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RE: German Government Shuts Down 47 Exchanges

in #newslast year

This is so frightening. Germany seems to be mirroring what has been happening in the US for the past few years. I believe the reason the crackdown has happened here in America has been to consolidate exchange activity to just a handful of companies so they can be more easily controlled by regulators. Here in this country the crackdown occurred in the years leading up to the BTC ETF approvals. My wife and I are trying to purchase a property right now and one of the major US banks are refusing our USD deposit from a crypto exchange. This is the first time this has happened to me in six years and it's been a complete nightmare. Our funds are frozen and we have have the property closing coming soon. I believe governments of the world will continue to make it tougher for citizens to trade crypto and move the fiat proceeds of crypto sales into the traditional banking system. I believe if crypto is legal we should have freedom to transact, if not the governments should make it illegal. But they "want to have their cake and eat it too". They want banks and hedge funds to reap insane crypto profits while making it difficult for individuals to do the same.

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Sadly agree.