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U.S. Congress Drafts Bill Protecting Cryptocurrencies, Like Bitcoin, From Government Interference

U.S. Congress members are drafting a new bill that will protect cryptocurrencies from government interference, while simultaneously ensuring that users meet minimum requirements to prevent the currencies from being used by criminals.

Michelle Blair

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The idea of cryptocurrencies is absolutely genius, and they’ve certainly become more popular over the past few years. Bitcoin has come a long way since its original release in 2009, and its future seems promising. Bitcoin, which represents the leading cryptocurrency, has already reported a rise of over 300% in 2017. Only a month ago, Bitcoin was worth $2,000, and now it’s doubled in value. It hit a record high last week at $4,500, and has decreased slightly since then, sitting at $4,276 today.

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There are many advantages to using cryptocurrencies. You’re not supporting big banks, it’s anonymous and secure, and you don’t have to pay any online transaction fees or bank transfer costs, which can get pretty steep when dealing with large sums of money.

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However, there are perhaps more roadblocks than advantages when it comes to cryptocurrencies, one of which is the potential for government intervention. Of course, in some cases this is necessary, given the potential for money transfers going toward human trafficking, drug smuggling, and other illegal activities, but even regular users were worried about the potential for government intervention due to taxation issues and concerns over U.S. border control/customs regulations.

As a result, U.S. Congress members are drafting a new bill that will protect cryptocurrencies from government interference, while simultaneously ensuring that users meet minimum requirements to prevent these currencies from being used by criminals. In essence, the government is creating a bill that both allows and disallows government interference.

The Bill That Could Help Cryptocurrencies Become Mainstream

The proposed legislation is aimed at protecting cryptocurrencies from being used to conduct illegal activities, while aiding in mainstream adoption. It has been speculated that at least one Republican Senator and two Republican Congressmen are drafting it. Further details have not yet been provided given the sensitive nature of the topic.

According to the Cointelegraph, the bill is aimed at preventing cryptocurrency from being considered as “a form of security or an investment,” from being taxed, and from federal government interference.

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Potential interference has posed some issues in the past; in May 2017 the Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017 attempted to force cryptocurrency users who had more than $10,000 on their person to disclose it when going through U.S. customs. This posed a problem because cryptocurrencies like Bitcoin are always considered to be “on one’s person” since it’s all online.

Of course, people have also been skeptical of cryptocurrencies given the bad rap they often get due to underground payments being made for drug smuggling, human trafficking, and other illegal crimes. This is one of the biggest challenges, if not the biggestwhen it comes to people trusting cryptocurrencies and actually implementing the use of them wide-scale.

To mitigate the amount of illegal activity conducted using cryptocurrencies, users will need to meet a set of minimum requirements in order to be awarded with the benefits from this bill.

If you’d like to learn more about Bitcoin and the usage of cryptocurrencies, check out this CE article:

Is Bitcoin A Long Term Currency Solution? Here’s How It Works.

Previous Concerns and Scandals Surrounding Bitcoin

As previously mentioned, part of the concern the public has regarding Bitcoin and other cryptocurrencies relates to how they could aid illegal activities. The fact that many cryptocurrencies are extremely efficient, completely anonymous, and practically untraceable obviously bodes well for criminal activities. This has been a hurdle for both mainstream adoption and government intervention.

One such controversy occurred when a British model was kidnapped and almost sold on the dark web as a sex slave. The criminal involved was asking for payment in the form of Bitcoin, and police found proof that the kidnapper had auctioned off other women before the model.

The FBI has also reported on this issue, disclosing that cybercrimes were responsible for $1.3 billion in losses during 2016 alone. There was an increase in Bitcoin-related crimes, as many involved ransomware that would infect users’ computers and then hold users’ files as “ransom.” The hackers would then demand payment in return for their files, typically in the form of Bitcoin.

Earlier this year, Forbes actually reported: “On the contrary – the only reason Bitcoin has value to anyone is because of the underlying value as a medium of exchange for lawbreakers. If we could flip a switch and eliminate all illegal uses of Bitcoin, there would be nothing left of the cybercurrency.”

Final Thoughts

Does cybercurrency represent our future monetary system? Who knows! It certainly has the potential to replace physical money, but there’s no denying that there are many drawbacks as well. On the one hand, do you really want to be supporting something that is directly linked with criminal activities? Then again, the big banks and Federal Reserve are linked to some serious corruption, too.

Nevertheless, this bill represents an interesting opportunity to increase usage of cryptocurrencies, though only time will tell if cryptocurrencies will actually be adopted on a grand scale. The questions here are, do the benefits of using cryptocurrencies outweigh the disadvantages, and could they really revolutionize our monetary system?

 

 

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These days, it’s not just knowing information and facts that will create change, it’s changing ourselves, how we go about communicating, and re-assessing the underlying stories, ideas and beliefs that form our world. We have to practice these things if we truly want to change. At Collective Evolution and CETV, this is a big part of our mission.

Amongst 100's of hours of exclusive content, we have recently completed two short courses to help you become an effective changemaker, one called Profound Realization and the other called How To Do An Effective Media Detox.

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FBI Confirms Report of “Cylindrical” UFO “Moving Really Fast” Over New Mexico

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CE Staff Writer 4 minute read

In Brief

  • The Facts:

    The FBI has now confirmed that they are aware of the American Airlines pilot's UFO report. They did not say they are officially investigating the incident any further. The incident remains a mystery.

  • Reflect On:

    The increase in UFO coverage and reporting in mainstream media is raising public awareness about how prominent and well documented the subject is. What does the reality of the UFO phenomenon mean to you? Does it change your worldview?

Before you begin...

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Take a moment and breathe. Place your hand over your chest area, near your heart. Breathe slowly into the area for about a minute, focusing on a sense of ease entering your mind and body. Click here to learn why we suggest this.

On Sunday Feb. 21, 2021 a pilot on American Airlines flight 2292 from Cincinnati to Phoenix reported seeing a long cylindrical object fly very fast over New Mexico, reporting that it looked a lot like a cruise missile. Now, the FBI has confirmed that they are aware of the mysterious report but did not say whether they are investigating any further.

The pilots report, which can be heard here, went like this:

“Do you have any targets up here? We just had something go right over the top of us – I hate to say this but it looked like a long cylindrical object that almost looked like a cruise missile type of thing – moving really fast right over the top of us.”

Steve Douglass, an experienced radio interceptor, was the first to report on the incident and claimed he heard the pilot’s transmission while recording from his multiple scanners.

Initially, American Airlines did not confirm that they had information the incident had happened, but later on, they provided a different story to journalists at The Drive who pressed for more info.

American Airlines initial response:

“At this time, we do not have any indication the radio transmission was from the flight crew on board American Airlines Flight 2292 on Feb. 21,” an airline rep told the outlet initially.

American Airlines updated response:

“Following a debrief with our Flight Crew and additional information received, we can confirm this radio transmission was from American Airlines Flight 2292 on Feb. 21,”

On Feb. 25th, a FBI spokesperson Frank Connor told Fox News in an email that:

“The FBI is aware of the reported incident, […] While our policy is to neither confirm nor deny investigations, the FBI works continuously with our federal, state, local, and tribal partners to share intelligence and protect the public. Anyone who is aware of suspicious or criminal activity should contact their local law enforcement agency or the FBI,”

The Federal Aviation Administration did release a short statement regarding the incident as well:

A pilot reported seeing an object over New Mexico shortly after noon local time on Sunday, Feb. 21, 2021. FAA air traffic controllers did not see any object in the area on their radarscopes.

Up to this point this incident remains a mystery. It is unclear if further formal investigation is happening behind the scenes, but given what we’ve learned over our years of researching this subject, intelligence agencies tend to take these incidents significantly more seriously than they make the public aware of.

There has been a long term veil of secrecy surrounding the UFO phenomenon and only in recent years has the discussion turned more mainstream. It has been interesting to see further media publications pop up who are now taking this phenomenon a lot more seriously as well. This will continue to push this conversation into the mainstream over the course of time.

While it’s always intriguing to explore these new reports, there is decades of research and credible whistleblower testimony that fill in a great deal of ‘blanks’ when it comes to questions regarding the UFO and ET phenomenon. Indeed we know a lot more than what is being circulated in mainstream media at this time, and the phenomenon delves deeply into the field of consciousness research.

I recently received permission to release my full, raw, interview for the Dr. Steven Greer’s latest film ‘Close Encounters of the Fifth Kind.’ In it I cover my perspectives on discerning mainstream coverage of the UFO subject, the societal and cultural implications of the phenomenon, and what it means for humanity as a whole. You can watch the full interview exclusively on CETV.

Dive Deeper

These days, it’s not just knowing information and facts that will create change, it’s changing ourselves, how we go about communicating, and re-assessing the underlying stories, ideas and beliefs that form our world. We have to practice these things if we truly want to change. At Collective Evolution and CETV, this is a big part of our mission.

Amongst 100's of hours of exclusive content, we have recently completed two short courses to help you become an effective changemaker, one called Profound Realization and the other called How To Do An Effective Media Detox.

Join CETV, engage with these courses and more here!

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Global Food & Farming Issues: Dr. Vandana Shiva Slams Bill Gates, Mark Zuckerberg & Monsanto

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CE Staff Writer 3 minute read

In Brief

  • The Facts:

    Physicist, environmental activist and renowned author Dr. Vandana Shiva explains modern day global food and farming issues. There are links within the article to her very informative work.

  • Reflect On:

    When organic agriculture has shown to be the best way to feed the world, why do giant corporations insist on taking over and doing things their way? Why do they have so much sway over government policy?

Before you begin...

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Take a moment and breathe. Place your hand over your chest area, near your heart. Breathe slowly into the area for about a minute, focusing on a sense of ease entering your mind and body. Click here to learn why we suggest this.

Dr. Vandana Shiva is a renowned author, environmental activist, and physicist. Shiva founded Navdanya, an international movement started 30 years ago in India to defend seed and food sovereignty and small farmers around the world.  Navdanya pioneered the movement of seed saving and seed freedom, which began in response to the crisis of erosion of agricultural biodiversity and introduction of GMOs and patents on seeds through intellectual property rights (IPRs) and so-called ‘free trade’ agreements. It has long fought against biopiracy, the patenting of indigenous knowledge by self-interested multinational corporations and won cases related to Neem, basmati rice and wheat in India. Navdanya promotes a new agricultural and economic paradigm, a culture of food for health, where ecological responsibility and economic justice replace the present greed, consumerism and competition which have become dominant in society. It aims at regaining the common good as a foundation for a renewed sense of community, solidarity and culture of peace.

In the last 30 years, Navdanya’s research on Biodiversity based Agro-ecological farming has shown how Agroecology can increase nutrition and health, as well as farmers incomes while rejuvenating soil, water and biodiversity and enhancing climate resilience. They have a membership of more than 650,000 farmer families in 22 states of India. According to Navdanya:

The COVID public health crisis and its resulting economic devastation have accelerated calls to respond through the ‘Great Reset’ of capitalism through embracing the fourth industrial revolution. For food systems, this would mean a ‘food systems transformation’ where all areas of the food supply chain are further centralized, digitized, and mined for data in the false names of ‘public health’ and ‘economic recovery’. This push is now being supported by international organizations and world leaders who stand hand-in-hand with big corporations’ desires for further agrifood system concentration. This translated to a more aggressive push toward false solutions of farms managed through artificial intelligence and predictive algorithms, precision farming, fake foods- such as lab-grown meat, synthetically produced oils, and breastmilk- robot pollinators, biofortification, gene drives for more advanced forms of GMOs, and digital sequencing genetic information (DSI) of agro-diversity.

They recently put out a very informative report titled “Gates to A Global Empire.” Be sure to check it out. I suggest you read a recent article written by Dr. Shiva (her twitter account) titled, “Indian farmers’ 30 year struggle against corporate globalisation and 40 year struggle against the green revolution.” Her books are also a great resource documenting the takeover of seed and the immoral and unethical actions of big corporations, like Monsanto, in India and all over the world.

The clip below is from 2019 but it’s still very informative.

 

Dive Deeper

These days, it’s not just knowing information and facts that will create change, it’s changing ourselves, how we go about communicating, and re-assessing the underlying stories, ideas and beliefs that form our world. We have to practice these things if we truly want to change. At Collective Evolution and CETV, this is a big part of our mission.

Amongst 100's of hours of exclusive content, we have recently completed two short courses to help you become an effective changemaker, one called Profound Realization and the other called How To Do An Effective Media Detox.

Join CETV, engage with these courses and more here!

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‘Big Short’ Investor Michael Burry Warns Central Governments Could Squash Bitcoin

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CE Staff Writer 6 minute read

In Brief

  • The Facts:

    Well known hedge fund Michael Burry feels that Bitcoin could be squashed by the "legally violent, heartless central governments" who won't allow Bitcoin to stay decentralized.

  • Reflect On:

    Our societal structures, like the economy, are certainly in question as many continue to lose faith in them. Is the path towards a better future through cryptocurrency? Could humanity dream up a world without money?

Before you begin...

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Take a moment and breathe. Place your hand over your chest area, near your heart. Breathe slowly into the area for about a minute, focusing on a sense of ease entering your mind and body. Click here to learn why we suggest this.

You might remember the famed hedge fund manager Michael Burry from the film ‘Big Short,’ his character was played by Christian Bale. He is best known for forecasting the 2008 financial crisis, and he made billions from that bet. In a recent tweet, Burry has suggested that governments could “squash” Bitcoin (BTC) in a coming inflationary crisis due to further pandemic stimulus.

Burry also feels that further regulation of the decentralized currency could hamper BTC’s performance in the long term. With one of the main motivations behind cryptocurrency’s like BTC being that they are intended to operate outside of government control and regulation, you can bet that the millions who invest in crypto intend that it stays that way – out of the governments reach.

In a now deleted series of Tweets, Michael Burry stated some intriguing opinions about Bitcoin and potential government interventions:

I don’t hate BTC. However, in my view, the long term future is tenuous for decentralized crypto in a world of legally violent, heartless centralized governments with lifeblood interests in monopolies on currencies. In the short run anything is possible – why I am not short BTC.

Burry claiming he is not ‘short’ on BTC means he is not betting that its price will fall significantly anytime soon.

One of the major reasons Burry feels governments could squash BTC is due to coming inflation as a result of more pandemic stimulus. “In an inflationary crisis, governments will move to squash competitors in the currency arena. $BTC #gold,” he said.  As you can sense by Burry’s words, he feels governments will do anything in their power to maintain control over their own currencies, and protect them at all costs, regardless whether it’s what benefits people most or not.

In his recent string of tweets he discussed Germany’s path to hyperinflation in the 1920s. He currently sees America’s economic trajectory to be similar to the post-World War I climate that eventually led to a 320% monthly inflation rate in the country.

If Burry is right about the upcoming inflation and the governments potential regulatory actions on BTC, this will be the 2nd time in recent years that he predicted a seismic shift in the US economy.

“People say I didn’t warn last time, I did, but no one listened. So I warn this time. And still, no one listens. But I will have proof I warned.” – Burry said in a tweet.

Modern Structures Are Failing

This inevitably brings up the discussion of our current way of life when thinking about our societal design. Does a capitalistic economy really create a world where people can thrive? Does it inspire big business and governments to think about people’s well being first? Or does it motivate them to think of profits first? Perhaps it’s our underlying worldview of competition and separation that causes us to create society in this manner? Either way, history over the last 30 years has shown us that financial crisis’ are happening at a faster rate, each time pushing more and more people into a lower socio-economic class while the few become richer. Aside from available spending money, think of how this affects people’s basic ability to survive and enjoy life.

COVID-19 served to make billionaires even bigger billionaires, while the average person struggles to get a job, feed their family and make basic payments. Is this a world we want to live in? Does this truly feel like what we’re capable of or are we being convinced to accept something because someone said so?

Are we really to support the idea that governments should regulate cryptocurrency, a means of exchange that is outside their control? What’s the motivation behind their regulation? As faith in our institutions crumbles year after year, is the culture within governance feeling their increasing loss of power over the people?

I don’t intend to write a lengthy piece deeply exploring the ins and outs of our economic model and why it’s not serving the people, I’ll save that for another time. I sense that the questions I’ve posed will already bring up thoughts and feelings within you that tend to ‘know’ our current ways aren’t working to help people thrive, perhaps that’s enough.

Where I’m curious to push the envelope a little further is in the question of why do we believe that we need currency and exchange to begin with? Why must our economies work the way we do? Have we really chosen to ask this question? Or have we accepted the limited and dishonest historical belief that “we tried everything else and this is best?”

A radical idea to consider I know, but one I invite you to imagine for just a moment. Given all the the incredible technology we have available to us today, can we really not imagine a society where money is not required? Given the emerging information in post material science that is telling us a different story about the nature of humans, can we honestly say we are simply competitive and warring animals still?

For just a moment, set aside the judgements someone might cast upon you for considering that we could live in a world without money, things like “that’s socialism!” or  “That’s communism!” If you were tasked with the project of coming up with a way to live in our world without money, how might it look? How would we go about creating that type of community?

Aside from what we’re commonly told, human beings are incredible, with extraordinary abilities to connect, build community and solve problems. If we changed the conversation from “that’s never going to be possible” to “how might we actually go about doing this?” that innocent little shift allows us to be open, sense possibility and activate our creativity, even if it means we aren’t going to take action right away.

I’ve been doing this sort of work and asking these questions my whole life – professionally for 13 years – I don’t hold the naive position that all of this can just happen on its own or that we don’t require deep questioning of our current worldview, I recognize all of this is necessary. What I am saying though is, if we don’t begin to think and explore down this path, we can’t ever make things ‘better.’

So what are you choosing to do? Accept the world as it is today? Or are you open to imagining a world where people can truly thrive?

Dive Deeper

These days, it’s not just knowing information and facts that will create change, it’s changing ourselves, how we go about communicating, and re-assessing the underlying stories, ideas and beliefs that form our world. We have to practice these things if we truly want to change. At Collective Evolution and CETV, this is a big part of our mission.

Amongst 100's of hours of exclusive content, we have recently completed two short courses to help you become an effective changemaker, one called Profound Realization and the other called How To Do An Effective Media Detox.

Join CETV, engage with these courses and more here!

Continue Reading
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