Save Crypto/Stop the SEC
I opened my mail today, as I was going through deleting most of it, an email from LBRY caught my eye. LBRY is up against the SEC. To keep this short and to the point, the SEC is targeting most blockchain tokens and wants to identify them as securities. Even the previously safe ETH might not be safe under the new, more aggressive SEC protocol.
We know that the US government hates cryptocurrency or any system that gives the little man a profit. Not every country is as strict on taxes as the US. My wife is a citizen of Taiwan, where they don't tax capital gains as the US does. With all the momentum that the cryptomarket has had in the last year, that's a definite plus. The US doesn't care if you lose everything, just when you win. Ask any small business owner.
Back on topic, LBRY is a very interesting case for the SEC to take on because LBRY didn't do their ICO and it doesn't participate in the sales of the token. So what does the SEC want? Of you know, leave a comment.
I think that the government is worried that the USD is going to either collapse or have a shaky transit to the Central Bank Digital Currency. During the change, the other cryptocurrencies will skyrocket. Unfortunately for the USD, so will China's national crypto. That might be enough of a push to knock the USD from its throne as the only currency accepted by OPEC. Without the oil to back up the USD, we lose a lot of strength and encouragement for foreign countries to buy our bonds that support the Federal Reserves' unrestricted printing of cash. Alas, economic implosion.
So, what can we do? Here is a petition to sign from LBRY. You can participate in an action that will show the SEC that we, the little people, can stand strong. If you see the value of blockchain technology and the advantages of cryptocurrency, sign the petition.
Save LBRY Petition
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