While in the United States the cryptocurrency sector is inactive being treated by the fresh administration with further privileges, The European Commission is doing everything it can to strangle him.
One of the favourite means for Eurocrats to gain always more power over the continent is to usage the tiny step method. Even the top usurpation of power by the emerging EU superstate gains completely different social reception if it is spread over many years.
Without anonymity
The latest installment of this kind of usurpation is undoubtedly the government on which Brussels is presently working and which provides that on 1 July 2027 an anonymous operation related to digital assets and the usage of alleged private coins is to be banned. Private coins are cryptocurrency values which, utilizing advanced cryptographic techniques, let to conceal the identity of both parties to the virtual transaction and the amount of the transaction itself. The popularity of private coins has late increased mainly due to expanding instances of restrictions on freedom to usage crypto-activisms in many countries of the world. The current global value of this section is valued at up to $5.5 billion.
The authoritative justification for imposing specified restrictions is the desire to fight taxation crime or the fight against criminal groups. However, it is hard to believe in the provision of Eurocrats because, as the countless scandals have shown, including Panama Papers, many of the most crucial politicians, financiers or businessmen in the European Union have regularly utilized taxation havens and have been doing absolutely nothing to limit their usage for years. The core of the actions taken by Brussels is the desire to harm average citizens who have been trying to save their assets with investments in the cryptocurrency marketplace in fresh years.
According to the rules prepared by the European Commission, cryptocurrency service providers, specified as stock exchanges or another financial institutions, will gotta collect all data on their customers. The fresh regulation package follows closely the way previously set by the alleged MiCA regulation, which entered into force on 30 December last year. Under its power, entities operating in the cryptocurrency marketplace must comply with more licensing, reporting and financial requirements than so far.
Digital euro is getting closer
Of course, the desire to organise a dynamically developing section of the financial marketplace is absolutely understandable, especially since many fraudsters operate on it, and a crucial proportion of users do not have adequate experience to manage assets subject to specified drastic exchange rates. However, the European Union's intentions from the very beginning are not pure, as they are behind them a task of full control of society.
The head of the European Central Bank, Christine Lagarde, late announced that the preparation phase of the digital euro task (i.e. the digital currency of the central bank – CBDC) would end in October this year. Tenders are presently underway to choice the IT infrastructure providers of the system, and shortly the European Parliament is expected to adopt appropriate laws providing the legal framework for the fresh means of payment.
In another words, utilizing the discretion of mainstream media, the EU establishment consistently implements its programme of full financial control of citizens, constantly denying that it has the characteristics attributed to it. According to the assurances made by the heads of the ECB and the European Commission, the euro digital is to be voluntary, but in the language utilized in Brussels, voluntary means mostly the same as coercion. The Eurocrats have demonstrated in fresh years that they are able to force associate States to push their solutions through a very comprehensive instrument: starting with the case law of the EU Courts through blackmail involving the collection or suspension of funds due, and ending with direct interference in elections in the associate States.
Regulations related to the gradual simplification of the function of cryptocurrency should be viewed as a kind of clearing of prefields for the digital euro. Brussels wants to discourage as much as possible investments in the cryptic marketplace in order to let as smoothly as possible the launch of its totalitarian currency. It may be released in a fewer years at the earliest, but this time will most likely be utilized to further restrain the digital asset sector with any possible regulation.
Trump releases from CBDC
This approach contrasts powerfully with the situation overseas. Already in the first days after his swearing in, Donald Trump completely halted any work related to the possible launch of the digital dollar, making it clear that this kind of proposal is incompatible with fundamental civilian liberties. The American president had already signed a regulation establishing the strategical Reserve of Bitcoin and the Digital Assets Magazine in early March. This reserve is intended to include bitcoins and another cryptocurrency repossessed by the State in criminal or civilian proceedings. The strategical Reserve will initially be only $17 billion, but for the full cryptoenthusian community, this step was a historical expression of appreciation for the value of crypto-activists.
At the time of Joe Biden's presidency, many cryptocurrency-related companies were the subject of regulatory and even law enforcement investigations. Trump ordered them to halt and even set up a peculiar commission to make changes to facilitate the trading of cryptocurrency.
Trump's policy is, of course, part of a strategy to win voters' vote. The United States is simply a global cryptocurrency capital in which 40% of adults have cryptographic assets. However, it is not hard to underestimate the American president for courageously canceling work on the American CBDC.
In the European Union, the average interest in cryptocurrency is 2 or even 3 times lower than in the US, which means that the EU establishment does not gotta deal with their enthusiasts to the same extent. In fresh times, however, the European establishment has taken on specified a sinister face that it does not even seem to number as a majority of citizens, which shows, at least, that the presidential elections of opposition candidates in France or Romania are prevented.
Swiss gap in the system
Some of the smaller cryptocurrency players have already announced their intention to leave Europe, which, with its excessive regulation, discourages investment. The largest stock exchanges cannot, of course, let go of specified a large market, but by all means the full manufacture will grow more dynamically distant from the Old Continent.
One exception is Switzerland, which, surrounded by the EU superstate from all sides, seeks to conduct an independent policy. In fresh years, the canton of Zug has grown a kind of ‘silicon cryptodolin’, which includes any of the world's most dynamically developing entrants. Switzerland did not gotta execute miracles to attract investors from all over the world. It was adequate that it did not interfere with the improvement of the manufacture as much as Eurocrats.
The issue of a different approach to cryptocurrency in the European Union and Switzerland is not isolated at all, but focuses nothing on the essence of Brussels' policy. The EU's establishment wants more control in almost all area of life, and in carrying out these efforts, it contributes to the continuing economical death of the full Community.
