Below is a direct excerpt from the Marty’s Bent issue ,1229: “A new FATF report drops at the end of the month., Sign up for the newsletter here,
Our favorite unelected supranational organization is back with a warning shot. Four days ago, the Financial Action Task Force (FATF) released meeting notes from the most recent congregation of faceless demons, who think they have the power to decide how billions of humans conduct commerce between each other in the digital age. How can. As you can see from the snippet above, it looks like the FATF will release a new report to update the world on the status of compliance with its arbitrary rules. Making a point to highlight those not moving at an acceptable pace to enforce stricter monitoring requirements on any business that touches bitcoin.
Even worse, the concept of “unhosted wallets” is still top of mind and the report will provide “a brief update on emerging risks and market developments that the FATF continues to monitor.” Said another way, they are confusing the concept of individuals creating and controlling their private keys. The non-elected overlords don’t really like the idea that the common man controls his money, the nanny being able to see everything he’s doing without the state.
I think this “brief update” would set the stage for a completely narrative attack on the ownership of private keys by individuals. They would probably say that individuals holding their own keys present a greater risk of criminal activity that may prove too high to allow the practice in the first place. Then they will likely recommend that regulation be created that prohibits individuals from interacting with bitcoin outside the scope of a regulated “virtual asset service provider” who sends what is and is not available at any given time. Keeps a close eye on this. If this narrative arises, it should be met with a high degree of derision and contempt.
This issue is a non starter. Individuals have the right to protect their personal property as they see fit and should never be subjected to autocratic surveillance from the state, which has committed more tyranny and human rights violations than any group of individuals. These people should not be given power over the money of freedom in the digital age. It belongs to the persons who use it.
Make no mistake, the narrative battle is about to escalate significantly as governments and central banks as a whole lose control of their monetary systems and, by extension, their subjects. Arrows will be fired from all angles. In fact, they already are, as evidenced by recent comments by the Jabba-the-hutt-looking demon head of the Bank of International Settlements.
Prepare yourself, devil. Things are about to get spicy.