The following report is by The Trends Journal:
Cryptocurrency regulations among various countries should be “harmonized…so that gaps don’t occur that are missed by regulators,” Elizabeth McCaul, a member of the European Central Bank’s supervisory board, said in 28 November remarks at the Financial Times Crypto and Digital Assets Summit.
The spectacular collapse of the FTX crypto trading exchange has been “quite a wake-up call” and shows that regulators need to be talking together, she added.
The European Union’s forthcoming suite of crypto regulations would have moderated the worst effects of FTX’s implosion but would not have prevented it, she noted.
“I’ve lived through many crises and one theme always comes up,” she said – “gaps in frameworks and oversight.”
In the U.S., Wyoming senator Cynthia Lummis has called for greater regulation of the sector and has cited FTX’s demise as a prod to Congress to move on the idea that exchanges and other platforms that manage clients’ assets need stricter oversight.
TRENDPOST: In October, a council of the European Union approved the Markets in Crypto-Assets Regulation. It establishes consumer protections, accountability by crypto firms, and addresses ancillary issues such as money laundering and environmental impact.
Almost a year earlier, in November 2021, the U.S. Congress included some crypto regulation in its Infrastructure and Jobs Act.
The act defines crypto as a “digital asset” and any person or entity that “transfers digital assets on behalf of another person” as a “broker,” subject to the same legal standards as broker handling stocks or mutual funds for clients.
TREND FORECAST: Individual countries are feeling their way toward regulating the blockchain world, which will result in a hodgepodge of rules, some of which are likely to contradict or conflict with others.
Governments will attempt to coordinate regulations globally but that effort will not be a priority; too many other crises already are at hand.
Instead, coordination will move in fits and starts, not being elevated to any kind of priority until crypto becomes a much larger player in the global economy than it is after FTX’s epic collapse.
AUTHOR COMMENTARY
I disagree here slightly with The TJ’s assessment. I think this regulation is much-much coordinated than the central banks are willing to let on at the moment, but is very much a massive and top priority for them. I suspect they already have most of their incoming central bank digital currencies (CBDCs) already designed and functional, or very close to completion; as it’s all about the proper timing to implement such regulated currencies, in tandem with social credit and digital IDs.
This FTX collapse is classic Problem. Reaction. Solution. The whole thing was clearly a Ponzi scheme from its inception, as are most other cryptos. Now that so many people lost billions and billions of dollars in assets, now the people are calling for some kind of regulation and safe net so this does not happen again. This is precisely want central banks want and need – they NEED the people to want to corralled. Therefore, I believe more crypto rug pull fallouts still need to happen, thereby accelerating the public’s blowback.
Deceit is in the heart of them that imagine evil: but to the counsellers of peace is joy.
Proverbs 12:20
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
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the beast system is coming at warp speed, buckle up buttercup it’s going to get really bumpy.
I’m buckling up, buttercup, breakneck speed is no laughing matter.
So far so good, I started a fast for the first time as of yesterday because I need answers to prayers, Cary.
I also want to be caught up along with the, oh I don’t know, over 3.5 billion out of 7.6 billion on earth.
I think your numbers are high for those of us who are saved, narrow is the way and few that finds it.
The whole FTX thing was a set-up and a wealth transfer before the ‘new’ system rescue comes into play further setting the stage for Revelation 13, & part of the pretext for the wars leading up to it.
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Joh 10:10-42 of 42 KJB The thief cometh not, but for to steal, and to kill, and to destroy: I am come that they might have life, and that they might have it more abundantly.
Joh 10:11 I am the good shepherd: the good shepherd giveth his life for the sheep.
Joh 10:12 But he that is an hireling, and not the shepherd, whose own the sheep are not, seeth the wolf coming, and leaveth the sheep, and fleeth: and the wolf catcheth them, and scattereth the sheep.
Joh 10:13 The hireling fleeth, because he is an hireling, and careth not for the sheep.
Joh 10:14 I am the good shepherd, and know my sheep, and am known of mine.
Joh 10:15 As the Father knoweth me, even so know I the Father: and I lay down my life for the sheep.
Joh 10:16 And other sheep I have, which are not of this fold: them also I must bring, and they shall hear my voice; and there shall be one fold, and one shepherd.
Joh 10:17 Therefore doth my Father love me, because I lay down my life, that I might take it again.
Joh 10:18 No man taketh it from me, but I lay it down of myself. I have power to lay it down, and I have power to take it again. This commandment have I received of my Father.
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Joh 10:19 ¶ There was a division therefore again among the Jews for these sayings.
Joh 10:20 And many of them said, He hath a devil, and is mad; why hear ye him?
Joh 10:21 Others said, These are not the words of him that hath a devil. Can a devil open the eyes of the blind?
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Joh 10:22 ¶ And it was at Jerusalem the feast of the dedication, and it was winter.
Joh 10:23 And Jesus walked in the temple in Solomon’s porch.
Joh 10:24 Then came the Jews round about him, and said unto him, How long dost thou make us to doubt? If thou be the Christ, tell us plainly.
Joh 10:25 Jesus answered them, I told you, and ye believed not: the works that I do in my Father’s name, they bear witness of me.
Joh 10:26 But ye believe not, because ye are not of my sheep, as I said unto you.
Joh 10:27 My sheep hear my voice, and I know them, and they follow me:
Joh 10:28 And I give unto them eternal life; and they shall never perish, neither shall any man pluck them out of my hand.
Joh 10:29 My Father, which gave them me, is greater than all; and no man is able to pluck them out of my Father’s hand.
Joh 10:30 I and my Father are one.
Joh 10:31 Then the Jews took up stones again to stone him.
Joh 10:32 Jesus answered them, Many good works have I shewed you from my Father; for which of those works do ye stone me?
Joh 10:33 The Jews answered him, saying, For a good work we stone thee not; but for blasphemy; and because that thou, being a man, makest thyself God.
Joh 10:34 Jesus answered them, Is it not written in your law, I said, Ye are gods?
Joh 10:35 If he called them gods, unto whom the word of God came, and the scripture cannot be broken;
Joh 10:36 Say ye of him, whom the Father hath sanctified, and sent into the world, Thou blasphemest; because I said, I am the Son of God?
Joh 10:37 If I do not the works of my Father, believe me not.
Joh 10:38 But if I do, though ye believe not me, believe the works: that ye may know, and believe, that the Father is in me, and I in him.
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Joh 10:39 ¶ Therefore they sought again to take him: but he escaped out of their hand,
Joh 10:40 And went away again beyond Jordan into the place where John at first baptized; and there he abode.
Joh 10:41 And many resorted unto him, and said, John did no miracle: but all things that John spake of this man were true.
Joh 10:42 And many believed on him there.
Of course we know the BEAST system is coming. That is a given. I believe, (my opinion), that this
“FTX” business, was purposefully done to accelerate the push towards a single, regulated, digital currency. The “1 World Religion” ~ (green / carbon neutral, climate scheme), is the excuse to accelerate that. Both are coming quickly to accelerate the institution of these global systems in anticipation of the arrival of ANTICHRIST. Much going on Brothers & Sisters. Stay alert !
“I’ve lived through many crises and one theme always comes up,” she said – “gaps in frameworks and oversight.” – this is the new world order theme – they are building a massive monopoly to control everything – so everything is being centralized into this one gigantic corporation that will hold the monopoly system and will control everything. We must fight for decentralization in everything.