin, bitcoin cash, ethereum, or monero".
The White House wants financial institutions to monitor online customer profiles and mobile device information to get “virtual currency wallet addresses, account information, transaction details (including [...] hash), relevant transaction history, available login information (including IP addresses)".
The U.S. Department of the Treasury is determined to become an authority to prevent an “equivalent of Swiss-numbered bank accounts” from cyrpto use.
I guess prior to cryptos, terrorism, tax evasion, human trafficking, drug manufacturing, selling and use was so small and insignificant, only crypto has made it a problem. The USD was never involved in any of this, right? LOL.
Only the USD can be trusted. Don't pay attention to the rising debt, inflation and mass printing of the dollar leading to its devaluation and likely collapse. The USD is the only dependable and reliable currency to use in Ameria. Sigh...
References:
Better than TV :D
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There was no Terrorism and drugwars before the Cryptos. Thats a fact. 😂😂😂
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FACT! Take that to the bank all you crypto wackos! :P
While there probably is a lot of criminal activity taking place in crypto, it is unlikely it is the go to for the same reason it has not been adopted as a currency for the business world. No one wants to accept Bitcoin (pick your coin/token) at 15k and 1 month later it is only worth 11k. The fluctuations from manipulation are to extreme to be a safe transaction choice at this time.
With Trump, I am guessing he believes (like many) in the federal Reserve debt notes. They have been very kind for him, allowing him to leverage cash flow that allows him the luxury of being a paper billionaire. For any who wish to understand more, I recommend reading or watching videos by Robert Kiyosaki on the techniques of using debt to acquire cash flow assets.
Yup, the volatility is not for regular currency use. It's just a medium for the speculators to trade. Trade coins to ride and dump...
I was just talking to some friends about crypto and the environment we’re in now. Thankfully they were both into it but didn’t know about Steem. Hoping I was able to help get them on here in the good stages!
Hope your partners pregnancy is going well! Is she having morning sickness or any of those tough parts of the journey?
No sickness, just reduced appetite. Getting her to eat in smaller portions ;)
Is this a joke from the white House? Terrorism and drug trafficking are not a new thing. Even the USD and other fiats can never stop terrorism and drugs because these currencies are also used for such purposes.
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The sad part is, that people actually believe this crap.
Yup, talking heads feeding the minds of the masses the "Reality"
The white house just wants to maintain a strong dollar for the global market.
Indeed, and it's all faltering...
a great scapegoat!
finally the reason of the Universe evil is detected.
(facepalm)
Hmmm. It's almost like the government does not have the best interest of its citizens in mind. Check my last entry. If you dare ...
Yeah 9/11 is a cesspool of lies that justified the longest war in recent times, trillions of dollars, making the warmongers richer and dominating the planet.
It's always ironic to me when I see people claiming bitcoin or crypto are used for illegal drugs and stuff like that when fiat currency is almost certainly by and large the main offender in regards to such. I have to assume they know this as well and are just trying to keep some sort of illusion alive in a propaganda sense and they aren't really that dense... Sure is fascinating one way or the other how desperately they try to cling to their paradigms.