Crypto CRACKDOWN?! What The G20 Is Planning Will SHOCK You!
Published: 2023-08-17
Status:
Available
|
Analyzed
Published: 2023-08-17
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
The FATF is predicted to actively enforce crypto regulations.
"the fat F would eventually start gnashing its teeth for crypto related reasons"
Pending
Pakistan and Kuwait banned crypto due to FATF pressure.
"over the last four months Pakistan and Kuwait have reportedly banned crypto because of the fat f"
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The UAE was added to the FATF grey list, potentially due to its pro-crypto stance.
"the UAE was also put on the fat F's gray list early last year possibly in part because of its pro-crypto stance"
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In the first half of 2024, the FATF will report on regulatory actions taken by member and FSB countries regarding virtual asset service providers.
"in the first half of 2020 4 the fat F will report on steps fat F members and fsrb countries with materially important virtual asset activity have taken to regulate and supervise virtual asset service providers"
Pending
The FATF has agreed on a roadmap to ensure its recommendations are implemented globally.
"the fat F recently agreed on a roadmap to ensure that its so-called recommendations are implemented in every country on the planet"
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The UAE's previous targeting by the FATF is seen as evidence that other pro-crypto regions will face significant scrutiny.
"this is circumstantial evidence to support the idea that the UAE was partially targeted by the fat F because of its crypto adoption and it foreshadows significant scrutiny of other pro-crypto regions"
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Countries hosting Tether and Binance are expected to face increased regulatory attention.
"it's safe to say that the countries that are home to tether and binance are going to get a loud knock on the door"
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The FATF will promote greater coverage and implementation of AML/CFT regulations for crypto.
"promote greater coverage and effective implementation of anti-money laundering and combating the financing of terrorism"
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G20 sentiment towards crypto is predicted to shift from negative to positive starting in 2024 with Brazil's presidency, continuing into 2025 under South Africa.
"what this means is that there's a high likelihood that the G20 sentiment towards crypto will change from negative to positive starting next year when Brazil takes charge and this positive sentiment should continue under the South African presidency in 2025."
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The crypto market is predicted to be rough in late 2023, experience smoother sailing in 2024-2025, and become brutal in 2026.
"it's clear that the rest of 2023 is going to be rough for crypto 2024 and 2025 will be smoother sailing and 2026 will be brutal"
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The US presidency of the G20 in 2026 is expected to lead to renewed scrutiny of the crypto industry, especially if the current administration remains in power.
"the U.S will assume the G20 presidency in 2026... chances are that the US will still be anti-crypto come 2026 and this is basically guaranteed if the current Administration stays in power this means that the crypto industry could see renewed scrutiny in 2026"
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The next crypto bear market is generally expected to begin around 2026, coinciding with the US G20 presidency.
"which happens to coincide with when the next crypto bear Market is generally expected to begin"
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The adoption of global crypto regulations by all G20 countries is uncertain.
"whether all G20 countries will adopt them"
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There will be efforts to ensure the implementation of the FSB's global crypto regulations.
"ensure the implementation of the fsb's global crypto regulations"
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A more detailed crypto framework will be created for adoption by developing countries.
"create a more detailed crypto framework that can be adopted by developing countries"
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Global crypto regulations will be promoted to all countries, prioritizing those with high crypto adoption and significant exchange/stablecoin presence.
"spread the word about global crypto regulations to every single country starting first with the jurisdictions which have seen higher adoption of crypto assets and where internationally active crypto exchanges and large stablecoin issuers are located"
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Financial stability risks posed by crypto will be monitored.
"monitor the financial stability risks posed by crypto"
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All international organizations will collaborate on crypto-related matters.
"all International organizations to work together on crypto"
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International organizations will assist regulators in implementing crypto regulations nationally.
"help regulators and institutions Implement these kinds of crypto regulations at the national level"
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The G20's crackdown on crypto has begun, with India's roadmap outlining future actions.
"it seems the g20s crypto Crackdown has finally started and India's recent roadmap tells us what's next"
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The FSB broadened its crypto regulation scope during the Indonesian G20 presidency.
"the FSB expanded its scope of crypto regulations under the Indonesian presidency"
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The OECD has established global crypto tax rules.
"the organization for economic cooperation and development or oecd which recently put together Global crypto tax rules"
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The EU, Japan, and the UK are already implementing crypto regulations, possibly ahead of finalized FSB recommendations.
"the NX also references the crypto regulations already being introduced in G20 economies namely the EU Japan and the UK"
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BRICS countries, with the potential exception of India, are reportedly working towards de-dollarization.
"brics countries are reportedly in the process of trying to de-dollarize perhaps with the exception of India"
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BRICS countries have proposed initiatives like a unified digital currency or a commodity-backed joint currency.
"to that end brics countries have proposed everything from creating a unified digital currency to a joint currency that will be backed by commodities such as gold"
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Russia, a BRICS nation, is considering the use of cryptocurrency for trade.
"some brics countries namely Russia are considering using crypto for trade"
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Brazil is characterized as being extremely supportive of cryptocurrency.
"others namely Brazil are extremely pro-crypto"
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There is a warning against policy arbitrage, implying a potential caution to G20 countries deviating from global regulations.
"prevent policy Arbitrage some would say this is a not so subtle warning to any G20 countries that attempt to go their own way"
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The FATF's compliance roadmap was finalized in February 2023, with reporting on member country actions expected in the first half of 2024.
"the fat F's announcement about the compliance roadmap also specifies that quote in the first half of 2020 4 the fat F will report on steps fat F members and fsrb countries with materially important virtual asset activity have taken to regulate and supervise virtual asset service providers"
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Central Bank Digital Currencies (CBDCs) are viewed as tools to counteract Bitcoin.
"Central Bank digital currencies or cbdcs are tools to fight Bitcoin"
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The speed at which global crypto regulations can be coordinated is a key factor in their impact.
"the coordination of these Global crypto regulations"
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The G20 process has revealed that not all member countries fully agree with the global crypto regulations proposed by US-affiliated international organizations.
"this process has shown is that not all G20 countries are on board with the global crypto regulations that have been proposed by these U.S Affiliated International organizations"
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The influence of the G20 and similar organizations is expected to decrease as entities like BRICS grow.
"as other International organizations and bodies such as the brics continue to grow the influence of the G20 and others will continue to diminish"
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The long-term future of cryptocurrency will be significantly influenced by the attitudes of various international entities towards it.
"the long-term future of crypto could fundamentally depend on the attitudes that these entities have towards it"
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