WEF’s Plan For CRYPTO!! Here’s The Regulations They Want!!

The world economic Forum or weth is Infamous for having an uncanny amount of Influence over companies and countries Around the world This influence extends to the crypto Industry and crypto regulations that's Why the wefts recent crypto regulation White paper is so significant it will Influence the crypto regulations being Proposed around the world and this could Make or break the crypto Market So today I'm going to summarize this White paper and tell you how it could Affect crypto if implemented this is a Video you need to watch until the end The weft white paper I'll be summarizing Today is titled quote Pathways to the Regulation of crypto assets a global Approach It was published by the weft late last Month and I'll leave a link to the full Document in the description if you're Interested and I strongly suggest having A read if you have the time Now the white paper begins with a brief Preface by a member of the wefts center For the fourth Industrial Revolution for Context the fourth Industrial Revolution Is an idea dreamed up by weff founder And chairman Ernst stavra blofeld I mean Klaus Schwab it basically involves Replacing all of us peasants with AI and Automation and another component of the Fourth Industrial Revolution is

Controlling the population with Technology this is probably why the Preface asks how governments can control A technology that is borderless open Source and decentralized naturally the Only solution is a global coordinated Approach to regulation the author of the Preface reveals that the weft has been Engaging in quote multi-stakeholder Consultations to understand how to roll Out Global crypto regulations Now for reference stakeholders is a term Used by the weft to describe powerful Individuals and institutions not Commoners like you and me in this case The author of the preface specifies that The white paper was put together with Quote significant contributions from Members of the digital currency Governance Consortium or dcgc For those unfamiliar the dcgc was formed In January 2020 and it includes multiple Crypto companies funnily enough the full List of dcgc members is apparently Private but we've put together a partial List as a consequence of our coverage of The weft Ripple ethereum company Consensus and usdc issuer circle are all Part of the dcgc as are dozens of Prolific Personalities in the crypto Industry The wefts website notes that the dcgc is Currently in phase two of its master Plan which involves assessing the

Economic effects of crypto stable coins And Central Bank digital currencies or Cbdcs the dcgc has published five Reports so far and we summarized the Most important one back in November 2021. the link to that video will be in The description Now the next section of the white paper Provides a brief summary of the key Takeaways here the authors argue that Global crypto regulations are not only Desirable but quote necessary they seem To suggest that this is because of the Increasing connections between crypto And traditional Finance The authors explain that there are many Things standing in the way of global Crypto regulations including a lack of Universally accepted definitions for Different types of cryptos a lack of Coordination between Regulatory Agencies And Regulatory Arbitrage aka some Countries are being too pro-crypto The authors point out that many other Unaccountable and unelected International organizations have been Working on global crypto regulations if You've been keeping up with the channel You'll know this includes the financial Stability board or FSB and the financial Action task force or fat f The authors admit that the weft has been In contact with these organizations but Insist that Academia civil society and

Crypto users will also have a say in Global crypto regulations of course the Authors don't put a timeline on when we Will have a say in this matter so far we Haven't had a say in anything Now the first part of the white paper is About why Global crypto regulations are Required the authors start by explaining What crypto assets are and include Stable coins under the definition of Crypto asset note that these reports Seldom refer to cryptos as currencies They believe cryptos are not currencies That said the authors do acknowledge That cryptos have some Financial use Cases They say that this is why regulatory Scrutiny around crypto has increased as You might have guessed they refer to the Crash of Terror last May and the crash Of FTX last November as examples of why Regulatory scrutiny is Justified The authors then go on to explain that Different jurisdictions have since Introduced different crypto regulations They claim that this increases the risk To the Global Financial system and Creates benefits for Bad actors in The Crypto industry they also highlight the Inconsistency in crypto definitions The authors then suggest that smart Contracts could be one way of ensuring Regulatory Compliance this is not Surprising considering that the weft is

A huge fan of programmability in Payments again the weft and its Affiliates ultimately want to control What people do programmable payments are One way to do just that When it comes to regulating Cryptocurrencies the authors say the First step is to identify where the Crypto activity is taking place if Possible the second step is to identify Who is engaging in the crypto activity And the authors say that privacy coins Personal wallets and D5 protocols make This difficult now this is terrifying Because it presumably implies that Personal wallets will be a target of Global crypto regulations this isn't Without precedent either if you've Watched any of our videos about the fat F you'll know that its endgame is to Eliminate all non-intermediated Activities in crypto no personal wallets In other words Now to be fair the authors of this white Paper don't seem to be that opposed to Personal wallets that's because they Know that if you buy your crypto through An exchange with kyc then it's easy to Identify which wallet belongs to who With the help of blockchain analytics Companies like J analysis and you can Learn more about how blockchain Analytics companies track crypto Transactions using the link in the

Description I digress Now according to the authors the third Step to regulating crypto is to identify Who is responsible in any given crypto Activity they admit that this is Sometimes difficult to do particularly When you're dealing with decentralized Protocols they note that this will Become easier if Dows become regulated Entities Then in the next section the authors dig Deeper into the connections between Crypto and traditional Finance they Start by saying that the crypto markets Correlation to btc's price is a sign of Maturity now this is arguably incorrect A decoupling between different crypto Categories would be a sign of maturity What the authors do get right however is That institutional interest in crypto Has been on the rise they proceed to Cite a series of Statistics from Pro-crypto sources which should be taken With a grain of salt Real institutional interest and Investment won't come until crypto Regulations are introduced everywhere The authors also note that retail Interest in crypto is on the rise and Seem to imply that this could cause Problems for financial stability this Could explain why some countries such as Canada that are closely aligned with the Weft have started introducing

Restrictions on retail investors in Crypto now besides contagion risks the Authors also underscore concentration Risks as another area of concern and Rightfully so the crypto Market is Reliant on a handful of stable coins a Handful of exchanges and even a handful Of cryptos Oddly enough the authors claim that Layer twos on ethereum lower this Concentration risk this is odd because Many layer twos are still reliant on Ethereum for their security which Logically increases concentration risk Never mind that many of these layer twos Are extremely centralized and backed by The same investors Now the second part of the white paper Is about the challenges to Global crypto Regulation the authors start by Reiterating that the absence of Universally accepted crypto definitions Is the biggest problem They propose a potential taxonomy but Admit that there are exceptions to every Crypto definition they then explain that This is a problem because it makes it Impossible for there to be consensus About specific crypto regulations it Increases the cost of crypto compliance Around the world and it makes it Difficult to protect consumers all I can Think of when I hear that phrase is SEC Chairman Gary Gensler

Anyway according to the authors the Second Challenge to Global crypto Regulation is regulatory Arbitrage They seem to take issue with the fact That crypto developers have the ability To move wherever they want I imagine the Weft would want nothing more than to Control the movement of people say did You know that the weft is trying to turn Almost every major city into a smart City more about that in the description Anyways the authors admit that it might Still be too soon to push for Global Crypto regulations that's because most Governments are still trying to wrap Their heads around the technology some Jurisdictions such as the EU which Recently passed its Mica crypto Regulations are further along than Others The authors then reveal that all of These early crypto regulations including Mica will come into Force starting early Next year now this is more significant Than you think because this could make Institutional investors comfortable Allocating to crypto again this means The crypto Market could rally starting Early next year And this coincidentally coincides with The next Bitcoin halving funny how that Happens Anywho the authors also seem to take Issue with so-called crypto hubs they

Seem to imply that crypto Hub is code For Less crypto regulation and appear to Blame them for causing regulatory Arbitrage This could be bad news for places like The UAE Hong Kong and Singapore if the Weft starts pulling strings speaking of Which if you watched our summary of the Wefts annual DeVos conference earlier This year you'll note that there was Overt hostility to a Dubai delegate on One of the crypto panels the chair of The FSB also said that the organization Will address so-called sunny places for Shady people yikes This ties into another important angle The authors raise when it comes to Crypto regulations and that's Geopolitics Deterioration in international relations Is making it difficult to get certain Countries to comply with global crypto Regulation recommendations it's safe to Say that this trend will continue not Reverse This relates to the third challenge to Global crypto regulation and that's Quote fragmented monitoring supervision And enforcement The authors repeat that a lack of International cooperation is one of the Core causes of this fragmentation as Well as the rapid evolution of crypto Related Technologies

The authors then provide the fat F's Infamous travel rule as a case study now To refresh your memory the travel rule Requires all transactions above a Certain threshold to be tracked and Kyc'd the authors lament the fact that Compliance with the fataf's travel rule Has been slow when it comes to crypto on That note you should know that the fat F Has reportedly been pressuring countries To restrict or even permanently ban Crypto in order to get off its naughty Lists if this is true then crypto hubs Could face Financial sanctions if they Don't comply with the fat F's crypto Recommendations a scary thought in any Case the third part of the white paper Is about the possible approaches to Regulating crypto on a global scale the Authors start by providing a de facto List of regulations the weft wants to See Crypto specific stablecoin specific kyc AML consumer protection including Restricting retail access to crypto Strict regulations around crypto Marketing and regulation of defy and Dows The authors then detail the five primary Approaches to crypto regulation the First is principles-based regulation This involves regulating around a series Of broad principles rather than specific Rules the benefits of this approach are

Innovation and flexibility the drawback Is regulatory uncertainty The second approach is risk-based crypto Regulation this involves applying the Same risk same regulation principle Meaning that crypto should abide by Existing Financial regulations the Benefit of this approach is regulatory Certainty and the drawback is difficulty In assessing risks I'll quickly note That the weft is a huge fan of this same Risk same regulation approach it's why You see it in many of the existing Regulatory recommendations for crypto if That wasn't concerning enough in this Section the wef advocates for Eliminating cash and going digital to Ensure that kyc AML is followed Now the third approach to crypto Regulation is what the authors call Agile regulation this effectively Involves allowing regulations to evolve In response to new Innovations the Benefit of this approach is that it is Flexible the drawback is that it Requires lots of coordination and Collaboration with the crypto industry The fourth approach to crypto regulation Is self-regulation which is Straightforward this involves allowing The crypto industry to set standards the Benefit of this approach is that it Builds trust the downside is that it can Lead to capture one company determining

All of the standards for instance The fifth approach to crypto regulation Is one you'll all be familiar with and That's regulation by enforcement this Involves taking crypto companies and Projects to court and using the Precedent as de facto regulations the Benefit is accountability the drawback Is zero Innovation interestingly the Authors asked their so-called Stakeholders about which of these Regulatory approaches is best the Results can be seen here lo and behold Risk-based regulation is the most Popular surely that has nothing to do With the fact that the weft is a fan of This particular approach Anyhab the authors confirm that the Other unaccountable and unelected Organizations such as the FSB and fat F Have been adhering to the wefts Risk-based approach to crypto regulation It's truly crazy to consider just how Much influence the weft has and this is Just the stuff that's public Anyhow the fourth part of the report Contains the wefts recommendations for Global crypto regulations The authors start by explaining that These recommendations are meant for the International organizations governments And quote industry stakeholders who are Presumably a part of the weft In other words these recommendations are

What most crypto regulations are going To look like regardless of what we the People say or do The authors again claim that the average Person will get the chance to give their Input someday but I can't say I'm Confident that they'll keep their word Anyway the first set of recommendations Are specifically for international Organizations these are two create Definitions for different types of Cryptos and crypto activities set Standards for how these cryptos and Activities should be regulated and Shared data about registered entities With all organizations This begs the question of whether Registered entities includes crypto Users like you and me knowing the weft The answer is probably yes after all the End game of these International Elites Is to create a global government with a Global digital ID and a global centrally Controlled digital currency anyway Conspiracy theories aside the second set Of recommendations are specifically for Governments these are to coordinate Regulations between jurisdictions create Regulatory certainty for the crypto Industry and quote use technology for Regulation by Design regulation at the Blockchain level via Smart contracts Remember the weft loves programmability The third set of recommendations are

Specifically for the crypto industry They are to set standards to share best Practices and ensure quote responsible Innovation this seems to be code for Adhering to ESG criteria given that the Term refers to environmental social and Economic risks if you've watched any of Our videos about ESG you'll know that It's an investment ideology intended to Ensure that the un's sustainable Development goals or sdgs are met Every country is supposed to meet the Un's sdgs by 2030 which is why you see That date everywhere and for everything Our research suggests that all the Dystopian stuff being pushed has its Roots in the un's sdgs be it cbdc's Digital IDs smart cities or online Censorship what we have yet to figure Out is who exactly is behind the un's Sdg campaign if you have any ideas drop Them in the comments section So this brings me to the big question And that's how the wefts global crypto Regulation recommendations could affect The crypto Market if they're implemented Well the short answer is that it would Result in the crypto industry being Absorbed into the existing Financial System which is exactly what the weft Wants This is because the Practical effect of Risk-based Regulation is that crypto is Forced to comply with existing Financial

Regulations as the authors themselves Tacitly admit these risks posed by Crypto aren't always clear and many Would argue that the risks are Significantly different this justifies Different regulations In fact the wefts recommendations would Make crypto worse than the existing Financial system that's because they Would require info about all registered Entities to be shared with International Organizations require regulations to be Enforced via Smart contracts and require All cryptos to be ESG compliant These three problematic recommendations Have one thing in common and that's Governance AKA control if you watched Our video about ESG and Bitcoin you'll Know that the environmental aspect isn't The problem it's the governance Bitcoin Can't be controlled because it has no Governance structure in case you haven't Noticed this is the core issue that the Weft and its allies are trying to Address how do we control something that Is designed not to be controlled it's Possible if not likely that the end game Of the environmental focused attacks on Bitcoin is actually to track all Bitcoin Miners and nodes this is something that The wefts global crypto regulations Would prescribe because Bitcoin Miners And nodes would presumably need to be Registered their information would

Therefore have to be shared with all International organizations at that Point it would become possible to Control Bitcoin in theory at any rate in Practice the wefts global crypto Regulations will never come to pass and This is something the authors have Tacitly admitted as well in addition to All of the geopolitical tensions it's Practically impossible to introduce the Same crypto regulations in every single Country at the same time this means that There's going to be some regulatory Arbitrage whether it's intentional or Not this regulatory Arbitrage will exist For years and in some countries it will Persist for decades so long as there's a Country out there that the weft can't Influence it won't be able to fully Corrupt crypto and because crypto Innovation is essentially exponential There's a high likelihood that it will Evolve to a point that it can't be Controlled by the weft and its allies This is perhaps the most important Takeaway crypto is too fast for the weft Klausenko will never be able to keep up And crypto will eventually win the race Right now though there are lots of Hurdles facing the crypto industry and The wefts white paper suggests that it Played a role in putting those hurdles In place whether it's the FSB or the fat F the wefts fingerprints are there and

I'd be lying if I said there weren't Weft allies in the crypto industry too Even so we truly believe that the Incentives of crypto are stronger than The wefts cronyism if you create a Powerful crypto or protocol that makes It possible for the average person to Preserve their purchasing power grow Their wealth and maintain their Financial Freedom you are rewarded in Every possible way as purchasing power Wealth and Financial Freedom continue to Erode the incentive to create powerful Cryptos and protocols will only increase At some point the incentives will become So strong that the wefts hurdles will Become irrelevant the people will want Freedom and they will achieve it it Through crypto And that's all for today's video if you Found it informative smash that like Button to let me know be sure to Subscribe to the channel and ping that Notification Bell so you don't miss the Next one also take a second to share This video with any friends and family That you think need to see it if you Happen to be looking for a safe place to Store your crypto you should know that The coin Bureau deals page has the Biggest discounts on the best hardware Wallets it's also got trading fee Discounts of up to 50 and almost 40 000 Worth of bonuses check it out using the

Link in the description thank you all so Much for watching and I'll see you next Time till then stay cool stay safe and Stay crypto Thank you


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