Freddie New
@freddienew
Followers
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Following
2,494
Media
1,045
Statuses
11,390
General counsel @thelittlecar_co | Head of Policy, @bitcoinpolicyuk | CoFounder @IcdefResearch #npub1wl39ydk5rpecvtrzhq67afl9ykn2ty2xdxdkfmyan0rss3f3ma5sndznlx
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Pinned Tweet
🚨 Public Service Announcement for UK
#Bitcoiners
! 🚨
You may be aware that owing to the erroneous categorisation of
#Bitcoin
by
@TheFCA
(which
@bitcoinpolicyuk
and the majority of the industry strongly argued against), exchanges in the UK are bringing in new ‘customer
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If, like many of us, you feel a bit taken aback by events of the past week in
#Bitcoin
, you may be wondering about what you can do, practically, to maintain your ability to transact freely and to preserve your privacy.
Whatever the enemies of freedom may tell you, in free and
This week may feel very very dark for
#Bitcoin
and for those who believe that all people, everywhere, should be able to transact freely with each other, as one of their most basic freedoms.
But know that this fight was always coming; and we would not be facing it right now if
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2K
@SenWarren
these are my daughters, flipping a coin to generate a 256 digit binary number. We converted this to hexadecimals, generated a bitcoin private key, and created a wallet. No KYC was, or will ever be, required.
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Dear
@SenWarren
,
Many in the
#Bitcoin
community will have read your letters, sent to
@BlockchainAssn
, to
@coincenter
, and to
@coinbase
. We include an example in the thread below.
However, not many of us realised at first that you had cunningly hidden a
#Bitcoin
address in the
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I am not mentally prepared to deal with videos from the World Economic Forum that promote the positive social and sustainability benefits of
#Bitcoin
mining.
The cognitive dissonance is too much.
Is this the turn of the tide?
₿𝗥𝗘𝗔𝗞𝗜𝗡𝗚: World Economic Forum reports bitcoin mining is helping protect endangered animals in Congo’s national forest.
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It's as negligent for a nation not to have a
#Bitcoin
strategy today as it would have been to ignore the internet in 1994.
The UK is the third largest nation state holder of Bitcoin, with over 61,000 coins. Nearly five million UK citizens are thought to hold Bitcoin.
And the
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It is both terrifying and uplifting that most users of this platform appear to understand money creation, currency debasement and the role played by central banks better than a man who was the chief economist and economic adviser to Vice President Joe Biden under Obama.
He is
This is absolutely priceless. And probably the most frightening clip you'll ever watch on the people in charge of the US economy.
Jared Bernstein is literally the Chair of the Council of Economic Advisers, the main agency advising Biden on economic policy
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I'd suggest speaking constructively with your colleague
@SenLummis
, with
@GOPMajorityWhip
or with
@WarrenDavidson
- or with
@Dennis_Porter_
if your goal is genuinely to protect the interests of United States citizens and to preserve their First Amendment rights at the same time.
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This needs to be taken seriously but, as always, it's crucial to read the text of the actual legislation. TLDR Self-custody is not illegal:
1. This is a prohibition of anonymity, not of
#Bitcoin
. If you are able to prove eg through signing a message, that you control the keys to
Payments to “unhosted” / self-custody
#bitcoin
and crypto wallets are now illegal
How on earth are they going to police that?
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"It should not be controversial to affirm that UK citizens ought to have the right to spend their own money freely from their bank accounts for any lawful purpose".
Buying, owning and selling
#Bitcoin
in the UK is lawful. It's government policy to make the UK a 'crypto asset
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When I was a junior lawyer at a Big Law firm, my peers and I often used to wonder how the partners could treat us as they did. Sometimes, I’d arrive at the office on Monday, and not leave the building till Thursday, sleeping one or two hours a night on the floor under my desk, or
“The truth is that, whether the crypto is encased in a nice regulated wrapper and sold to you by
@BlackRock
, or whether you buy it from a pastor who says that the Lord told him to make the sale, there is still no there there,” writes
@jemimajoanna
. 🔐
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@GreenpeaceUK
If Greenpeace hadn't campaigned against nuclear for so long, there's a good chance we wouldn't be in the current mess we find ourselves in. It's ironic that you may be directly responsible for us missing the 1.5 degree target.
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This week may feel very very dark for
#Bitcoin
and for those who believe that all people, everywhere, should be able to transact freely with each other, as one of their most basic freedoms.
But know that this fight was always coming; and we would not be facing it right now if
On May 3rd, 2024,
@PhoenixWallet
will be removed from US app stores.
Users from the US should empty their wallet:
- Settings > Close channels (Android)
- Settings > Drain wallet (iOS)
We highly recommend *not force-closing* channels, as on-chain fees could be significant.
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This is hilarious - the
@ecb
is being community-noted to explain that the Euro lacks three of the characteristics of money 😂😂😂
🇪🇺
@Isabel_Schnabel
: The digital euro is public money issued directly by the European Central Bank. Bitcoin is different – it is a speculative asset that does not fulfil the characteristics of money.
#AskECB
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@Ayegill
There's supposedly a hill in Cumbria called 'Torpenhow Hill'. Tor - old English hill. Pen - Celtic hill. Howe - early middle English hill. Hill - modern English. Basically 'Hill hill hill Hill'.
Imagine how it feels.
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Dear
@joshdarcher
and
@CleanUpBitcoin
,
I had intended to DM you, but I’m using an open format instead as your DMs don’t appear open. Excuse the long form approach, but there’s a lot to cover here (but a lot of common ground).
Introduction first: I’m a lawyer, based in the UK.
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Using Bitcoin, they can now freely transact with anyone in the world, on a borderless and permissionless digital network. No one can stop them, and no one can censor their transactions.
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@MartinSLewis
@bbc5live
Read as much as I could about the credit theory of money and the quantity theory of money, and found ways to protect myself and my family from the pernicious effects of the dilution and debasement of national currencies by the misguided policies of government & central banks.
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@VoicesByZane
Also simply noting that diesel is a much better bet than petrol for longevity. Some diesel engines will even run on cooking oil (with modification and not v well, mind you)
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Please, before wasting valuable congressional time on drafting unenforceable legislation, meet with people such as
@jackmallers
,
@saylor
,
@anitaposch
or
@jack
who know how Bitcoin functions, and what a valuable tool it is for financial freedom & fighting oppression or censorship
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Whether or not a
#BitcoinETF
is approved in the US, at present UK retail investors are unable to invest in such products - even if they are provided by legitimate and highly regulated entities.
We at
@bitcoinpolicyuk
acknowledge that although
#Bitcoin
is uniquely placed to offer
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This is pretty outrageous behaviour from
@newscientist
. Yesterday, they published an article that included inaccuracies. The article received a community note.
Instead of revising and reviewing the article, and engaging with the new evidence, they have now reposted to dodge
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Wow - I am a little overwhelmed at the reaction to a post about proposed legislation,
@SenWarren
, and my kids and I tinkering with computers.
This is a quick 'thank you' and 'welcome' to new followers. Intro: I work on
#Bitcoin
advocacy in the UK with
@bitcoinpolicyuk
, and tweet
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Worldwide outages at banks, airlines and media outlets. Planes grounded, channels off air, payments stuck.
But
#Bitcoin
and Lightning ⚡ continue working regardless.
99.989 uptime since 2013, in the face of relentless attacks.
Onwards.
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As we digest the past week in
#Bitcoin
, have a read of 'A Cypherpunk's Manifesto'. As important today as it was thirty years ago.
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April 2022: UK govt announces plans to 'make Britain a global hub for cryptoasset technology' (admittedly without any focus on
#Bitcoin
, but give them time).
Summer 2022:
@TheFCA
erroneously (in our view) categorizes Bitcoin as a 'restricted mass market
It's happening - firms are choosing not to service UK customers. So much for the UK as a 'crypto hub'.
In our recent response to the proposed classification of
#Bitcoin
as a restricted mass market investment by
@TheFCA
, we at
@bitcoinpolicyuk
predicted that firms would simply
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I'm not quite sure why we need to repeat this, but the authors of this paper (1) do not know what they are talking about and (2) are not qualified to say anything authoritative about
#Bitcoin
at all. They're the same two fellows that declared
#Bitcoin
dead in November 2022.
Bitcoin has failed to become a global decentralised digital currency, instead falling victim to fraud and manipulation.
The recent approval of an ETF doesn’t change the fact that Bitcoin is costly, slow and inconvenient, argues
#TheECBBlog
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Dear Andrew Bailey,
I hope you will concede there is a little irony in stating that the integration of
#Bitcoin
into the global financial system has stalled - on the very same day that some of the largest asset managers in the world take steps, via the launch of
#BitcoinETFs
in
Advocates are right in calling this a “game changer” for
#crypto
as a financial asset/investment, though not as a potential global currency.
This
#SEC
decision will do more than deepen and broaden participation in
#Bitcoin
#investing
. It will also help in countering legitimacy
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While I respect that
@MartinSLewis
does not want to advise on
#Bitcoin
,I'd suggest that looking at the nature of *money* itself might well be something he could do in more depth (Btw Martin - remember St Stephen's Avenue? We met there a really long time ago...).
Really, the only
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@Modhabobo
Rob is also following Orwell's rules for writing good English, using the Anglo-Saxon instead of the Latin derived words:
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@adam3us
@MerrynSW
@SewerBadger2140
I love that they refuse to talk to someone whose work was so influential in the origin story that he's actually cited in the white paper (and who corresponded with Satoshi before the code was published) simply because of a profile picture.
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🚨 Attention UK
#Bitcoin
holders! 🚨
If any of you have had trouble buying Bitcoin (banks declining transfers or blocking accounts), look into getting a
@CoinCorner
e-money account.
It's in your own name, and transfers to this account appear simply as transfers to yourself.
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@AntonHand
In fairness, Windows 11 has also made it impossible to find files and folders on your own computer.
Quite often, Explorer simply won't open either. I keep a hammer by my desk and a supply of fresh laptops for moments like this.
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Oh. Whoops.
@newscientist
looks like your new post on
#Bitcoin
has also received a community note?
Perhaps next time, try engaging in good faith with all those who provided you with evidence and peer-reviewed research that gave a different view from the article. You had an
This is pretty outrageous behaviour from
@newscientist
. Yesterday, they published an article that included inaccuracies. The article received a community note.
Instead of revising and reviewing the article, and engaging with the new evidence, they have now reposted to dodge
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@pronounced_kyle
@tombeckenham
Second book 😉. Restaurant at the End of the Universe. Great post btw.
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@amateuradam
Have you ever spent 50 bn not to build a railway though?
How about 120m to send one person to Rwanda?
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Hey
@harari_yuval
- there is a key semantic difference between 'distrust' and 'trustlessness'.
As I explained to you in the post below, there is no need for 'trust' in the
#Bitcoin
system at all, because the entire system - its code, its transaction history, its methods of
When I say that Bitcoin is a currency of distrust, I'm just repeating what Bitcoin fans themselves say. There may be good reasons not to trust the banks and governments that create dollars, yens, and other currencies – but that doesn’t change the fact that the preference for
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This is the Governor of the Bank of England.
He thinks your wages are too high.
What else would you like him to tell you that you can and can’t do with your money? Should we let him create a
#CBDC
? Thread 1/9 👇🧵
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@IanDunt
I think he actually means that he wanted to 'get Sky' but Rupert Murdoch turned down his corporate takeover offer.
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Yesterday,
@RossjournoClark
published an article in the
@spectator
with the title “Bitcoin is now a threat to us all” (first image below).
Interestingly, if you look at the page today, the title of the article has now been altered, to read “The next Bitcoin bubble will be the
bitcoin-pushers are at it again in response to my latest piece
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Method to create a
#WarrenWallet
:
1. Select a certain number of words from
@SenWarren
’s letter
2. Feed them into the wallet generator here:
3. Enjoy your new
#Bitcoin
wallet thanks to the Senator!
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Are YOU like
@SenWarren
, and confused by ‘sophisticated technologies’, like dice, coins, paper, and pens?
If so, DON’T PANIC. Follow the simple steps below, as my two young kids show you how to create a non-custodial
#Bitcoin
wallet in the comfort of your own home, using these
@SenWarren
these are my daughters, flipping a coin to generate a 256 digit binary number. We converted this to hexadecimals, generated a bitcoin private key, and created a wallet. No KYC was, or will ever be, required.
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You may have seen the clip of
@SteveBakerFRSA
doing the rounds this weekend. You may have laughed or dismissed his comments, perhaps because you disagreed with him on Brexit. But if you did so, please listen again, because what he's saying is important:
"Your government rode an
Steve Baker, on national TV, attacking both George Osborne and Ed Balls for expanding the money supply while constraining the supply of new housing (thereby leading to spiralling house prices and rising asset inequality).
He's right!
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No – it’s never ‘time to gamble on
#Bitcoin
’.
🚨A health warning🚨! We’re going to see a lot of these headlines as the price spikes. Unfortunately, the price is almost always what attracts attention.
By all means, get curious. But I’d exhort you not to dive in because of price
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@qldgarden
@pronounced_kyle
@tombeckenham
Correct, they were on the ship too. I just checked the source.
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We at
@bitcoinpolicyuk
are delighted to hear of
@UKLabour
's plans to create a National Wealth Fund.
We recommend exactly such a step at the conclusion of our new paper, published today, on the way in which
#Bitcoin
mining may be utilised to support, develop, and monetise
🚨BREAKING: We are creating a new National Wealth Fund
This Fund will help get the economy growing by:
📈Unlocking investment
💼Supporting thousands of jobs
🇬🇧 Making every part of the country better off
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Hi
@newscientist
- we're sorry that your journalist Matthew Sparkes () has chosen to block a number of us from the
#Bitcoin
academic and environmentalist community who were engaging in good faith with him in response to a recent article.
He is of course
Dear
@joshdarcher
and
@CleanUpBitcoin
,
I had intended to DM you, but I’m using an open format instead as your DMs don’t appear open. Excuse the long form approach, but there’s a lot to cover here (but a lot of common ground).
Introduction first: I’m a lawyer, based in the UK.
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We might all have been amused to see yet another establishment institution get ‘Community Noted’ (in this case the
@ecb
, which has published yet more misinformation about
#Bitcoin
).
One of the finest notes, copied in the thread below, included links to many academic papers
Bitcoin has failed to become a global decentralised digital currency, instead falling victim to fraud and manipulation.
The recent approval of an ETF doesn’t change the fact that Bitcoin is costly, slow and inconvenient, argues
#TheECBBlog
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"CBDCs decrease the cost of authoritarian enforcement for governments. At the moment, I may have six or seven bank accounts. If the government want to cut me off from the financial system, they have to write to six different banks, get a bunch of different court orders....with a
Watching the ECB shove its CBDC down the throats of a public that has clearly and repeatedly said that they do NOT want it has been a sight to behold.
Everyone should be paying attention to the how the digital euro is slowly being rolled out against the will of the people.
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CALL TO ACTION!
@bitcoinpolicyuk
have just submitted our consultation response to the European Securities and Markets Authority on the sustainability credentials of
#Bitcoin
mining. But now we need YOUR help.
ESMA and the EU are still labouring under the misapprehension that
Plebs, Bitcoin miners, human rights defenders unite!
The European Commission (EC) is about to take a draconian and unscientific stance towards Bitcoin that can not only pave the way for an EU mining ban, but could have far-reaching consequences for the entire global Bitcoin
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This picture says everything you need to know about the state of the UK.
Cold, and wet, and tired, and angry.
Our schools and health services are collapsing. Our rivers are full of sewage and faeces. Our roads are literally washing away in the rain.
But it doesn't have to be
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“The freedom to transact is not an obvious freedom. We all think about freedom of speech, or freedom of association, but without the freedom to transact, my view is very much that the other freedoms don’t really exist. It underpins all the others and enables them to exist.”
This
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@newscientist
Looks like they have reposted this without the community notes,
@nic__carter
. You know what to do!
@DSBatten
and
@level39
- pretty sneaky play here. A repost of the same article so as to dodge the community note. This feels like an affront to the scientific method.
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Huge privilege to be invited back on
@WhatBitcoinDid
and great to chat with
@PeterMcCormack
and
@_DannyKnowles
again. Less classic car chat, and fewer 80's movies; a lot more about the regulatory fight in the UK (if you prefer
#Bitcoin
to Arnie movies, though I love both).
WBD799 - Defeating the Regulators with
@freddienew
. We discuss:
- Why
#Bitcoin
restrictions backfire
- How to change minds on Bitcoin
- Supporting better UK policy
- Our Bitcoin allies & how we win
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@nathan_day
@bitcoinpolicyuk
@SenWarren
@sambonzuki
I hope he gets preferential treatment in his application for his money transmission licence; this node is a lot better looking than the bashed around box under our TV!
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Preventing customer harm is supposedly a key mission for
@TheFCA
. But every day, their policies cause more and more harm - to individuals, to the exchequer, and to the UK's international reputation.
Here, we have yet another international business withdrawing products and
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⚠️Attention UK
#Bitcoiners
! ⚠️
Looks like if you want to move your
#Bitcoin
from
@RevolutApp
you will now be subject to interrogation (noting this also for
@CryptoUKAssoc
and the
@cryptoappg
, plus
@BimAfolami
should be aware).
This is relevant to our previous discussions on
Heads-up,
@freddienew
I made a sizeable purchase and withdrawal on
@RevolutApp
recently (
@CoinCorner
wasn’t working, sorry) and I’ve now been required to tell Revolut where I sent the sats: exchange, hardware wallet, something else.
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No payments issues are affecting
#Bitcoin
or the lightning network. Not even micropayments are being delayed. We are working.
A global payments issue is affecting the Bank of England’s CHAPS service and delaying some high value and time-sensitive payments. We are working closely with a third party supplier, industry and other authorities to resolve the issue.
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I genuinely thought this was a parody headline. But no, this is real. And it could not be a more brutal illustration of the most fundamental, obtuse inability to understand what is wrong with our monetary system, and with our society in general, from the mouth of the man who is
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We know that
@rachelreevesMP
and
@Keir_Starmer
have a serious problem on their hands. A £22 billion black hole in the public finances, we’re told. Tax hikes and cuts to public services are both likely.
But they also have 61,000 Bitcoin.
A thought experiment - hole filling in
We are under no illusion as to the scale of the challenge we have inherited from the Conservatives after more than a decade of low growth and a £22 billion black hole in the public finances.
That’s why we are taking the tough decisions now to fix the foundations of our economy.
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It was a huge honour for
@bitcoinpolicyuk
to assist in organizing this event with
@HRF
and Thomson Reuters.
A genuinely inspiring afternoon listening to speakers from across the world, using
#bitcoin
in the toughest of circumstances to fight oppression and tyranny, as a
Today, HRF hosted an event in collaboration with Reuters at their headquarters in London.
The gathering brought together NGO leaders, human rights advocates, and policymakers to explore the integration of Bitcoin into their work, including grant-making, commerce, and activism ⚡️
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Terry Pratchett wrote: “Most witches don’t believe in gods. They know that the gods exist, of course. They even deal with them occasionally. But they don’t believe in them. They know them too well. It would be like believing in the postman.”
Trust or belief are only necessary in
JUST IN:👀 WEF member Yuval Noah Harari contradicts himself and gives one of the best reason to own
#Bitcoin
🔥
"We don't trust the banks, the governments, so we don't want to give them the ability to create as much money as they like, so we create this Bitcoin."
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The Wall Street Journal covers Donald Trump's proposal for a US
#Bitcoin
stockpile.
Kamala Harris signals a change in policy toward the industry.
The US is seriously considering its strategy here.
The UK needs to do the same,
@RachelReevesMP
and
@TulipSiddiq
!
It's as negligent for a nation not to have a
#Bitcoin
strategy today as it would have been to ignore the internet in 1994.
The UK is the third largest nation state holder of Bitcoin, with over 61,000 coins. Nearly five million UK citizens are thought to hold Bitcoin.
And the
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🚨PSA for UK
#Bitcoin
holders (and potentially others as well) 🚨
You may have seen exchanges asking you more and more questions as you try to withdraw your coins from your accounts into your own wallets. Some examples are listed below – from
@Gemini
and from
@RevolutApp
.
⚠️Attention UK
#Bitcoiners
! ⚠️
Looks like if you want to move your
#Bitcoin
from
@RevolutApp
you will now be subject to interrogation (noting this also for
@CryptoUKAssoc
and the
@cryptoappg
, plus
@BimAfolami
should be aware).
This is relevant to our previous discussions on
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Thanks to the UK Cryptoasset Business Council
@UKCBC1
(and to
@JacobiAssetMgt
!) for the invitation to the UK CBC parliamentary reception last night. Great to chat to so many varied people across the industry, and in particular to catch up with the City Minister
@BimAfolami
as
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Q: What do the authors of this
@ecb
paper have in common with the UK's Trident missile system?
A: None of them work, and they can't be fired.
Bitcoin has failed to become a global decentralised digital currency, instead falling victim to fraud and manipulation.
The recent approval of an ETF doesn’t change the fact that Bitcoin is costly, slow and inconvenient, argues
#TheECBBlog
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What is a
#CBDC
for?
Response: "Look um, what's it for? It's to keep track with the reality of how we all um, we all purchase and and save and, and do our work with our goods."
Aside from the fact that this is utter rubbish (no one in the UK is currently using a
#CBDC
, thank
Are YOU convinced by this answer?
“What is a
#CBDC
for?”
@danny__kruger
asks the Treasury one simple question about the use of a digital pound.
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Meetings in the City on
#Bitcoin
business today. This may be the Bank of England, but the statues half way up have clearly put in the work. Even
@DzambhalaHODL
might be impressed
#ProofOfWork
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Back in Parliament this evening for what was a really excellent and in depth discussion with the
@cryptoappg
(many thanks to them and also to
@CryptoUKAssoc
for the invitation! It's appreciated). More details to come.
Did I miss anything?
Has
@coinbase
gone down, for example?
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I'm both pleased (and slightly surprised) to have been invited to speak at next week's event.
We'll be articulating as clearly as we can why we believe that a
#CBDC
is a solution in search of a problem, and setting out the very real concerns that we - and the general public -
With only 100 tickets available for our upcoming debate "The Great Debate: Central Bank Digital Currencies, Privacy and Identity" be sure to register your interest ASAP 👉
...
#London
#DigitalMoney
#Privacy
#Digitalidentity
#CBDC
#Stablecoin
#Crypto
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Remember - if
#inflation
sits at 4%, it takes just 18 years for HALF of the purchasing power of your money to be destroyed. If you don't find a way to protect yourself, then in less than 2 decades, your £100 of savings will only buy £50 worth of today's goods.
Opt out!
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So it looks as though we may get
#Bitcoin
ETFS in:
- The US
- The EU
- Hong Kong
- Australia...
But not in the UK, thanks to
@TheFCA
.
The 'crypto hub' doth protest too much, methinks.
Lots more work for us to do,
@CryptoUKAssoc
and
@cryptoappg
!
Whether or not a
#BitcoinETF
is approved in the US, at present UK retail investors are unable to invest in such products - even if they are provided by legitimate and highly regulated entities.
We at
@bitcoinpolicyuk
acknowledge that although
#Bitcoin
is uniquely placed to offer
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I always find it astonishing that
#Bitcoin
has done this in the face of relentless and vicious attacks, from the most powerful people and entities in the world.
Governments, banks, politicians and regulators - all have warned us off, all told us to stay away; and all were
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This will surely go down as one of the absolute worst takes on anything in human history since the emergence of our species, and this chap deserves to be roundly mocked for it for the rest of his natural life.
One year ago
@PeterZeihan
said
#Bitcoin
was going to zero then below zero.
#Bitcoin
has nearly tripled since then.
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My dear friends
@CommunityNotes
,
@level39
and
@DSBatten
; in the midst of the current excitement,
@newscientist
have reposted the inaccurate story again. I feel that this one too deserves a community note?
Bitcoin currently consumes 0.7 per cent of all electricity generated worldwide, and developers seem unwilling to change how it works. But enforcing changes is far from easy
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Two of the three authors of the
@ecb
blog post below were the very same galaxy-brained chaps who wrote the piece entitled "
#Bitcoin
's last stand", on 30 November 2022, which (if you remember) was the absolute bottom of the bear.
Takeaway: they have no idea what they are talking
A digital euro will be designed for making payments, not for investment, explain Ulrich Bindseil, Jürgen Schaaf and Executive Board member Piero Cipollone. Fears of bank customers moving large deposits from banks into the digital euro are outdated.
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@FelicityHannah
Hi
@FelicityHannah
- appreciate the post. I've been reading your work on Bitcoin for a long time. I think the evangelism may be partially explained by the fact that it's not actually about Bitcoin at all, but the problems of the financial system itself:
No – it’s never ‘time to gamble on
#Bitcoin
’.
🚨A health warning🚨! We’re going to see a lot of these headlines as the price spikes. Unfortunately, the price is almost always what attracts attention.
By all means, get curious. But I’d exhort you not to dive in because of price
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🚨UK UPDATE: 🚨
Has your exchange started asking you more questions when you transfer your
#Bitcoin
into your own custody?
Some users of
@krakenfx
in the UK have reported receiving emails like the one below.
We surmise these requests are connected with the Financial Action
NEW: 🇬🇧 UK regulators have started sending out emails asking for “up-to-date information” about the activity of self-custody wallets 😮
The following was received by a Kraken user 👀
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We agree with
@BigBrotherWatch
that “it’s puzzling … the Government is pushing ahead with plans to pilot a digital pound despite failing to explain to the public or parliament why one is needed.”
We also note that in the Bank of England’s official response to the public
🚨 Today the Treasury & Bank of England responded to the public consultation on the introduction of a UK
#CBDC
, which over 50,000 of you took part in.
“It’s puzzling that the Government is pushing ahead with plans to pilot a digital pound despite failing to explain to the public
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At the same time as
@RachelReevesMP
announces potential cuts, tax rises and infrastructure project cancellations, the UK and
@UKLabour
bravely continue to ignore a growth industry on which the rest of the world is now looking with envious eyes.
We may still have an opportunity
FORBES: “We are witnessing game theory play out in real-time, as nations and organizations adapt to the growing significance of
#bitcoin
in the global financial system.”
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There's no way out of this other than by printing money. LOTS of money.
UK borrowing hits £3.1bn last month, and we spent £7bn on debt interest alone.
If we keep this up, we'll spend 84 bn on debt interest this year. By comparison, we spend just over 100 bn on education.
You may have seen the clip of
@SteveBakerFRSA
doing the rounds this weekend. You may have laughed or dismissed his comments, perhaps because you disagreed with him on Brexit. But if you did so, please listen again, because what he's saying is important:
"Your government rode an
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@BetterMarkets
@SECGov
Guys,
@BetterMarkets
- this is just embarrassing now. You have fixed the date, but your new version of the letter still refers to
#Bitcoin
in 2002. It didn't exist then. Please could you correct this for the
@SECGov
and send in a third version? Or you could just not bother any
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@RossjournoClark
Ross, you can't even get elementary things right like 'the price of Bitcoin in July 2021'. I highly doubt there is any value in your piece for Bitcoin-pushers.
Oh great, there's more. Maths, numbers and simply 'looking up facts' seem to be beyond the ken of
@RossjournoClark
. This article is from May 2022, making 'last July' 2021. When he says the 'peak' was '31,776'.
In what currency? In what universe? Look at the historical chart -
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And yet the value of the UK's
#Bitcoin
holdings increased by nearly $1.4 billion dollars last year, simply by them doing nothing.
How much more valuable would these holdings become if the UK decided to embrace Bitcoin, and not waste time and money attacking it?
Next week Rachel Reeves will reveal an enormous funding deficit for core public services, having instructed Treasury officials to ask each department to list services that aren’t being financed adequately or are in danger of collapse or where there is some other hidden liability.
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We need to wake up in the UK and realize how the rest of the world sees us in relation to
#Bitcoin
While ministers stand up in Parliament and trot out the 'crypto hub' line, this is the view of one of the most prominent voices in the global
#Bitcoin
space.
We must change this.
This is the global perception of our ‘crypto hub’ goals.
@10DowningStreet
@RishiSunak
@Keir_Starmer
@CryptoAPPG
@APPG_Blockchain
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