Every now and then I get accused for spreading FUD, and today’s video is one that could elicit that kind of response…
I believe being informed is the most important thing, especially when we’re this deep into the bull market. It’s important to be aware of the factors that could cut it short, and one of these is the Financial Action Task Force’s finalized crypto “recommendations”.
As some of you may know, the FATF is one of the international organizations that seems to have an abnormal amount of power despite not being able to create any regulations per se. The FATF was initially created to combat money laundering, but the scope of its focus has expanded to “preserving the integrity of the financial system” or whatever vague phrase they use.
Obviously this is relevant to cryptocurrency, because crypto’s MO is to replace the current financial system. The FATF has been focused on crypto since 2018, and they issued their first recommendations in 2019. The thing is that crypto tech has evolved so quickly that both the FATF and the countries who follow its “recommendations” have had a hard time keeping up.
After taking comments from both public and private institutions, the FATF has now finalised it’s cryptocurrency “recommendations” which will turn into regulations in just about every country. It’s interesting that the institution that seems to be the most involved in the FATF is the US Department of the Treasury. Quite simply, they have control over the flow of money in the United States (whereas the Federal Reserve actually issues the money).
Given that the document containing FATF’s final crypto “recommendations” is over 100 pages long, it should come as no surprise that there is a lot of stuff in there that’s really crazy. Most of it is buried between the lines, and I’m sure that whoever wrote this document believes that nobody will ever actually take the time to sit down and read what’s in it.
Unfortunately for them, I intend to make this information known, because it’s extremely important for not just the future of crypto, but finance itself!
These international institutions can seem boring and benign, but you’d be surprised at just how much power and influence they have. If everything goes according to plan, the FATF’s crypto recommendations should be implemented in most countries by June 2022.
That’s all I’ll say here. You’ll have to watch until the end to get the full story, and believe me, this is a video you will want to watch until the end.
⛓️ 🔗 Useful Links 🔗 ⛓️
► FATF Final Crypto Recommendations: https://www.fatf-gafi.org/publication…
► Notabene FATF Countries (Scroll To Bottom): https://notabene.id/product-travel-rule
► Notabene FATF Crypto Companies: https://app.notabene.id/companies
► Patriot Act: https://en.wikipedia.org/wiki/Patriot…
► FATF Recommendations Have No Impact On Financial Crimes: https://www.ledgerinsights.com/anti-m…
► Thorchain: https://www.thorchain.com/
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.