Posted 2 months ago | by Catoshi Nakamoto

Coinbase claps back at big brother, Elon musk is considering creating his own social media platform and some very bullish XRP data is discovered. My name is Ben. This is your crypto nightly news wrap up. Let’s get it!

Last week, the EU had the industry holding its breath as they voted on the Proof of Work Mining ban. Luckily, it didn’t go through. Everyone had a sigh of relief, high fived their friends and felt at ease…for a couple of days anyway. Now, the European Union is back at it again and this week they’re set to vote on a revision for the Transfer of Funds Regulation. This is Big Brother’s weekly attempt to overregulate the crypto space off the back of crypto financing terrorism and money laundering. They must have missed the memo that everything on the blockchain is visible forever and cash is still the best way to launder money.

What will this amendment do if it’s passed? Firstly, all crypto transactions will be “Travel Rule eligible – Meaning that the sender of the transaction has to provide not only their address and identity, but the address and identity of the recipient as well. This separates crypto from fiat because the fiat limit is 1,000 euro. It’s an even worse of an Invasion of privacy for the those who use self hosted wallets because the exchanges will be obligated to collect, verify and report information about wallet users who aren’t even their customers! Although the limit is 1000 euros for the self-hosted wallet transactions, it’s still egregiously unethical because they’re leaving the door open for more regulations or bans against them.

A similar regulation is already about to start in Canada on April 4th and people are not happy about it. Coinbase recently posted a blog post imploring people to speak up since this amendment would be against their privacy violations. In the post, they touch on how “Bad facts make bad law” Coinbase states, “If adopted, this revision would unleash an entire surveillance regime on exchanges like Coinbase, stifle innovation and undermine the self- hosted wallets that individuals use to securely protect their digital assets.” The outcome of this vote could be as early as this Thursday and hopefully it gets shut down like the last proposal, but some people, such as Patrick Hansen, seem to think this one is more likely to pass since it has multi party support. The EU’s terrible misunderstandings about the crypto space are turning into terrible policies that will hit harder than Will Smith at the Oscars.

Stories like this are all too relevant in this day and age. People don’t want governing bodies prying in to all our business; our freedom We can regulate ourselves. We live in a country that was built off the idea and freedom, yet government overreach and censorship are alive now more than ever. In response to this, Elon Musk weighed in on Twitter over the weekend stating that he has “Given serious thought” to opening a social media platform of his own. In another tweet on Friday he stated, “Free Speech is essential to a functioning democracy” Underneath it he did a poll asking “Do you believe Twitter rigorously adheres to this principle?” Just over 70% of the 2 million people who voted on the poll said No, and that says a lot. Twitter must realize they’re on thin ice with their users considering the fact they didn’t pull this tweet down. Although there have been several failed attempts for censorship free platforms, if anyone has a chance to pull it off, it’s Elon. Comment below on what you think Elon would rename twitter to if he bought it.

Finally some breaking news about XRP that is rocking the banking world. In a leaked Goldman Sachs presentation from November of 2021, twitter user WKahneman found that the banking giant breaks down Digital Assets and blockchain for their investment banking division to get them up to speed with what’s happening in Blockchain. But the slide on page 37 is what really set crypto twitter on fire when Goldman called out Circle, Coinbase and Ripple as what they consider to be the standards for crypto payment ecosystems. RippleNet was noted as the cross-board payment system in the document that was the middle man between onramps like Circle and off ramps like Coinbase. This is huge news for XRP holders and backs up what we’ve been telling you for months now, that the SEC case against XRP is a smoke show and XRP is going to come out on top. Looks like April is going to be a month for the history books.

Smash that like button and don’t forget to subscribe to the channel. That’s all I got, be blessed, Bitboy out.

About Catoshi Nakamoto

c6ea0c3794492f30883e516d39b2597a?s=90&d=blank&r=g LEAKED RIPPLE DOCUMENT HAS XRP ARMY THRILLED (Bank Insiders Go ALL IN)Activist/Journalist, former writer - We Are Change, The Mind Unleashed, Coinivore, others. Currently writing for - Activist Post and Bitboy Crypto. Not Right or Left Apolitical. I Care About Truths (CATS.) Cryptocurrency enthusiast, I mined and lost 100+ BTC in 2010-2011. I work with - Bitboy, SoMee, CEEK, Presearch, and W3BT aka FMW Media Group. Friend of mostly everyone who isn't a dick. Just A Cool Cat.