Biden Sets Framework For Regulating Cryptos/Central Bank Digital Currencies

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CNBC: The Biden White House has just released its first-ever framework on what crypto regulation in the U.S. should look like — including ways in which the financial services industry should evolve to make borderless transactions easier, and how to crack down on fraud in the digital asset space.

The new directives tap the muscle of existing regulators such as the Securities and Exchange Commission and the Commodity Futures Trading Commission, but nobody’s mandating anything yet. The long-awaited direction from Washington has, however, captured the attention of both the crypto industry as a whole — and of investors in this nascent asset class.

The framework follows an executive order issued in March, in which President Joe Biden called on federal agencies to examine the risks and benefits of cryptocurrencies and issue official reports on their findings.

For six months, government agencies have been working to develop their own frameworks and policy recommendations to address half a dozen priorities listed in the executive order: consumer and investor protection; promoting financial stability; countering illicit finance; U.S. leadership in the global financial system and economic competitiveness; financial inclusion; and responsible innovation. Together, these recommendations comprise the first, “whole-of-government approach” to regulating the industry.

Brian Deese, director of the National Economic Council, and national security advisor Jake Sullivan said in a statement that the new guidelines are meant to position the country as a leader in governance of the digital assets ecosystem at home and abroad. Read More …

Opinion: We have established (HERE) and (HERE), that on March 9, 2022 President Biden signed Executive Order 14067 authorizing the Federal Reserve to evaluate crypto currencies and specifically central bank digital currencies, and report back to the president in 6 months. That is now.

I had to read deep into the above CNBC article to find mention of central bank digital currencies. It is presented as a benefit to the financial system.

Article: A new kind of digital dollar

The framework (for crypto currencies), also points to the potential for “significant benefits” from a U.S. central bank digital currency, or CBDC, which you can think of as a digital form of the U.S. dollar.

Right now, there are several different types of digital U.S. dollars.

Sounds harmless, doesn’t it?

“Then there’s the hypothetical digital dollar that would be the Federal Reserve’s take on a CBDC. This would essentially just be a digital twin of the U.S. dollar: Fully regulated, under a central authority, and with the full faith and backing of the country’s central bank.”
“A dollar in CBDC form is a liability of the central bank. The Federal Reserve has to pay you back,” said Ronit Ghose, who heads fintech and digital assets at Citi Global Insights.
Federal Reserve Chair Jerome Powell previously said the main incentive for the U.S. to launch its own central bank digital currency would be to eliminate the use case for crypto coins in America.
“You wouldn’t need stablecoins; you wouldn’t need cryptocurrencies, if you had a digital U.S. currency,” Powell said. “I think that’s one of the stronger arguments in its favor.”

In the White House’s new framework, it points to the fact that a U.S. CBDC could enable a payment system that is “more efficient, provides a foundation for further technological innovation, facilitates faster cross-border transactions, and is environmentally sustainable.”

Hold it right there.

Paragraph 2 says the CBDC, like the paper dollar, will be “under a central authority, and with the full faith and backing of the country’s central bank“, which began in 1913 under the Federal Reserve Act.

Therefore, if the US dollar is backed by the central bank (Federal Reserve), and not the full faith and credit of the US government, and the Bank of International Settlements (BIS, Basel Switzerland) is the “central bankers banker”, is it then possible that a future authoritarian world leader will be able to gain control of ALL money through control of the European BIS, which not coincidentally could be the fulfillment of Daniel 9:26 as the headquarters of the revived roman Empire?

” … And the people (Rome) of the prince who is to come (Antichrist)
Shall destroy the city and the sanctuary …” (destruction of the 2nd temple in 70 AD)

Also not coincidentally, the BIS building in Zurich just happens to resemble artist renderings of the Tower of Babel

The Tip Of The Iceberg on Twitter: "Tower of Babel Vs Buildings today The last one: Bank of International Settlement. https://t.co/GWUetDlmNR" / Twitter

Nah, it can’t be, can it? One might conclude then that all that we need next is an authoritarian leader with a notable appearance that is greater than his fellows (Dan. 7:20 KJV) to rise in Europe with a name that means God with us …

Article: “Jerome Powell previously said the main incentive for the U.S. to launch its own central bank digital currency would be to eliminate the use case for crypto coins in America”. In the stroke of a pen, over 100 stable coins as a currency will be virtually eliminated, which is what happened in China …

The real motivation behind China's digital yuan - Asia Times

… with the (limited) release of the digital yuan.

And with one banking entity controlling the world’s money, how big a step away \is Revelation 13:16-17?

“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.”

Somebody Call Somebody.

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