Today in Krypto, a little known financial body called the Financial Stability Board could be dropping the equivalent of a nuclear bomb on the entire crypto-economy with a recommendation to ban all stable coins. Now, if this motion succeeds and it is indeed passed into law by the world’s major economies, then we could be facing a bit of a crypto apocalypse, with prices plunging potentially to unimaginable lows. If all stable coins are removed from the market. So even if you are not a stable coin holder, you need to hear this because this is a massive assault on the cryptocurrency industry and is really showing that cryptocurrencies are worrying the banks in a major way. The crypto lark, this is where you subscribe for all of the hottest and all of the latest happening out there in the wild, wildland of crypto. And if you are due to crypto, then I have made a beginners course to save you your time and to save you money by walking through all of the basics, like how to buy sand mine and store bitcoin in an area with step by step tutorials and top resources. There is a link down below where you can learn more. So the big story of today is that the Financial Stability Board has outlined 10 recommendations to central banks for regulating stable coins, including total pro habitation. Now, you have probably never heard of the FS B, but it is a powerful organization comprised of central banks and finance ministries from the world’s major economies. Now, of course, the board has also hosted and funded by the Bank for International Settlements. The Bank of International Settlements, in case you don’t know, is like the central bank of central banks. It’s kind of like the head of the evil octopus whose tentacles stretch out and just suck the life force out of countries around the world and just hand everything over to the bankers. That’s the B, I guess, or the big B.S., if you will. Now, the FSB issues non-binding recommendations, but more often than not, these recommendations and up being implemented and the recommendation that the FSB just made to the G20 is that stable coins are a big threat to the power of the banks and that major stable coins including USD T USD C T USD Paxos and die should be prohibited now just for reference. The G20 consists of the following countries, which is basically a list of all of the world’s major economies. We have Argentina. Australia, Brazil. Canada. China. France. Germany. India. Indonesia. Italy. Japan. Mexico, Russia. Saudi Arabia. South Africa, South Korea. Turkey. The United Kingdom, the United States and the E U. So that’s all the big ones. All the big ones right there in one group. And they’re all talking about the potential to ban stable coins. Now, not only is the world the world’s biggest economies, but those markets also make up basically the entire volume of the entire crypto industry. And just for fun, too, the FSB also counts among its members, the IMF, the World Bank and the European Central Bank, in particular, the SDF FSB warned that stable coins could pose a big risk to global financial stability, especially in emerging markets and developing economies. I mean, hey, you can’t have people in developing economies getting financial freedom that just wouldn’t work for those big, powerful central banks. No, no, no, no, no. Not today, my friends. The FSB goes on to state that stable coins also pose significant governance challenges to central banks in particular. They are concerned that citizens in both advanced and emerging economies might begin favouring stable coins over existing fiat currencies. Did you hear that? The bankers are scared. Crypto has indeed kicked the frickin hornet’s nest and the bankers are worried about the implications. Decentralized, open public networks are a real and present danger to the monopoly of power that the central banks currently enjoy. We should really be proud of away. Cryptos made it, guys. We’ve made it. They’re talking about us at the highest levels of the global economy, the central banks of the world. They are scared of crypto technology can end the tyranny of central banks in their commercial bank whores. In a way, this is all incredibly exciting. Now you might say, hey, look, I don’t own stable coins laughs. So why should I care? Well, for a few reasons. Racing stable coins will absolutely crush daily volumes in the crypto industry. Stable coins make up more than $40 billion a day in volume, which is nearly half of the daily spot market volume. It will also have a very negative impact on the crypto lending markets and of course, also on decentralised finance markets, which basically are all of the financial services beyond just sending bitcoin from person to person. B all the services, the auction, crypto useful for billions and billions of people. Also, we should always speak up for financial freedom. Freedom is freedom. Free markets are a great thing, not Ranzie That quote from World War 2. First, they came for the Socialists and I did not speak out because I was not a socialist. Then they came for the trade unionists and I did not speak out because I was not a trade unionist. Then they came for the Jews and I did not speak out because I was not a Jew. Then they came for me and there was no one left to speak for me. Now apply that same logic to crypto. First, they came for the privacy coins and I said nothing. Then they came for the stable coins and I said nothing. And when they came for bitcoin, there was no one left to speak up. If you are a bitcoin maximalists and you’re out there cheering this on, say yeah, take down all the stable coins man, wake the fuck up. The exact same reasons that they are citing today to justify a stable coin ban that will be used against bitcoin in the future. Yes, today it’s stable coins, but tomorrow it will be basically anything that threatens the Fiat monopoly that the central banks have over society. And that thing, if you are really a believer in bitcoin, is bitcoin. Well, the bankers cannot shut bitcoin down. They can certainly do a whole heck of a lot to regulate it into impotence. The fight for financial freedom is everyone’s fight. Now, look at a practical level here. It will not stop all stable coins. It will certainly shut down the regulated and semi’s regulated ones, things like USD C and Paxos as well as course as Heather. Now, these coins are uniquely vulnerable because there are people who can be arrested and forced to shut the whole gosh darn thing down. There are bank accounts which can be seized by authorities, thus shutting the whole gosh darn thing down. Di, however, will be much, much harder to stop because this is really a decentralized, stable coin and it may not even be stoppable since it is really just a crypto-backed collateral coin, but that remains to be seen if they will be able to stop that or not should all of this go through. And hey look. Yeah, sure. Teather is a mess. I’ve been a very critical teller for a long time, but others like Dai and U.S. DC, they are not stable coins or a very useful part of the crypto economy and they should exist. Also a stable coin band likely through bitcoin into what could be the worst bear market of all time. I mean this if this happens, we could see a sub $1000 bitcoin. A nice time for buyers, right? I would totally be stacking some bitcoin at those prices, but such an event I think would actually destroy a lot of people’s faith in the crypto industry overall now long term. This could be positive for bitcoin only being traded directly in and out of fiat. But it will also push the industry more towards really highly regulated exchanges and more into the hands of Wall Street in the long run. The FSB man. Seriously, what the fuck are these guys anyway? More on elected bureaucrats. Just pull in our pants down and give us dirty old Roggeveen bureaucrats. Man bureaucrats. Anyway, this story extra reminds me of a story from last year about the F A T F and the coming implementation of the travel rule. You see the F A.T.F. On the issues recommendations like the FSB does and their recommendation was to do KYC on every withdrawal happening from crypto exchanges and of the official wallet providers. And to have the addresses for these wallets connected to names and ideas. Well, you know what? That recommendation that’s happening within the next year, we are likely to see a full implementation of the F 80 FS travel rule on to crypto. These unelected governing bodies, they have massive power. Welcome to the slave planet. My friends, now I know this. Some of you may be thinking lark’s out here spreading fraud Dardari. No, no, that’s not what I’m doing. These are real laws being considered and knowledge is power. You should always know what is going on in the industry. What I see here is that currently, in spite of the whale manipulations we have in the crypto market, we actually have a largely free 24/7 marketplace with crypto. I want to keep it that way. I the crypto Marcus me as free as possible. We do not need nor do we want bureaucrats to tell us what we can or cannot trade or how we can or cannot exchange value with other people. And look, final point here for you. There has been no final verdict as to what countries will do. This recommendation may not pass into law. That is just a recommendation at this stage, but a recommendation by a very powerful regulatory body. I hope that the final whatever is not this, but how this is playing out is nearly identical to how things played out with the EFF ATF last year. So it is worth being aware of. But one thing has made abundantly clear crypto is a threat and they damn well know it. Just understanding that they are out there discussing banning stable coins shows that crypto has made it to the big time. So congratulations us. But wow. Still not cool. They’re gonna potentially do this to stable coins, but wiping out stable coins. It is potentially also a natural progression towards central bank digital currencies, which make no mistake, those are coming and they will be very impactful when they do. The banking cartels are going to do anything that they can to maintain power which screws bankers. Seriously, what a bunch of douches. Never is your freedom given priority. It’s only ever their power, their money, their mates, their rules, their profits, their game. What a sick system to live in decentralized systems. There’s so much more exciting than what we have right now. We must stop bowing down and submitting to the poor versions of these ruling elites. But one thing does remain certain in my mind, even if stable coins get crushed. Bitcoin will carry on. Bitcoin is the steady survivor. Rain or shine, hell or high water. The blocks just keep coming. The fight for financial freedom is now entering. The next phase in Bitcoin remains the tip of the spear. In a weird way, all of this that I’ve discussed today, it kinda really makes me more bullish on the future of cryptocurrencies. But I don’t know. I’m a weirdo. What do I do anyway? What do you think about all of this? Is it nothing to be worried about? Do you think it won’t actually be implemented? Maybe you’re out there cheering for the death of all stable coins. Or do you think that this could actually just be a potentially major setback for the industry with something maybe it will overcome in the long term or maybe some other opinion? Love to know your thoughts down below in the comments section. Thank you so much for watching today’s video. Hope you have an awesome day wherever you are. And again, just thank you for supporting the Channel 4. Let me come out here and make these videos talking about cryptocurrency all the time. Your support just means the world. So thank you. So, so about you. Of course, if you didn’t join today’s video that thumbs up button, make sure to subscribe to channel. If you’re a new round here. Long live the blockchain. ADS-B sounds next time.