In Defense of Blockchain

The fact that the government has not only attempted to outright ban cryptocurrency but has also engaged in legal action against major players like Coinbase merely for publishing wallet software, is a glaring demonstration of their intent.

It's no mere coincidence that the government has targeted almost every large exchange, complicated the processes of custody, trading, and obtaining bank accounts for crypto companies, and delayed the acceptance of Bitcoin ETPs (Exchange-Traded Products) for over a decade—a delay ultimately called out by the courts as unjustified.

They’re even targeting decentralized exchanges (DEXs) like Uniswap.

These actions collectively represent a significant infringement on rights to freedom of speech and association. These are the same people who restricted our ability to move freely or conduct business for well over a year! The entire Covid debacle told you everything you need to know regarding the government's stance on limiting freedoms. 

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And now President Biden, following Canadian Prime Minister Trudeau’s lead, is attempting to double the capital gains tax rate to almost 45%. All this, so he can send your money overseas as America’s infrastructure worsens.

They don’t want you healthy. They don’t want you rich. And they certainly don’t want you free.

Amid this backdrop, Brian Armstrong and Coinbase have been bravely fighting back.

The US Court of Appeals for the Second Circuit has recently ruled in favor of Coinbase, asserting that the secondary sales of cryptocurrencies on its platform do not constitute securities transactions under the Securities Exchange Act.

This represents a significant victory for both Coinbase and the broader crypto industry, as it challenges prevailing assumptions about the regulation of digital assets.

This development, largely unreported by mainstream media, highlights the sound legal framework companies like Coinbase operate under. Judges are ruling based on proper understanding of the law, not political ideology. 

The need for more concerted action and awareness is clear. This isn't just about legal or financial advice; it's about a concerted effort to safeguard inherent freedoms.

One of the best ways to do this is by adopting blockchain and cryptocurrencies.

By embracing a system that operates outside of the corrupt political and banking establishments, one engages in a peaceful yet powerful protest against the prevailing order.

One that can also make you a lot of money.

Keep coming back,

Chris Curl

Chris Curl
Editor, Daily Profit Cycle