This silly little lady has no clue how the blockchain works. Sitting there making ridiculous remarks like “criminals use it to hide what they are doing”….erm, Lizzy love, the blockchain is transparent, that’s the whole f**king point dear.
The chief legal officer of Ripple, Stuart Alderoty, puts it nicely:
“Before other politicians join Senator Warren’s anti-crypto army, remember her 2020 campaign for the Democratic presidential nomination failed so miserably she dropped out after being declared unelectable”.
She even thinks that cracking down on TikTok will help ban Bitcoin. It’s laughable that she is associating the two in the same sentence.
Its common knowledge that drug lords and human traffickers favourite currencies are the US dollar and the Euro i.e. CASH! I remember when Steve Mnuchin was challenged about it by CNBC live on camera and he sat there and said the US dollar is not used for money laundering, due to AML HAHAHAHAHAHA. It’s a joke.
It’s not looking good for the USA though. They cannot stop crypto or turn it off, but what they will try to do is limit on/off ramps. This is pretty dumb also, as it will move back to the underground and they will be unable to tax it. People will revert to using dark web market places to buy things.
It is my belief that businesses like Binance.us will wrap up and move elsewhere. They do not need the Americans as much as the American government thinks. All exchanges and crypto businesses in the USA will migrate to crypto friendly bases, such as Malta & Puerto Rico and the USA will miss out on all the taxable events and ultimately be left behind.
Thankfully I live in the UK, we don’t have this problem yet, but the problem we have is our Prime Minister Rishi. He has come in and said our £12,300 capital gains allowance (£24,600 if you are married), will be slashed to £6000!!! for 2023. This infuriates me as I was looking forward to pulling out £24,600 in crypto profits tax free this year. At least we have on/off ramps for now, but ffs he gave us literally no notice whatsoever, I wish I had taken more profit beforehand.
It’s possible that Trump could get back in again if he turns himself in and wins back the people. Anyway, let’s see how Warren gets on…
Cheers for reading x