Daily Archives: September 9, 2023

The accounts of 80 popular cryptocurrency influencers, each with more than 8 million followers, have been removed from one of Chinas most popular social media apps, as Beijing maintains its tight grip over crypto activities.

The Weibo accounts, which promoted cryptocurrencies, had breached eight regulations in China covering areas such as marketing, internet safety, telecommunications, trade and finance, Weibo Finance said in a statement on Tuesday.

The Beijing-based firm said it would continue to receive complaints from users and initiate investigations on illegal virtual currency trading information in accordance with local laws.

The account suspensions follow a major nationwide crackdown on crypto speculation in August 2022, when the Cyberspace Administration of China (CAC) ordered the removal of 12,000 crypto-related accounts on websites including Weibo and search engine Baidu, and 51,000 social media posts promoting virtual assets.

At the time, the CAC said it would continue to strengthen its crackdown on illegal securities activities that exist on those platforms and strictly uphold related rules.

The latest closure of crypto-related Weibo accounts is part of a wider cleansing of online information by the company, which said it dealt with more than 140,000 accounts involved in spreading false or harmful information.

In September 2021, 10 top government agencies in China jointly declared a broad range of cryptocurrency-related activities as illegal financial activities.

However, activities related to virtual assets continue to exist in China, with some operating in a legal grey area.

Still, the government has remained steadfast in cracking down on cryptocurrency mining, which involves intensive energy consumption.

Prosecutors recently brought one of the countrys largest miners of the open-source, public cryptocurrency Filecoin to court, charging four executives with crimes including organising and leading a pyramid scheme involving more than 600 million yuan (US$82 million).

Additional reporting by Lilian Zhang

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Chinas Weibo banishes 80 prominent crypto influencers - South China Morning Post

As one of the tastylive network's producers, Ryan Sullivan fields questions from listeners calling in to the live show all day long. Do you have a finance or trading question for our research team to answer in this column? Send it to ryan.sullivan@tastylive.com

Today's question was inspired by Crypto Conversations:

There are different views on whether cryptocurrencies, like Bitcoin, might harm traditional money systems. Your opinion might depend on your understanding of cryptocurrencies, their growth potential, and their effect on central banks and monetary policies.

Some people think cryptocurrencies could disrupt central banks' control over money, causing financial instability. Others believe they can coexist with traditional finance, helping those without bank access and speeding up transactions, though this poses regulatory issues.

Some see cryptocurrencies as a tool for financial innovation, capable of changing finance and inspiring the creation of digital currencies from central banks. Others see cryptos as risky investments, which do not threaten traditional systems but could cause instability if a bubble bursts. Lastly, some worry that cryptocurrencies could damage the control a country has over its money, especially in places with weak currencies.

With such a wide array of views, it can be beneficial to gain insights from industry professionals. One such expert, Ilya Spivak, the head of global macro at tastylive, shares his unique perspective on the matter. Let's delve into Spivak's perspective on cryptocurrencies and their potential impact on traditional monetary systems.

Since their emergence in the wake of the 2008 global financial crisis, cryptocurrencies have struggled to convince a broad-enough coalition of believers to accept that they are truly a form of money. To take up that role, these new digital assets must deliver on three key functions.

They need to be effective at being:

Bitcoin and its ilk can be said to broadly achieve the first of these, though there are lingering questions about their efficiency, accuracy, and transparency relative to existing national fiat currency systems. The latter two are problematic. Crypto volatility and murky, uneven regulation undermine both.

It isnt difficult to understand why.

Consider the U.S. dollar. It is backed by the faith and credit of the U.S. government. That is far weightier than it sounds. The creditworthiness of the United States is underpinned by the largest and richest tax base in history. The country is also the worlds strongest military power.

This makes the U.S. overwhelmingly unlikely to default, while possessing all the might needed to incentivizeand, if push comes to shove, compelthose in its debt to pay up.

It is small wonder that the U.S. Treasury bond is the default risk-free asset for international financial markets while the greenback is used to settle over 80% of global monetary transactions, according to data from the Bank of International Settlements (BIS).

Such a scale means that the dollar is unrivaled in its liquidity, enabling it to absorb large capital flows without much volatility. It also encourages the development of deep, sophisticated financial markets where the multitude of participants demand robust and predictable regulation. These benefits are self-reinforcing, making for even greater scale.

Bitcoin and other cryptocurrencies lack these qualities by design because they were expressly conceived to enable transactions outside the reach of governmental oversight. Not surprisingly, they have been devilishly difficult to regulate.

This means that securing the level of trust needed for overwhelming adoption is ever elusive, which undermines liquidity. Which, in turn, keeps volatility uncomfortably high for something wanting to be money rather than a jumpy, speculative vehicle. This amounts to the U.S. dollars virtuous self-reinforcement dynamic in reverse.

All up, cryptocurrencies have little scope to become viable alternatives to national fiat-based systems. However, the blockchain and smart contract technology at their root enables a potent challenge to traditional financial intermediaries, like banks and credit card companies.

If national monetary authorities like the Federal Reserve can use it to create and efficiently manage vast digital payment systems without an army of private-sector middlemen, they will be able to cut them out of the loop and deal with customers directly.

This process is already underway. The Fed, the European Central Bank (ECB), the Peoples Bank of China (PBOC) and many others have made no secret of working on digital versions of their fiat currencies, the so-called CBDCs (central bank digital currencies) or govcoins.

When these become operational, the financial institutions left out of the equation will have to figure out how to keep customers cash on their books. That is likely to mean slashing prices for services and bringing premium offerings like tax advice and financial planning to the mass market. The alternative might lead to obsolescence and extinction.

Ilya Spivak, tastylive head of global macro, has 15 years of experience in trading strategy, and he specializes in identifying thematic moves in currencies, commodities, interest rates and equities. He hosts Macro Money and co-hosts Overtime, Monday-Thursday. @Ilyaspivak

Ryan Sullivan is an active options and forex trader and programming producer for the tastylive network.

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Is Cryptocurrency a Threat to Traditional Monetary Systems? - tastylive

In the ever-evolving landscape of digital currencies, there is a growing demand for an authoritative, global outlook on crypto regulation.

As we stand on the precipice of an era-defining shift in the financial world, the potential for significant changes in the way we deal with cryptocurrencies like XRP cannot be understated.

Stay updated with the latest XRP news to understand the impact of regulatory changes on your investments.

Before we delve into the regulatory changes and their implications, lets understand what were dealing with: cryptocurrencies have rapidly infiltrated the mainstream consciousness due to their inherent advantages over traditional financial systems; the ease of use, speed, privacy, and independence from conventional intermediaries make digital currencies an enticing alternative.

But with great power comes great responsibility with their unique features, cryptocurrencies have also brought about new challenges that traditional financial systems are not equipped to handle.

Issues such as market volatility, lack of consumer protection, and potential misuse for illegal activities have increasingly become a cause for concern.

Regulators worldwide have woken up to the challenges and opportunities presented by cryptocurrencies; however, their responses have been as diverse as the countries they represent while some nations have been encouraging, others have been cautious, resulting in a fractured global stance towards crypto regulation.

A unified approach to regulation is necessary to ensure the safe and sustainable growth of the global crypto market; in light of this, the call for a global regulatory framework has gained momentum.

A collective approach could bring stability to the market, enhance investor protection, and deter the misuse of these innovative financial instruments.

XRP, developed by Ripple Labs, has been a significant player in the digital currency world and an essential topic in recent XRP news, but it has also been under regulatory scrutiny, especially in the United States.

The global shift towards cryptocurrency regulation has considerable implications for XRP; if the new regulations can offer clarity on the status of XRP (a topic hotly debated as to whether its a security or a currency), it may improve market sentiment towards XRP, thereby bolstering its value and acceptance.

Still, the regulatory shift isnt all rosy for XRP more robust regulations might bring more intensive scrutiny to XRP and its operations.

The possibility of restrictive measures could impact its market standing and price dynamics; thus, staying informed through XRP news is crucial for investors and market participants.

The concept of crypto regulation is not a set-in-stone idea; instead, its an ever-evolving landscape shaped by technological advancements and global acceptance of cryptocurrencies.

The charm of decentralization that cryptocurrencies offer also presents a regulatory challenge finding a middle ground between maintaining the core principles of cryptocurrencies and imposing necessary regulations will be a vital part of future discussions.

Apart from investor protection, the focus of these discussions will likely include issues such as cybersecurity threats and the environmental impact of cryptocurrency mining.

Regulatory shifts dont only impact individual cryptocurrencies like XRP but also shape the global crypto market.

Uniform regulations can level the playing field, create fair competition, and promote market integrity, though they can also stifle innovation if not carefully crafted.

Regulations can boost investor confidence by offering more transparency and security they can also encourage institutional participation, leading to greater liquidity in the market.

Conversely, stricter regulations may cause a market contraction, at least in the short term, due to heightened scrutiny and possible limitations on crypto operations.

The era of global regulatory shifts in cryptocurrency is upon us, and the landscape is set to evolve at a rapid pace; investors and market participants must be proactive, keeping abreast with the changing regulations, which can significantly impact the value of their digital assets.

Following the latest XRP news and updates on other cryptocurrencies is a vital part of this proactive approach; in the crypto world, being knowledgeable is not just about wielding power its also about protecting yourself from potential pitfalls.

The ongoing global regulatory shifts in cryptocurrency will significantly impact digital assets like XRP and the broader crypto market.

As we move forward, regulatory clarity will become an increasingly important factor, influencing the sustainability and success of cryptocurrencies.

Understanding and navigating these changes is crucial for all stakeholders involved in this dynamic market.

Despite the challenges and uncertainties, the promise of cryptocurrencies remains high the journey ahead is likely to be exciting, albeit challenging, signaling a new era of financial innovation.

And as we navigate these changes, keeping informed through resources like XRP news will be the guiding light leading the way.

Disclaimer: This article contains sponsored marketing content. It is intended for promotional purposes and should not be considered as an endorsement or recommendation by our website. Readers are encouraged to conduct their own research and exercise their own judgment before making any decisions based on the information provided in this article.

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Global Regulatory Shifts in Cryptocurrency: Impact on XRP and ... - The European Business Review

Home Journal Why Bitcoin Spark Could Be Your Next Cryptocurrency Investment Over Dogecoin

Investor choices are vast and varied in the democratic crypto arena. While Dogecoin undoubtedly amassed attention with its charismatic Shiba Inu mascot and vibrant community, the hype fizzled out fast. Bitcoin Spark is entering the scene with a distinct value proposition. Can BTCS outshine Dogecoin to become a compelling cryptocurrency investment option?

A new era in cryptocurrency, fronted by Bitcoin Spark and driven by a mission to reshape the digital landscape through innovation, inclusivity, and unwavering commitment to decentralization, has dawned. The profound embrace of blockchains core principles lies in the heart of its vision.

BTCS aspires to set new standards through its Proof-of-Process (PoP) mechanism. It pioneers a blending of PoS and PoW to address critical concerns surrounding scalability, security, and decentralization. BTCS dedicates its ecosystem to making mining accessible to all. In championing inclusivity, it seeks to democratize the mining process, creating a network without computational power or resources restricting user participation. Its a testament to a future where the benefits of blockchain are within the reach of a wider, more diverse audience.

BTCS takes a significant step towards accessibility and utility through its innovative application, designed to simplify the process of renting computational power for mining and various tasks. This user-friendly tool aims to bridge the gap, making network engagement accessible to a diverse user base. The rewards generated within this ecosystem are thoughtfully distributed, fostering inclusivity and sustainability.

The ongoing BTCS Initial Coin Offering (ICO) has ignited a surge of interest and intrigue in the cryptocurrency sphere, capturing the imaginations of investors from various corners of the digital financial space. BTCS is affordably priced at $2.25 in the current phase four, accompanied by an exciting 10% bonus and a whopping expected ROI of 489%.

BTCS has audited its structures for transparency, stability, and compliance to guarantee investment safety and growth.

Dogecoins recent performance amid a booming crypto market has raised questions about its long-term potential. As of now, Dogecoin is stagnant and has never reached the $1 mark, and its paramount to understand the context behind this via Dogecoin news. Dogecoin, initially created as a playful and lighthearted cryptocurrency, was intended for something other than serious financial use and lacks the backing of tangible assets or a specific use case beyond tipping and small transactions.

While Dogecoin has garnered immense popularity and support from influential figures like Elon Musk, its value remains highly speculative, characterized by significant price volatility and risks, which are inherent in the cryptocurrency market. Potential investors must exercise caution and conduct thorough research before considering Dogecoin or any other cryptocurrency as an investment.

Dogecoin price stands at $0.64, having stagnated for weeks. Its current price is below its ATH by over 90%. DOGEs value has been driven by its meme coin status, drawing attention from internet communities, influencers, and social media platforms. These factors can result in rapid Dogecoin price movements but can also contribute to volatility and unpredictability. DOGEs price movements can also be influenced by broader market trends, including thealtcoin season, when many alternative cryptocurrencies experience price surges.

Find out more about Bitcoin Spark on:

Website|Buy BTCS

Disclaimer: We advise readers to do their own research before interacting with any featured companies. The information provided is not financial or legal advice. Neither CaptainAltcoin nor any third party recommends buying or selling any financial products. Investing in cryptoassets is high-risk; consider the potential for loss. CaptainAltcoin is not liable for any damages or losses from using or relying on this content.

CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

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Why Bitcoin Spark Could Be Your Next Cryptocurrency Investment ... - Captain Altcoin

Whenever someone carries out a cryptocurrency transaction, proof of that transaction is encoded into the currency itself. This digital ledger, known as the blockchain, lets crypto users verify the legitimacyor lack thereofof transactions by viewing a record of the cryptocurrency wallets that virtual tokens originated from and moved to. However, the blockchain doesnt name the owners of the cryptocurrency wallets involved in transactions.

Cryptocurrency mixers like Tornado Cash further enhance the level of anonymity by muddying these transaction histories.

To better understand the way a cryptocurrency mixer works, imagine a bank thats open 24/7. When you use the bank, instead of getting an account of your own, youre able to make a deposit into one massive, shared account.

Because your money isnt kept separately from everyone elses, when you deposit funds, you receive a code that can be used to get it back out later. You can keep that code to yourself or share it with someone you know so that they can pick up the money instead. The choice is yours, but, in either case, the transaction can be carried out anonymously.

The bank tracks how much money enters and leaves the shared account to ensure that no ones funds get stolenbecause the bank would be liable. But it doesnt track who put in or removed money from the shared account, when they did so, or why.

This is a dramatized example of how a law-abiding citizen could theoretically use a cryptocurrency mixerwhich acts as a shared storage unit for virtual currencyto move their tokens in an anonymous, decentralized way.

It kind of breaks that chain in the transaction history, which is really how you trace cryptocurrency within the blockchain as you see how it moves from wallet to wallet to wallet, explained Assistant Special Agent in Charge Paul Roberts, who leads the FBI New York Field Offices Complex Financial Crimes Branch.

Know Your Customer (KYC) and Bank Secrecy Act (or BSA) rules enforced by the Treasury Departments Financial Crimes Enforcement Network require that cryptocurrency mixers know who exactly is using their services and how, Roberts noted. He likened these rules to the identification requirements and mandatory forms associated with opening a new bank account.

However, Tornado Cash ignored these rules, and the companys posture allowed criminal actors and organizations like the Lazarus Group to launder money through the service.

Tornado Cash should have been registered as a money services business and should have been requiring people who are using their service to register those forms, Roberts said. A criminal syndicate wouldnt likely admit to opening an account with nefarious intentions, but required paperwork could have at least raised a red flag about the account holders identity, Roberts added. And, in theory, Storm and Semenov could have stopped the money laundering before it started.

To further complicate matters, even though the Lazarus Group wasnt required to complete paperwork to use Tornado Cash, Storm and Semenov still knew they were using their serviceand allowed them to do so.

[Storm and Semenov] implemented a change in the service so that they could make a public announcement that they were compliant with sanctions, but in their private chats, they agreed that this change would be ineffective, the Justice Department wrote. They then continued to operate the Tornado Cash service and facilitate hundreds of millions of dollars in further sanctions-violating transactions, helping the Lazarus Group to transfer criminal proceeds from a cryptocurrency wallet that had been designated by the Office of Foreign Assets Control as blocked property.

These actions collectively led to their indictment on charges related to money laundering, defying sanctions, and operating an unlicensed company.

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Tornado Cash Co-Founders Accused of Helping Cybercriminals ... - Federal Bureau of Investigation

Description

In a development that raises concerns about the health of the cryptocurrency market, trading volumes have plummeted to their lowest levels since 2019. Data compiled by CCData reveals that the combined monthly volume of spot and derivatives trading fell by 11.5% to $2.09 trillion in August, marking the second-lowest monthly total since October 2020. The Read more

In a development that raises concerns about the health of the cryptocurrency market, trading volumes have plummeted to their lowest levels since 2019. Data compiled by CCData reveals that the combined monthly volume of spot and derivatives trading fell by 11.5% to $2.09 trillion in August, marking the second-lowest monthly total since October 2020. The decline in trading activity has been consistent since April of this year, resembling the stagnant trading volumes witnessed during the bear market of 2019.

Spot trading volume on centralized exchanges dropped for the second consecutive month, falling 7.78% to $475 billion. This is the lowest monthly spot-trading volume recorded since March 2019. Derivatives trading volume fell 12.3% to $1.62 trillion, the second lowest since December 2020.

Binance, which remains the largest exchange for crypto spot trading, saw its market share shrink for the sixth straight month, settling at 38.5%, the lowest since August 2022. According to CCData, Huobis share in the global spot market activity has increased by 2.26%, making it the second-largest centralized spot exchange by volume. Huobi also accounts for 6.09% of the total spot market volume.

Source: CCData

The decline in trading volumes has created a challenging environment for exchanges and market makers. The collapse of Sam Bankman-Frieds FTX exchange last November severely dented investor confidence in centralized exchanges and significantly reduced market depth. Market makers profit margin has dropped by 30% after FTXs collapse, according to Bloomberg.

The tepid interest in cryptocurrency trading seems to be carrying into September, with Bitcoin, which accounts for about half of cryptos $1 trillion market capitalization, remaining largely unchanged at around $25,800. The leading cryptocurrency had almost reached $69,000 in November 2021, highlighting the drastic change in investor sentiment. The decline in trading volumes is particularly concerning given that even significant events, such as Grayscale Investments court victory over the U.S. Securities and Exchange Commission, failed to stir traders from their torpor.

In summary, the cryptocurrency market is currently witnessing a significant decline in trading volumes, reaching levels not seen since the bear market of 2019. The drop in activity has had a cascading effect on exchanges and market makers, who are already grappling with reduced profit margins and waning investor interest. While some fluctuations in trading volumes are to be expected in any financial market, the consistent decline over several months raises questions about the long-term health and investor interest in the cryptocurrency space.

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Cryptocurrency trading hits lowest volume in August: Report ... - Cryptopolitan

DUBLIN, Sept. 7, 2023 /PRNewswire/ -- The"Cryptocurrency Exchange Platform Market - Global Outlook & Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The globalcryptocurrency exchange platform market is on track to achieve significant growth to reach $110.12 billion in 2028 from $45 billion in 2023 with a projected Compound Annual Growth Rate (CAGR) of 16.08% from 2022 to 2028. This growth is primarily driven by the rising demand for cryptocurrency exchange platforms within the crypto gaming sector and the increasing adoption of blockchain technology.

Rising Demand for Cryptocurrency Exchange Platforms in Crypto Game Sectors

In 2023, the online gaming industry is experiencing a surge in popularity, with digital currencies or cryptocurrencies playing an increasingly prominent role. Many games are now integrating cryptocurrency directly into their in-game economies, and PlayToEarn (P2E) games are rewarding players with digital tokens or cryptocurrency based on their in-game achievements. This fusion of gaming and cryptocurrency is driving demand for cryptocurrency exchange platforms, as players seek to convert their digital assets into fiat currency or trade them online.

Blockchain Technology and its Influence

Blockchain technology is gaining widespread recognition for its security features and transparency. Blockchain serves as a distributed ledger shared among network nodes, offering not only secure and decentralized transaction recording for cryptocurrencies but also a range of other applications. These include non-fungible tokens (NFTs), decentralized finance (DeFi) platforms, and smart contracts. The versatility of blockchain technology presents opportunities for trade digitalization and mitigating the socioeconomic impacts of crises.

Gaming's Role in Cryptocurrency Mass Adoption

The concept of GameFi, or game finance, is gaining traction, combining traditional gaming with decentralized finance (DeFi) through blockchain technology. GameFi creates decentralized gaming markets that offer players financial opportunities and incentives through blockchain-based play-to-earn games. Players can earn cryptocurrency by participating in various in-game activities. The GameFi trend is expected to drive mass adoption of cryptocurrency, particularly among gamers.

Regulatory Challenges

Despite the rapid growth of the cryptocurrency sector, regulatory challenges persist. Governments, central banks, and regulatory agencies worldwide are working to understand the implications of virtual currencies. Investors and traders in cryptocurrencies face legal risks due to the evolving regulatory landscape.

Market Dynamics

Opportunities & Trends

Growth Enablers

Restraints

Segmentation Insights

Geographical Analysis

Vendor Landscape

The cryptocurrency exchange platform market is highly competitive, with both private and public companies. Key players include Binance, OKX, Kraken, Bybit, Coinbase, Crypto.com, and others. The emphasis on security and decentralized networks aligns with the growth of blockchain technology.

Key Questions Answered:

For more information about this report visit https://www.researchandmarkets.com/r/9kb9rw

About ResearchAndMarkets.com ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets Laura Wood, Senior Manager [emailprotected] For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716

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SOURCE Research and Markets

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Mass Adoption of Cryptocurrencies Propelled by GameFi Trends ... - PR Newswire

In the volatile world of cryptocurrency markets, September has brought with it a surge in bearish sentiment, amplified by the ever-present fear, uncertainty, and doubt (FUD). While this might sound concerning to some, history has shown that such periods of pessimism often pave the way for significant opportunities, particularly for patient traders.

Cryptocurrencies have always been subject to wild price swings, largely driven by sentiment and speculative trading. When the majority of the market turns bearish, it tends to create an environment where asset prices become undervalued relative to their long-term potential. This discrepancy between short-term sentiment and long-term fundamentals can be a goldmine for those who can see beyond the noise.

When fear and doubt dominate the discourse, it can lead to panic selling, pushing prices to levels that do not reflect the underlying technology or the projects potential for adoption. For patient traders, this presents an opportunity to accumulate assets at a discount.

Moreover, the probability of a price bounce or recovery tends to rise as FUD becomes the majority sentiment. This is because markets often experience sharp reversals when sentiment reaches extremes. Savvy investors recognize this pattern and position themselves accordingly, taking advantage of oversold conditions.

However, its essential to exercise caution and conduct thorough research during such periods. Not all projects will recover, and not all bearish sentiments are unwarranted. Distinguishing between legitimate concerns and baseless FUD is crucial for making informed investment decisions.

Finally, while the unpredictability of cryptocurrency markets can be unnerving, its important to remember that opportunities often arise when fear and doubt are prevalent. Patient traders who can weather the storm, identify undervalued assets, and separate genuine concerns from FUD may find themselves well-positioned to capitalize on market rebounds. As always, risk management and due diligence remain key to navigating the volatile crypto landscape successfully.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.

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Navigating Cryptocurrency Volatility: Finding Opportunity Amidst ... - The VR Soldier

WASHINGTONUnited States Senator Bill Hagerty (R-TN), a member of the Senate Banking and Foreign Relations Committees and Former U.S. Ambassador to Japan, today joined The Big Money Show on Fox Business to discuss the upcoming G20 Summit and the Securities and Exchange Commission (SEC)s overregulation creating uncertainty in the cryptocurrency and blockchain industries.

Partial Transcript

Hagerty on the upcoming G20 Summit: I think we have a real opportunity here, and I can speak from some experience, Lydia. Back in 2019, when the G20 was held in Osaka, I was serving as the United States Ambassador to Japan. [I] actually took the Presidents seat for one of the four rounds because he was meeting with Xi Jinping at that time. What our G20 allies would be looking for is American leadership. [President] Joe Biden has that opportunity to deliver that, but it needs to be American leadership that encourages more investment between our nations, more trade, more national security opportunities that we can pursue. We need to be encouraging our NATO allies to step up to their defense commitments. What Im worried about is something along the lines of what happened when we saw the Three Amigos conference take place down in Mexico when Joe Biden met with our [United States-Mexico-Canada Agreement] partners from Mexico and Canada, [PresidentAndrs Manuel Lpez Obrador] AMLO and [Prime Minister Justin]Trudeau. Instead of taking advantage of the great economic opportunity, the major points that came out of that were on DEI [Diversity, Equity, and Inclusion] and climate, and if thats what happens, the biggest winners from the G20 will be those that are not there: Xi Jinping and Vladimir Putin.

Hagerty on the SEC pushing cryptocurrency offshore: Theyre using the [Federal Deposit Insurance Corporation] and the Federal Reserve supervisors to essentially execute Operation Choke Point 2.0. This time, the targeted industry is the cryptocurrency industry. Theyre creating all types of uncertainty. You know, [SEC Chair Gary] Gensler is using the opportunity to enforce via litigation, to regulate via enforcement, and this is creating tremendous uncertainty. What theyre going to do, and this may be their aim, is to push all of the innovation associated with cryptocurrency and the blockchain offshore. Theyre paving the way for a Central Bank Digital Currency, and you have to look no further than Communist China to see what theyre doing with the digital Yuan. To see the danger in this: Communist China can use the digital Yuan to determine what you can buy [and] what you cant buy, where your currency is good, where you cant spend it, where you can, and theyre pushing that out on an international basis right now. We need to be very concerned about these developments.

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ICYMIHagerty Joins The Big Money Show on Fox Business to ... - Senator Bill Hagerty