Swift Ends Cryptocurrency Access to Global Marketplace
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SWIFT will now not course of forex transactions from financial institution accounts to crypto trade, with a price of fewer than 100,000 USD, efficient February 1st, 2023. The transfer is designed to scale back the entry of crypto traders which is a step towards what I’ve been warning that governments will NOT enable non-public cryptos to compete. Governments have managed official cash they usually have prosecuted those that dare to counterfeit their currencies. Even the Byzantine Empire would wage warfare to cease one other from even imitating their forex.
This can be a transfer that’s to open the door for presidency digital currencies and to progressively cut back the non-public crypto market. Imposing a $100,000 limitation will drastically cut back the flexibility to collect smaller traders. This can be attention-grabbing if January proves to be only a response excessive.
Simply as SWIFT eliminated Russia from their system once they refused to try this earlier than Biden, they’ve surrendered their independence and now take their order from governments. That is the preparation for the collapse of the Financial System.