Recently, the U.S. Treasury Department published three reports, each of which assessed key concerns on their respective topics (money laundering, terrorist financing, and weapons proliferation financing).
Each report had a blurb about cryptocurrencies. And you might be shocked by what you read…
This One Tool Powered My $1.4 Million Trading Windfall
I could never have seen the trading success I’ve seen in my career without Fibonacci trading. If you’ve ever watched me trade, you’ve seen me use Fibonacci. And if you’ve ever wondered how I do it, you can now get every class I’ve taught on the topic for just $47.
There’s this persistent belief, no matter how often it’s disproved, that the Federal government has it out for cryptocurrency.
The thought is that the Fed wants to control all money, and they’re not thrilled that the crypto boys and girls of the world have found a way to circumvent their stranglehold on power.
Now, let’s be real: there’s definitely some truth to the idea that the Fed (or any government, for that matter) isn’t going to be wild about someone else creating an alternative to something they control.
But at the same time, if they were going to swoop in and destroy cryptocurrency like the doomsters proclaim, wouldn’t they have done that already?
Which brings us to the reports I mentioned.
The Treasury Department released three reports, essentially about dangerous ways money can be spent. And while none of them were about crypto, per se, they each talked at least briefly about what crypt meant for their given topic.
Here’s what they had to say when it comes to money laundering:
“The use of virtual assets for money laundering remains far below that of fiat currency and more traditional methods.”
Hmm…
That seems strangely positive for an institution hell-bent on destroying digital currencies. Let’s try again with terrorist financing…
“Terrorist use of virtual assets appears to remain limited when compared to other financial products and services.”
Okay. 0 for 2 on the old “the Fed hates cryptocurrency” storyline.
But maybe weapons financing comes to a different conclusion?
“There is no evidence that a proliferation network has used a virtual asset to procure a specific proliferation-sensitive good or technology.”
Well, there you have it.
Three times, in three different reports, the U.S. Treasury — one of the most trusted (depending on who you ask, I guess) authorities on currency and finances in the world — affirmed that cryptocurrency and digital currencies are actually safer than traditional fiat currency in regards to crime.
If they truly hate cryptos like some folks say, they’re sure doing an awful job of showing it.
You’ve head me talk till I’m blue in the face about how we’re in the “Age of Adoption” when it comes to crypto, and this is just more proof.
The fact of the matter is, if the Fed does do anything about crypto, it’s far more likely to create a digital currency of its own than try to shut down the ones that are out there.
There are too many influential, powerful people already too deep in crypto for it to go away now.
And that’s further proof that the Age of Adoption is here.
Jeffry Turnmire and InvestPub do not provide investment advice. Trading involves a substantial risk of loss and is not suitable for all investors. Many traders fail and you should not trade with money you cannot afford to lose. If you need personal financial advice, consult a financial advisor.
Daily Profit Publishing and Jeffry Turnmire do not provide investment advice. Trading involves a substantial risk of loss and is not suitable for all investors. Many traders fail and you should not trade with money you cannot afford to lose. If you need personal financial advice, consult a financial advisor.
We are not licensed to provide you personalized investment advice. Nothing in these communications should be construed as personal investment or financial advice.
0 Response to "New Treasury Department report on crypto…"
Post a Comment