Tuesday, January 24, 2023

In the News - Slow Official Squeeze to Crypto Assets #Bitcoin #Ethereum #Cryptocurrency

“If you don't read the newspaper, you're uninformed. If you read the newspaper, you're misinformed.”

“Whenever you find yourself on the side of the majority, it is time to reform (or pause and reflect).”

― Mark Twain

Subscriber Comments

Expect a steady diet of restrict policies toward crypto assets in the future. This is all planned. Crypto investors need to adapt, and move fast.

As of February 1, 2023, SWIFT will no longer process currency transactions below $100,000 USD from bank accounts to crypto exchanges. The lack of coverage from the crypto community confirms their position as "cheerleaders of the cause" rather than source for investment decision-making (see headlines below).

Source: Binance Users Can No Longer Use Swift for Transactions below $100k

Source: Binance SWIFT banking partner set to ban USD transfers below $100K

Europe also quietly announced that banks will be forced to hold one euro of their own capital for every euro they hold in cryptocurrency. Here comes the slow official squeeze on crypto competition.

Source: EU lawmakers back 'prohibitive' capital rules for cryptoassets

This announcement supports the following conclusions: (Strongly encourage everyone to read this)

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