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It is amazing how authorities and banks can decide for our own benefit. They can block accounts from purchasing certain items or cryptocurrencies and can forbid us from leaving the city, the state, or whatever, in the name of our own good, whether we're talking personal funds or our own personal health.
I'd say this has gone too far and the recent obstacles that banks and payments services are throwing at BINANCE are a clear sign of fear and desperation. When you have Barclays and Santander forbidding their customers from transfering money to crypto exchanges for buying cryptocurrencies, the fear it's pretty clear.
So far they don't seem to be against people withdrawing money from the exchange because they know that money is gonna end up in accounts they're managing, taxes are going to be paid and so on. They're sneaky with their tactics, as the recent notices that Santander customers are getting through e-mails regarding Binance.
We're stopping payments to Binance for your protection*
And you do that with my own money? Are you nuts? That's what I would reply to such an e-mail. Who's a bank to decide what I can and cannot buy with my own money. As long as cryptocurrencies are not illegal why would anyone have the right to decide if I can buy myself some Bitcoin or not.
In my country the situation is pretty much the same, although the central bank governor has stated that cryptocurrencies are not illegal in Romania and they do not pose a threat to our native currency.
Another important aspect of the message is that wherever possible... It's clear that they can't control everybody's accounts but they try their best to do so. There's no problem for withdrawals, the problem is cash flying out of their banks and getting into crypto. They're scared.
The fraud bullshit can be served to 12 years old, although not even these won't fall for it any longer, but not to grown ups eager to buy crypto. That's a sign of desperation.
They don't give a shit about us. They just care about control and putting their hands on an absolute form of control over the society. Even "The European Union (EU) is to propose a new agency and new rules concerning crypto-asset transfers."
They're all into crackdowns and that's probably good for crypto. This revolution has started as a panacea of the current crooked political and financial system and it's designed to fight adversity. Hence I have the feeling that we will have more and more DEXs over the years to come, DeFi, crypto payments cards, etc.
More and more will turn over to replicating what El Salvador is doing, showing a big middle finger to centralized systems such as banks and governments. To be honest, at this point crypto is the last thing that means freedom to me.
The rest is pretty much in their control. If we lose this fight, too, we're screwed. Nothing comes easy, thus we need to fight, build and innovate. Remember that when a door closes, a window gets opened.
Thanks for attention,
Adrian
