Crypto regulation: security or freedom?

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Avatar for Jnavedan
1 year ago

I am a bit overwhelmed with what is going on in the crypto-verse. Although I'll be honest, I'm not at all surprised.

On more than one occasion, I threw out several ideas about the regulations on the doorstep in defense of the launch of CBDCs.

Last July 1st, the news transcended the Mainstream about the first comprehensive regulatory framework elaborated by the European Union for cryptocurrencies and Stablecoins.

https://cointelegraph.com/news/experts-weigh-in-on-european-union-s-mica-crypto-regulation

Also, a news item that still burns indicates that the Treasury Department is releasing a report on the framework addressing engagement on cryptocurrencies with foreign regulators.

https://cointelegraph.com/news/us-treasury-issues-framework-addressing-engagement-on-crypto-with-foreign-regulators

Every day the grip on cryptocurrencies will get tighter, especially with those that embody the purpose of the original Bitcoin.

As always, the arguments revolve around fighting terrorism and defending against illicit activities.

Reading expressions like ending "the days of the wild west" in European regulators makes me very suspicious.

No doubt, you will agree with me that; protecting citizens from scams in the crypto-verse sounds good. However, it is a pity that the ailments they are trying to eradicate are very much present in the traditional financial system.

In that sense, it is total hypocrisy, or maybe I am an idealist and have a skewed view because the cyberpunks do not see that they are right.

Should one agree to give up privacy to be protected in totalitarian surveillance of one's personal economy?

When I think of this. I am reminded of the caged parrot in my parents' house. A beautiful bird with clipped wings that depended on human care.

Those in power think of you as a parrot to be locked up and controlled at all costs.

Moreover, they want us to repeat and believe everything they tell us.

A parrot has longevity similar to ours and can even live up to 100 years. Of course, if it manages to avoid the dangers of its habitat.

I wonder how happy a parrot will be in a cage?

Sure not very much, since we know of cases where they try to escape at the first opportunity. It is not for pleasure, nor because they look good that their wings are clipped.

Well! I see cryptocurrencies, especially Bitcoin Cash and other similar ones like Monero, as the wings they want to clip.

One is a parrot to whom Satoshi Nakamoto opened the cage's doors, waiting for wings to grow and to fly with total freedom.

In this sense, the path is not easy. It is up to us to keep sure that the door remains open and that the wings grow through knowledge and actions consistent with protecting the path we have traveled.

Source: Image by Celso Veiga on Pixabay 

An original article by @Jnavedan

The thumbnail by Sergei Tokmakov Terms.Law on Pixabay 

Cover image by blende12 on Pixabay 

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Avatar for Jnavedan
1 year ago

Comments

Crypto regulation is all governments' dream. But, the crypto community still doesn't have a privacy-preserved payment processor. While using cryptos for payment, the KYC takes the full identity documents of a person. Thus, personal data privacy has to leak to the payment processor of cryptos.

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1 year ago

Crypto regulation is all governments' dream. But, the crypto community still doesn't have a privacy-preserved payment processor. While using cryptos for payment, the KYC takes the full identity documents of a person. Thus, personal data privacy has to leak to the payment processor of cryptos.

Hello, my friend

I agree with you. If KYC is something they need for CEXs, inclusive, the public ledger on the Blockchain gives information on transactions that could lead to account owners.

Only the digital identification system with global reach integrated into the monetary system for total control is missing.

Greetings.

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1 year ago

In my opinion, we need privacy and we need freedom (which includes total responsibility), but we do not need protection. If we accept protection, who will protect us against our protectors?

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1 year ago

Hello, my friend.

I totally agree with you. We were born free and responsible for our actions, but over time the artificiality of society with the creation of the organization as an institution placed the bars that deprive us of the enjoyment of really living.

Our supposed protectors are like the cat outside the cage that sees the parrot, ready to devour it at the slightest carelessness.

Greeting.

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1 year ago