Is this the end of Crypto Industry?
Disclaimer.
This article is all about the observation and its own opinion regarding to the situations and status of the certain topic. Sharing the opinion and some of factual Information with reaction is not against on the humanity and rights. Please respect.
Well, base on my prediction in the past year (2020) that crypto currency will be under in the custody of the centralized principle which are the authorities and government.
Most of the politician especially trump and other in the dominant country doesn't like crypto movement, and it feels like it is against on the interest of the foreign policy.
I predict it, they will crack down the crypto currency and force it to be under and give shares on the government. It will be against on the motto, democracy and freedom of people's money.
Since trump post this. Lately 2019.
After I read this statement last 2 years ago. I predicted that in the future government will take steps to dismantle the crypto industry.
I got the conclusion that one day crypto industry will be force to be part of the centralized principle even it was a decentralized.
We've known that crypto currency has enormous benefits for people and it gives rights to do with their own money. But there are always a pros and cons on it that is why the government starting monitoring it.
What about the reactions of those enthusiastic people? ... Kindly comment your reactions
The beginning of the government campaign
First the XRP issue.
XRP labeled as a security, and the company was told that they violate the protection of the investors.
This issue that was tackle worldwide last December 22, 2020. Most of the enthusiastic persons was shock on that issue and some of them give their opinions that this is the time where in government will take its place against Crypto currency owners.
My insight on this part that if the XRP controlled by the SEC there is a probability that someday they will take over and handle all crypto projects and it will be forcefully under a contract or signed for a permit before they can operate.
Next, they will label the USDT stable coin as a security.
You can read the entire part of it.
The reason of the US Treasury labeled USDT as security. Because the government has an idea and they wanted to monitor the liquidity and protection of this stable coin to be fair and for the user benefits to avoid losses, fraud, and scams.
Next, Coinbase gives a tweet about the government's actions.
This part of the crypto industry called an anonymous market were in most of the people here enjoying their privacy and information where in reality it gives benefits to those crypto investors to remain anon and their safety. Cryptocurrency gives most of the profit while they storing their assets, unlike banks they rarely put high interest per deposits and capital.
If the day comes out that cryptocurrency must under government monitoring. Cryptocurrency will get in trouble and they need to pay more tax since the government will put tariffs in the future.
So, in this article. These are my insights and opinions regards the situation that the crypto industry faces. If the crypto industry doesn't take it seriously. Probably they will centralize soon.