Crypto CRACKDOWN?! What The G20 Is Planning Will SHOCK You!

G20 countries are about to crack down on Crypto this was revealed in a recent Crypto regulation roadmap released by India which currently holds the Presidency of the G20 India promised it Would focus on crypto when it assumed The presidency late last year and it Could have an impact before its term is Up in the autumn today we're going to Bring you up to speed on the g20's History with crypto summarize India's Recent roadmap and tell you exactly what It could all mean for the crypto Market On its website the group of 20 or G20 Describes itself as quote the premier Forum for international economic Cooperation put differently it's another Unaccountable and unelected International organization that Influences our daily lives just like the World economic Forum or west Now the difference is that the weft Focuses primarily on the private sector Whereas the G20 focuses primarily on the Public sector naturally the G20 consists Of 19 of the world's largest countries Plus the EU blog its website also notes That its members represent 85 percent of Global GDP and two-thirds of the world's Population Like many other such organizations the G20 was created after the Asian Financial crisis of 1999 by the finance Ministers of Canada and the United

States the difference is that the G20 Was created by the G7 a more exclusive Club of powerful countries created by The US in the early 1970s in response to The oil crisis now what's interesting is That the G20 initially consisted of just The finance ministers and Central Bank Governors from each of its member Countries lo and behold this changed After the 2008 financial crisis since That time the G20 has been quote Elevated to include the heads of state Of all member countries if you're Wondering why you don't hear about the G20 more often that's because all its Annual meetings take place behind closed Doors as explained by former Canadian Prime Minister Paul Martin who Co-founded the G20 while he was Finance Minister this is the only way they can Have honest discussions privacy for me Not for thee anyways unlike most other Unaccountable and unelected International organizations the G20 Isn't run by a group of powerful people In permanent positions per se Rather the presidency of the G20 is Predetermined with a new country getting A turn each year logically each Presidency lasts one year Obviously passing on the Hot Potato of The G20 presidency is easier said than Done which is why the presidency is Supported by the Troika now the Troika

Consists of countries from the previous Presidency the current presidency and The next presidency They therefore help each other ensure a Smooth transition this is important to Point out because the Troika can have a Profound effect on the policies that G20 Presidencies try to implement for Example if the three countries that are Part of the Troika disagree on a Particular policy then chances are it'll Face significant hurdles to Implementation now this ties in to the G20's attitudes towards crypto not Surprisingly each G20 country has its Own opinions about different topics and Crypto is no exception consider that There was apparently no hostility Towards the crypto industry in 2017 when Germany held the G20 presidency that's Not surprising considering that Germany Is considered to be crypto friendly Compared with many of its peers any Crypto you hoddled there for example for More than a year can be sold at tax-free And German Pension funds were famously Permitted to start holding crypto back In 2021 not surprised amazingly however The G20 became hostile towards the Crypto industry in 2018. that's because Argentina assumed the presidency that Year Although Argentina citizens are Generally pro-crypto its government is

Not this is presumably due to the Influence of U.S Affiliated Organizations like the IMF more about That in the description I digress of Course 2018 was also when crypto entered Its previous bear Market which likely Contributed to the g20's hostility Towards the industry funnily enough the Crypto-related announcements from the G20 from back then sound eerily similar To the ones today Global Taxes Global Regulation Etc you'll understand why This time could be different in just a Moment now in 2019 the g20's hostility Towards the crypto industry suddenly Disappeared once again that might have Something to do with the fact that Japan Held the presidency that year and Japan Is generally very pro-crypto The Only Exception was the g20's Concerns about stable coins which were Raised later that year this is no Coincidence considering that Facebook Had announced the launch of its Libra Currency just a few months previously if You've watched any of our videos about Crypto regulation you'll know that Government started taking crypto Seriously when Libra was announced Libra died last January the developers Who worked on Libra have since launched Their own crypto projects Aptos and Suri And you can learn more about those in The description moving on

Now in 2020 the g20s neutral starts on Crypto continued under Saudi Arabia's Presidency this was somewhat surprising Considering that Saudi has been hostile To crypto in the past that said the Saudi Central Bank is reportedly Exploring crypto legalization and Binance already has boots on the ground There Italy's G20 presidency in 2021 likewise Continued the organization's neutral Stance towards crypto this changed in 2022 however when Indonesia took over The presidency if you want to get a Sense of just how anti-crypto Indonesia Was its Central Bank actually said that Central Bank digital currencies or cbdcs Are tools to fight Bitcoin Now to be fair Indonesia has since Pulled a 180 on crypto so much so that The country recently launched its own National crypto Exchange Unfortunately the same can't be said for India which assumed the G20 presidency This year and has carried Indonesia's Past anti-crypto stance to the present Now if you watched our recent video About the global crypto regulations that Are coming you'll know that India has Played a key role in pushing them as Part of its G20 presidency what you may Not know is that India specifically Stated that it would focus on creating Global crypto regulations when it

Assumed its post This begs the question of why India put Crypto as a focus for its presidency From our perspective the answer seems to Be because of geopolitical reasons it Appears that the U.S and India have been Trying to strengthen their ties recently Given that the U.S is arguably Anti-crypto India might be trying to Appease its powerful Ally when Researching this video however we found Another possible answer according to Business today a major Indian media Organization one of the three objectives Of the G20 is to quote create a new International Financial architecture Newsflash crypto is likely seen as a Threat to this objective while Governments didn't mind having crypto Around when it was small and only used By a few million people they do mind now That crypto is bigger and is used by Hundreds of millions at the same time Their National currencies are collapsing And they're rushing to roll out their New Financial architecture G20 countries are doing this with the Help of other unaccountable and Unelected international organizations Namely the bank for international Settlements or bis the bank for central Banks if you've watched any of our Videos about the bis you'll know they Want to create a global cbdc system as

It so happens the bis is one of the four Unaccountable and unelected International organizations that have Been closely advising the G20 about Crypto and cbdcs The other three are the financial Stability board or FSB the international Monetary fund or IMF and the financial Action task force or fat f If you watched our aforementioned video About the incoming Global crypto Regulations you'll know that they were Written by the FSB you'll also know that The FSB States on its website that these Recommendations will inevitably be Implemented in every G20 country so much For democracy now if you've watched any Of our videos about the IMF you'll know That it issues loans to developing Countries that come with conditions Which effectively Force those countries To align with the United States and its Allies you'll also know that a recent Loan it gave to Argentina came with a Condition to discourage crypto adoption Now the catch is that neither of these Unaccountable and unelected International organizations have the Power to force G20 countries to comply The fsb's recommendations are in fact Voluntary and the imf's conditions are Only a problem if you're a developing Country that's desperately in need of a Loan however there is one exception and

That's the fat f You'll recall that the G20 was extremely Anti-crypto under the Argentinian Presidency in 2018. coindesk published An amazing article that year titled Quote a G20 crypto policy let's hope It's a pipe dream link will be in the Description if you're interested now in The article the author Mark hochstein Explains that the fat f is the only International organization that the G20 Works with that quote has teeth and if You've watched any of our videos about The fat F you'll know that these teeth Exist to essentially cut countries out Of the Global Financial system when they Refuse to comply Mark went on to predict that the fat F Would eventually start gnashing its Teeth for crypto related reasons well Over the last four months Pakistan and Kuwait have reportedly banned crypto Because of the fat f The UAE was also put on the fat F's gray List early last year possibly in part Because of its pro-crypto stance it Seems the g20s crypto Crackdown has Finally started and India's recent Roadmap tells us what's next So the roadmap in question is titled Quote presidency note as an input for a Road map on establishing a global Framework for crypto assets We'll leave a link to the full document

In the description and we suggest you Start by reading the annex that's Because it explains exactly how we got To this point now the annex reveals that The fsb's global crypto regulation Recommendations were published in October 2020 and initially focused Around stable coins You'll recall that this is because G20 Countries were concerned about Facebook's Libra specifically about the Possibility that it could compete with Their domestic fear Libra was supposed To be a stable coin by the way now the Annex also confirms that the G20 held a Neutral stance towards crypto during the Italian presidency in 2021 that's Because all the Italians asked was for These other International organizations To double check and see if the FSB Hadn't missed anything in their crypto Regulation recommendations the NX Confirms that the FSB expanded its scope Of crypto regulations under the Indonesian presidency it reveals that The FSB has been working with other Unaccountable and unelected International organizations to gather Data the bis's recent stablecoin Monitoring project comes to mind and the Annex also lists other International Organizations that have been involved in Setting crypto standards One of these is the organization for

Economic cooperation and development or Oecd which recently put together Global Crypto tax rules more about those in the Description now what's fascinating is That the NX also references the crypto Regulations already being introduced in G20 economies namely the EU Japan and The UK This is fascinating because these Countries were probably supposed to wait Until the fsb's finalized Recommendations had been released before Going ahead and this underscores Something we've mentioned in many Previous videos and that's that not all Countries will be entirely on board with These Global crypto regulations Whether the fataf's teeth will be Gnashed enough to keep them in line Remains to be seen especially since These countries are close allies of the United States anyway speculation aside The road map itself starts by Highlighting the fact that G20 countries Have been working on rolling out Global Crypto regulations for years the authors Specify that this document is intended To inform the upcoming paper that will Be published by the FSB and IMF the Final document the authors reveal that The fat F recently agreed on a roadmap To ensure that its so-called Recommendations are implemented in every Country on the planet now the roadmap

Isn't public but what is public is the Date it was finalized February 2023 Shortly before the Pakistan and Kuwait Crypto restrictions the fat F's Announcement about the compliance Roadmap also specifies that quote in the First half of 2020 4 the fat F will Report on steps fat F members and fsrb Countries with materially important Virtual asset activity have taken to Regulate and supervise virtual asset Service providers take note Now the authors go on to lament the fact That there's been a lack of quote Consistent implementation of regulations And guidance around the world some would Say this is a not so subtle reference to The bigger G20 economies that have Decided to go their own way namely the EU and the UK The authors subsequently reference the Fat F and one that they quote may Require greater Global collaboration to Prevent policy Arbitrage some would say This is a not so subtle warning to any G20 countries that attempt to go their Own way but perhaps we're reading too Much into it but back to that INF FSB Paper the authors reveal that it will be Published later this month and they note That the roadmap contained within this Paper will be adopted by G20 countries And recall that this document is Supposed to inform the roadmap

There are three areas the roadmap will Focus on the first is safeguarding quote Nations macroeconomic and financial Stability the second is quote providing Appropriate investor education and Protection The third is facilitating quote the Development of the underlying technology And encouraging innovation in the Financial sector Translation ban anything that can Interfere with monetary or fiscal policy Indoctrinate citizens into believing That crypto is bad and build centralized Blockchains that can be used as tools For financial control not crypto now the Good news is that the roadmap for doing This will apparently be quote flexible The bad news is that the IMF FSB and the Fat F will ensure that there are quote No gaps Anyhow the authors then detail a few Quote action points the IMF and FSB Should include in their upcoming paper The first is to ensure the Implementation of the fsb's global Crypto regulations This will be done with the help of other Unnamed International organizations most Likely the fat f The second is to create a more detailed Crypto framework that can be adopted by Developing countries this will be done By the IMF which makes sense when you

Remember that it ensures compliance with These rules by including them as Conditions to the loans IT issues to Developing countries The third is to spread the word about Global crypto regulations to every Single country quote starting first with The jurisdictions which have seen higher Adoption of crypto assets and where Internationally active crypto exchanges And large stablecoin issuers are located This is circumstantial evidence to Support the idea that the UAE was Partially targeted by the fat F because Of its crypto adoption and it Foreshadows significant scrutiny of Other pro-crypto regions It's safe to say that the countries that Are home to tether and binance are going To get a loud knock on the door now the Fourth action point is to monitor the Financial stability risks posed by Crypto something that will be done by The FSB well it's in the name after all Financial stability board the IMF will Help as well and this relates to the Fifth action point which is for all International organizations to work Together on crypto the sixth action Point is specific to the fat EV and That's to quote promote greater coverage And effective implementation of Anti-money laundering and combating the Financing of terrorism the authors add

That this should be done following a Quote risk-based approach for context The crypto regulations being proposed by These organizations operate under the Rule or rather the assumption that Crypto poses the same risks as the Existing Financial system and therefore Requires the same regulations applying This framework means turning crypto into Another arm of Trad fire and the final Action point is to help regulators and Institutions Implement these kinds of Crypto regulations at the national level This will be done by all the International organizations which makes Sense considering that they've all been Influencing our national policies a Great deal in recent years without our Input of course so this brings us to the Big question and that's what all of this Means for the crypto Market the answer Ultimately depends on three factors the Upcoming G20 presidencies how quickly These International organizations can Coordinate these Global crypto Regulations and whether all G20 Countries will adopt them By now you'll note that G20 presidencies Can have a profound effect on the Policies being pushed by the Organization you'll also know that India Currently holds the G20 presidency what You may not know is that Brazil is next In line followed by South Africa this

Means next year's Troika will be Significant For reference next year's Troika will Consist of India Brazil and South Africa So quiz time what do these countries Have in common Anyone That's right they're all part of the Bricks an unofficial International Organization that's analogous to the G20 And consists of Brazil Russia India China and South Africa this is Significant because brics countries are Reportedly in the process of trying to De-dollarize perhaps with the exception Of India to that end brics countries Have proposed everything from creating a Unified digital currency to a joint Currency that will be backed by Commodities such as gold not only that But some brics countries namely Russia Are considering using crypto for trade And others namely Brazil are extremely Pro-crypto what this means is that There's a high likelihood that the G20 Sentiment towards crypto will change From negative to positive starting next Year when Brazil takes charge and this Positive sentiment should continue under The South African presidency in 2025. This will likely be bullish for the Crypto Market There's just one big caveat however and That's

2026. according to a recent joint Statement by the U.S and Indian Governments the U.S will assume the G20 Presidency in 2026 not sure if you folks Have noticed but almost all these Unaccountable and unelected International organizations are closely Affiliated with the US and exist to Spread U.S interests chances are that The US will still be anti-crypto come 2026 and this is basically guaranteed if The current Administration stays in Power this means that the crypto Industry could see renewed scrutiny in 2026 which happens to coincide with when The next crypto bear Market is generally Expected to begin Under a U.S G20 presidency unaccountable And unelected organizations would likely Double down on their anti-crypto Activities and coordination which have Been admittedly slow until now again This is almost certainly due to the Different opinions that recent G20 Presidencies have had about crypto what This process has shown is that not all G20 countries are on board with the Global crypto regulations that have been Proposed by these U.S Affiliated International organizations as other International organizations and bodies Such as the brics continue to grow the Influence of the G20 and others will Continue to diminish as such the

Long-term future of crypto could Fundamentally depend on the attitudes That these entities have towards it now It's too soon to say for sure what these Attitudes are but it's clear that the Rest of 2023 is going to be rough for Crypto 2024 and 2025 will be smoother sailing And 2026 will be brutal but then well Folks you already knew that didn't you It's part of crypto's four-year cycle After all And that's all for today's video if you Found it interesting smash that like Button to let me know if you want to Make sure you keep getting interesting Videos subscribe to the channel and ping That notification Bell if you want to Help others find interesting videos Share this one with your friends and Family If you're huddling come hell or high Water make sure that you're stacking Sets in a safe place and not losing Unnecessary future gains on expensive Exchanges the coin Bureau deals page Happens to have huge discounts on Hardware wallets and up to forty Thousand dollars of bonuses for select Exchanges you can find that down in the Description thank you all for watching And I'll see you next time this is guy Over and out [Music]