In recent hours the Bitcoin price action lost the support of $30,000, the unusual thing about this behavior is that this setback occurs after the spokespersons of the Department of Justice of the United States of America, an element that denotes a potential and well elaborated strategy to affect the cryptocurrency market.
According to multiple cryptocurrency news portals, the main recommendation offered by Merrick Garland, who is currently serving as U.S. Attorney General, is that states should work with strong international cooperation to regulate Bitcoin and the entire cryptocurrency sector.
One of the arguments that caught my attention is that the prosecutor states the need for both domestic organizations in the United States of America, as well as foreign entities in charge of preventing crimes, to work in a coordinated manner in order to exercise an adequate regulation of the cryptocurrency market.
In the words of Merrick Garland, the Department of Justice's efforts are aimed at determining how best to strengthen international cooperation in regulating activity within the cryptocurrency market, as the idea is to expand operational capacity and close regulatory gaps on a global scale.
From my perspective, even though I agree with the need to establish some mechanisms that tend to bring order to the cryptocurrency market, I believe that these actions led by the Department of Justice of the United States of America pursue a malicious purpose that aims to undermine the growth of the cryptocurrency market.
I would like to know your opinion about what is being discussed here.
SOURCES CONSULTED
Coindesk US Justice Department Urges More Coordination to Combat Crypto Crime. Link
OBSERVATION:
The cover image was designed by the author: @lupafilotaxia, incorporating image: Criptonoticias
Hello @lupafilotaxia, Well, I do believe that it is very possible that there are plans to undermine or destroy any possibility of rising BTC prices as retaliation for the possibility that it has not managed to control this cryptoactive market as many governments have stated.
This is not a central bank of a country, we are talking about an economy based on protocols that are outside the direct reach of a government used to controlling, manipulating and strangling the markets in its favor.
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Hello friend, many governments, mainly the US government want to regulate cryptocurrencies, it is not unreasonable to think that they are behind the manipulation of prices to force regulations, I am in favor of a legal framework that protects investors from scams and other crimes, but to impose regulations that undermine the freedom of this space is to go against its fundamental principle.
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Greetings @lupafilotaxia
I particularly think that are actions that the crypto market is suffering, as the loss of almost 100 % of the cryptocurrency Luna , are strategies of some governments that do not want to consolidate cryptocurrencies as they do not have full control, and are doing their best to collapse to enter and have control, before they did not believe in them now it is a reality.
Thank you very much for sharing your published .
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You've got a free upvote from witness fuli.
Peace & Love!
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Hi @lupafilotaxia
I particularly believe that even the fall of Terra Luna was something planned, and that everything is coordinated to try to limit the growth of cryptocurrencies, as they are gaining a lot of ground, and the dollar is losing it.
We must recognize that there are certain vices of traditional finance that have moved to the crypto environment, but it does not mean that they were born in cryptocurrencies.
This is an attack that will not stop, and that can affect a lot, especially if we add everything that is happening, such as war, pandemics, among other things.
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Hello @josevas217
Exactly the case of Terra LUNA is something that generates suspicion, it was also a way to damage the cryptocurrency market giving it a bad image, and as you rightly mention this kind of attacks are not going to stop, the important thing is that we can circumvent all these attacks.
Best regards, be well.
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Some certain words I am about saying has already been said here. Irrespective of everything we all should clog together and fight this. All these are strategies to give cryptocurrency a bad painting so that they can go ahead controlling it. Irrespective of this, cryptocurrency will and must stand.
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Crypto space is so wild that without these regulations, surviving here will be near impossible. I think the government stepping in is a good stuff, I've always been pro-regulation, it is important if not excessively done.
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Bitcoin can not be regulated because the project is not even owned by anyone. As for other projects, they are possibilities that can be regulated since its owned and this projects have a face
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Well... that's how crypto markets function... with all the chaus watched by the regulators...
I don't want regulation that makes our crypto life like hell as has happened with India...
Also every DEFI app I open they have terms and conditions that if your resident of US, you can't use it!!!
Sucks man!!
Where is the freedom, crypto world offers???
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Regulation are no bad idea but these official paint the crypto space bad which is bad for adoption those with little knowledge about crypto space have the notion of crypto used to fuel laundering activities.
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