From Belgium: Cryptocurrency will still be the ‘Wild West of Finance’; but now there will be a new Sheriff in town. And that Sheriff, is the European Union.
Libra, Bitcoin, and Ethereum (Piaxbay)
ZeroHedge posted the following:
December 13, 2021
Let’s tune into some surprisingly hands-off regulatory proposals in the EU in the crypto space …
Surprising Twist for Crypto Regulation in the EU
Eurointelligence wrote about the Surprising Twist for Crypto on December 3.
Decentralised finance happens to be one of the few high tech areas where the EU is doing quite well. Last week the Council adopted its position on proposed crypto market regulations for Defi products. They are very industry-friendly.
The proposed regulations are the most important to date for the European crypto industry because they establish rules for issuers, or the developers and companies behind tokens, as well as crypto-asset services providers, or exchanges and custodians.
Happily for the EU industry, the new regulations do not apply to non-fungible tokens, NFTS. Nor do they apply to utility tokens, meaning any crypto asset that provides access to a good or service provided by the issuer. Crypto-assets that are offered for free, airdrops, are also exempt. Crypto assets automatically created as a reward for maintaining the blockchain on which they operate are also unregulated.
It’s a different story for stablecoins. The EU remains attached to the idea of launching its own central bank digital currency. Whether pegged to a fiat currency or basket of currency or assets, any form of stablecoin will be under strict regulation including a ban on earning interest, and a requirement for all issuers to be granted permission by the relevant national authority.
Fully decentralised exchanges are not subject to these rules, most likely because, as we’ve been arguing, it would be impossible to enforce them.
In another pleasant surprise for the industry, self-custody software and hardware wallets do not fall under the new regulations either. Earlier announcements that the EU planned to ban anonymous wallets appear to have been premature: there seems to be a growing recognition in the EU of what is and is not possible in Defi and crypto.
Belgian Politics Synopsis
Please consider the Most Important Piece of Regulation on Cryptocurrencies
The most important piece of regulation on cryptocurrencies in the world thus far has arrived: I read through all 405 pages of the “Proposal for EU Regulation on Markets in Crypto-Assets” so you don’t have to. …
These crypto-assets face some regulation. The Regulation describes very detailed rules on the contents of white papers and also establishes rules on marketing communications. This is bad news for scams with poorly written, undetailed white papers and those using misleading forms of marketing. The European Securities and Markets Authority (ESMA) will most likely establish templates and standards for white papers in the crypto-industry (see Regulation Title II for further details).
Link to follow-up on the Ordinary Legislative Procedure: https://eur-lex.europa.eu/legal-content/EN/HIS/?uri=CELEX:52020PC0593
Link to the proposed EU Regulation on Markets in Crypto-Assets: https://www.consilium.europa.eu/media/53105/st14067-en21.pdf
Link to the “Brussels Effect”: https://en.wikipedia.org/wiki/Brussels_effect
Blogs, crypto journalists (you know who you are), etc. are all free to use the info in this post. No need to credit me. I just want people to be informed.
Belgian Politics Overall Assessment
I am pleasantly surprised. While some of you want nothing to do with regulation, which I respect, this seems very reasonable and a step in the right direction.
Cryptocurrency will still be the ‘Wild West of Finance’; but now there will be a new Sheriff in town. And that Sheriff, is the European Union. It does no longer tolerate unregulated stablecoins; it does no longer tolerate shady projects with no utility, crappy white papers, and misleading marketing; and it sure as hell does no longer tolerate unprofessional exchanges who screw EU citizens out of their money. But it does like innovation and it will try not to hinder development in the cryptocurrency and blockchain space because they have made similar mistakes before in other industries.
This text has clearly been written by highly knowledge civil servants and has been endorsed by EU Ministers of Finance with a more open approach to blockchain and cryptocurrencies than their non-EU counterparts. The EU made the mistake of allowing the US/Asia to dominate the tech industry. They do not want to repeat that mistake with the cryptocurrency space. https://www.zerohedge.com/crypto/eu-well-ahead-us-crypto-support-and-regulation
So, we see a claim that Europe will be the dominant force in cryptocurrency.
I, too, expect that–though not in the way the Belgian means it.
Why?
Because of various biblical prophecies, as well as steps that the Europeans have already taken and others they indicate that they wish to take in the future.
Notice what was said by a financial leader in Europe earlier this year:
Head of the European Central Bank Christine Lagarde has called for global regulations on Bitcoin, labeling the cryptocurrency “reprehensible.” …
“When you look at the most recent developments upward, and now the recent downward trend … for those who have assumed that it might turn into a currency, terribly sorry but this is an asset and it is a highly speculative asset,” she said. …
“(Bitcoin) has conducted some funny business and some interesting and totally reprehensible money laundering activity,” said Lagarde.
The ECB head went on to call for Bitcoin to be regulated by financial authorities.
“There has to be regulation. This has to be applied and agreed upon […] at a global level because if there is an escape that escape will be used,” she said. https://summit.news/2021/01/13/ecb-head-christine-lagarde-calls-for-global-regulation-of-reprehensible-bitcoin/
The idea of eliminating or somehow regulating cryptocurrencies like Bitcoin is something that long-term readers of this COGwriter Church of God News page have been tipped off about for many years.
Back in 2013, I posted the following:
There were some interesting comments about Bitcoin in the news from Ron Paul …
December 4, 2013
Imagine a world in which you can buy anything in secret. No banks. No fees. No worries inflation will make today’s money worth less tomorrow.
The digital currency Bitcoin promises all these things. And while it’s far from achieving any of them — its value is unstable and it’s rarely used — some have high hopes.
“There will be alternatives to the dollar, and this might be one of them,” said former U.S. congressman Ron Paul. If people start using bitcoins en masse, “it’ll go down in history as the destroyer of the dollar,” Paul added. http://money.cnn.com/2013/12/04/technology/bitcoin-libertarian/index.html
There is no way governments will intentionally allow a system that gets around all of their financial espionage. China is starting to publicly state that, and the government of USA has also begun to try to figure out how to handle Bitcoin (Congress has held one or more hearings). That being said, since China wants to eliminate the US dollar as the world’s reserve currency, despite is announcement today, it may continue to make some accommodations for Bitcoin and/or anything else that could reduce US dollar trade.
Related to financial controls, there are some who believe that Bitcoin will become fully regulated/taken over to the point that it will be associated with the ‘mark of the beast.’ Here is one such comment:
If I’m allowed to get Biblical…”Rich man or poor man, free or bond, will not be allowed to buy or sell unless he accepts the mark of the beast.”
Bitcoin is a very smooth end run to achieve that objective.
Here is another related item:
MARK OF THE BEAST WATCH! Canada to get world’s first Bitcoin ATM…
The ATMs will use palm scans to identify users and enforce the limit, which is also designed to prevent problems with anti-money-laundering laws. http://ppsimmons.blogspot.com/2013/10/mark-of-beast-watch-canada-to-get.html
The “mark of the beast” scripture is from the Book of Revelation which makes the following statements concerning the financial controls of the coming Beast power:
16 He causes all, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads, 17 and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name.
18 Here is wisdom. Let him who has understanding calculate the number of the beast, for it is the number of a man: His number is 666. (Revelation 13:16-18)
The Bible is clear that the time is coming when the Beast power will have implemented some type of strong financial control. Thus, it is not likely that Ron Paul’s hope of being able to buy and sell privately with something like Bitcoin will last. The Beast power will not allow it, and it is likely that the USA government will take more steps to try to either stop it or at least secretly spy on it. (Thiel B. Bitcoin, China, NSA, & the Beast. COGwriter, December 5, 2013)
Yes, Europe, which will be the source of the Beast wants Bitcoin regulated. The Europeans also want to eliminate US dollar dominance in the world.
The time of controlling buying and selling-666-is coming.
Some, have long wanted that.
Furthermore, Bitcoin aside, Europe has been in the process of putting together what may become the enforcer of controlling buying and selling. We put together the following video related to that:
The European Union is in the process of establishing the European Public Prosecutor’s Office. This is a major, first-of-its-kind move, with the EU setting up a European-wide prosecutor’s office that will have power to investigate and charge people for financial crimes committed against the EU. It looks like this type of office may end up persecuting those that do not have the mark of the Beast when they “buy or sell” as that will later be considered a financial crime in Europe. What does 666 mean? How has that name be calculated? How can we be certain that this is a prophecy for Europe and not Islam? Is the appointment of this new office of significant prophetic importance? Dr. Thiel addresses these issues and more by pointing to scriptures, news items, and historical accounts.
Here is a link to the sermonette video: EU Setting Up 666 Enforcer?
The European Public Prosecutor’s Office officially started operations on 1 June 2021 (https://www.eppo.europa.eu/en/background).
Moves towards monitoring payments was number 13 of my list of 21 items to prophetically watch in 2021.
As far as cryptocurrencies go, we put out the following related to a European leader who has been involved in them:
American Express just announced a deal with Ripple related to using its blockchain technology. No longer confined to Bitcoin, blockchain technology is moving towards the mainstream. Former German Economic and later Defense Minister, Karl-Theodor zu Guttenberg has long been an adviser to Ripple and has plans for internationally-expanding the use of blockchain money. Jim Rickards, Doug Casey, and others have expressed concerns that blockchain money will give governments too much control over buying and selling. Could any of this be related to biblical prophecies in the Books of Daniel and Revelation? Could any of this help fulfill the prophecies related to buying and selling and 666 in Revelation 13? Dr. Thiel addresses these issues and more.
Here is a link to our video: Blockchain, Karl Guttenberg, and 666.
Europe wants to be the world’s sheriff, the world’s regulator, of digital currencies. It has been setting up an enforcement arm which will assist with its ability to do so.
The time of controlling buying and selling-666-is coming.
Those who think that they will be able to massively get around governmental financial surveillance in the future with Bitcoin or something like it, simply are not understanding biblical prophecy.
Totalitarian control of financial matters is coming–and if private cryptocurrencies survive until then, they will be regulated and surveilled.
Do NOT place your confidence in cryptocurrencies, the US dollar, the Euro, or gold, but “seek first the Kingdom of God” (Matthew 6:33).
UPDATE 01/02/22: We just uploaded a related video:
EU to be ‘Sheriff’ of BitCoin & Digital Currencies
Will Bitcoin remain unregulated? The European Union does not think it should be and it released a paper titled “Proposal for EU Regulation on Markets in Crypto-Assets.” Christine Lagarde, president of the European Central Bank, earlier endorsed EU regulation of crypto and digital currencies. A Belgian declared that the EU was the “new Sheriff in town” to deal with the “wild west” of Bitcoin, blockchain, and other cryptocurrencies. The European Union now also has the European Public Prosecutor’s Office in operation, mainly to deal with financial matters? Will the Europeans end up controlling buying and selling associated with 666 in Revelation 13:16-18? Is Europe taking preliminary steps to do so now? Dr. Thiel address these issues.
Here is a link to our video: EU to be ‘Sheriff’ of BitCoin & Digital Currencies.
Some items of possibly related interest may include:
The End of US Dollar Dominance Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan.
USA in Prophecy: The Strongest Fortresses Can you point to scriptures, like Daniel 11:39, that point to the USA in the 21st century? This article does. Two related sermon are available: Identifying the USA and its Destruction in Prophecy and Do these 7 prophesies point to the end of the USA?
Who is the King of the West? Why is there no Final End-Time King of the West in Bible Prophecy? Is the United States the King of the West? Here is a version in the Spanish language: ¿Quién es el Rey del Occidente? ¿Por qué no hay un Rey del Occidente en la profecía del tiempo del fin? A related sermon is also available: The Bible, the USA, and the King of the West.
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States? In the Spanish language check out ¿Quién es el Rey del Norte? Here are links to two related videos: The King of the North is Alive: What to Look Out For and The Future King of the North.
The Great Monarch: Biblical and Catholic Prophecies Is the ‘Great Monarch’ of Catholic prophecies endorsed or condemned by the Bible? Two sermons of related interest are also available: Great Monarch: Messiah or False Christ? and Great Monarch in 50+ Beast Prophecies.
Jesus Returning, David’s Throne, and the Stone of Destiny Will Jesus return to the throne of David? What about the Stone of Scone? Here is a link to a related video: Stone of Destiny and Jesus’ Return.
Might German Baron Karl-Theodor zu Guttenberg become the King of the North? Is the former German Defense Minister (who is also the former German Minister for Economics and Technology) one to watch? What do Catholic, Byzantine, and biblical prophecies suggest? A video of related interest would be: Karl-Theodor zu Guttenberg and Europe’s Future.Physical Preparation Scriptures for Christians. We all know the Bible prophecies famines. Should we do something? Here is a version in the Spanish language Escrituras sobre Preparación física para los Cristianos. Here is a link to a related sermon: Physical preparedness for Christians.
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold? A video of related interest may be: Germany, Gold, and the US Dollar.
Is God Calling You? This booklet discusses topics including calling, election, and selection. If God is calling you, how will you respond? Here is are links to related sermons: Christian Election: Is God Calling YOU? and Predestination and Your Selection. A short animation is also available: Is God Calling You?
Christian Repentance Do you know what repentance is? Is it really necessary for salvation? Two related sermons about this are also available: Real Repentance and Real Christian Repentance.
Orwell’s 1984 by 2024? In 1949, the late George Orwell wrote a disturbing book about a totalitarian government called “nineteen-eighty four.” Despite laws that are supposed to protect freedom of speech and religion, we are seeing governments taking steps consistent with those that George Orwell warned against. We are also seeing this in the media, academia, and in private companies like Google, Facebook, and Twitter. With the advent of technology, totalitarianism beyond what Orwell wrote is possible. Does the Bible teach the coming a totalitarian state similar to George Orwell’s? What about the Antichrist and 666? Will things get worse? What is the solution? Dr. Thiel answers these questions and more in this video.
The Mark of Antichrist What is the mark of Antichrist? What have various ones claimed? Here is a link to a related sermon What is the ‘Mark of Antichrist’?
Mark of the Beast What is the mark of the Beast? Who is the Beast? What have various ones claimed the mark is? What is the ‘Mark of the Beast’?
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is a link to a video titled: Can You Prove that the Beast to Come is European?
European Technology and the Beast of Revelation Will the coming European Beast power would use and develop technology that will result in the taking over of the USA and its Anglo-Saxon allies? Is this possible? What does the Bible teach? Here is a related YouTube video: Military Technology and the Beast of Revelation.
Satan’s Plan Does Satan have a plan? What is it? Has it already been successful? Will it be successful in the future? Here are links to a two-part sermon series: What are Some of the Parts of Satan’s Plan? and Satan’s Plan is More Dramatic than Many Realize.
21 items to prophetically watch in 2021 Much is happening. Dr. Thiel points to 21 items to watch (cf. Mark 13:37) in this article. Here is a link to a related sermon video: 21 Items to Watch in 2021.
When Will the Great Tribulation Begin? 2022, 2023, or 2024? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede la Gran Tribulación comenzar en el 2020 o 2021? ¿Es el Tiempo de los Gentiles? A related video is: Great Tribulation: 2026 or 2027? A shorter video is: Can the Great Tribulation start in 2022 or 2023? Here is a video in the Spanish language: Es El 2021 el año de La Gran Tribulación o el Grande Reseteo Financiero.
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