The assault on digital currencies has been stepped up several gears it appears.
The source of the attack this time, is purportedly “neutral” Switzerland.
Neutral it seems in name only perhaps though.
When it comes to a currency which threatens the banking status quo, Banking-dominated Switzerland has very quickly “come down from the fence”, and has its “sights” trained squarely on digital currencies.
And in the following case, those sights are fixed on Bitcoin in particular.
The Swiss move follows several Bitcoin exchange websites being shut down in Russia, and the even more draconian decision of Ecuador in 2014, to outright ban all digital currencies, until such times as the Ecuador Central Bank introduces their own digital currency; the digital dollar.
Doesn’t that defeat the object of a “decentralised” digital currency in the first place?
But never mind, the new currency of course will receive full backing from the assets of Ecuador’s central bank!
But we all know how that story always ends.
In the meantime, according to a 6th May Reuters report, Switzerland’s financial market regulator says the virtual currency Bitcoin, needs to be treated as …
“ … a serious medium for illicit activity like money laundering.”
In a further use of yet another scary boogie man buzz word of course, the report goes on to darkly warn that …
“Bitcoin’s ability to be used anonymously and internationally, increases the risk it could play a role in terrorist financing.”
Of course, as always, the clue to the cause of the current currency conflict, lies in the respective names of the two characters involved, in this struggle between freedom and tyranny.
Digital currencies are all about being a “decentralised” medium of exchange, and Central Banks are all about being … well … “centralised.”
So it’s no great mystery why the all-powerful, omnipotent Central Banks and their army of regulators are insisting that digital currencies comply with their extinguishing wishes.