The saga continues…
The Feds’ Crypto Crackdown Continues
“The 3 judges ruled the SEC failed to adequately explain its disparate treatment of one BTC ETF such that its denial was “arbitrary and capricious”…
This news story is part of a series of bonehead moves by the Federal government to try and curtail the adoption of a different financial system.
For well over a year now, multiple fund managers have petitioned financial regulators to bring on more Web3 ETFs.
Of course, Web3 presents a major threat to the legacy financial system — we’re talking about a decentralized ecosystem built on blockchain technology.
There’s been deliberate stonewalling. Gary Gensler can’t tell us the difference between a commodity and a security, because if the SEC gave clarity it would allow the Web3 industry to grow.
It gets worse.
Last week, the DOJ cracked down on the co-founders of Tornado Cash.
This is an open source program that allows digital assets to be anonymized, by putting them into a “tornado” that passes a bunch of transactions around.
Kinda like the hidden ball trick in baseball.
There was a Russian programmer who was sanctioned by the Feds… and a US citizen that was arrested and is now out on bail.
Here’s the thing: All these guys did was write code. It’s open source, and anyone can deploy it.
(Unless you’re an American. The addresses for Tornado Cash have been sanctioned by the US Treasury Department. If you come close to those addresses, you’re in deep trouble.)
The Department of Justice is trying to take them out for providing money services… effectively violating KYC (know your customer) and AML (anti-money laundering) rules.
The whole thing stinks, and it’s just one part of a larger temper tantrum that the Feds are throwing because they’re losing hegemony over capital.
The current regime feels threatened, and they’ve been pushing an immune response you can use as a signal of sorts.
Kinda like when a political leader says “everything’s fine” in the middle of a crisis… you know it’s going to get worse.
These kinds of “soft signals” can spell large profits.
Especially if you know which ones to look for… and where to find them.
For instance, there’s a nondescript government form you can find on a federal agency’s website that’s been one of the best stock buying signals I’ve ever come across.
It just flagged several new setups, actually — click here and I’ll walk you through them, and show you exactly how to find this signal yourself.
