{"id":57952,"date":"2025-04-09T11:40:07","date_gmt":"2025-04-09T11:40:07","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=57952"},"modified":"2025-04-09T11:40:07","modified_gmt":"2025-04-09T11:40:07","slug":"crypto-enforcement-team-new-report-calls-crypto-a-risk-to-international-economic-system","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=57952","title":{"rendered":"Crypto Enforcement Team: New Report Calls Crypto a \u2018Risk to International Economic System\u2019"},"content":{"rendered":"<p><span>The U.S. Justice Department has scrapped its Crypto Enforcement Team, redirecting prosecutorial efforts exclusively toward cases linked to cartels and terrorism. This comes after <\/span><span><span>the International Monetary Fund (IMF) launched a new\u00a0<a class=\"general-link\" href=\"https:\/\/www.imf.org\/en\/Publications\/GFSR\/Issues\/2021\/10\/12\/global-financial-stability-report-october-2021\" target=\"_blank\" rel=\"noopener\">Global Financial Stability Report<\/a>, in<\/span>\u00a0which an entire chapter was dedicated to the worldwide risks posed by crypto.<\/span><\/p>\n<p><span>Although it wasn\u2019t mentioned by name, El Salvador, which recently adopted a <a href=\"https:\/\/99bitcoins.com\/cryptocurrency\/new-cryptocurrency\/\">Bitcoin standard<\/a>, was alluded to as one of the problems.\u00a0<\/span><\/p>\n<p><span>The report addressed new \u201cthreats\u201d to crypto, particularly stablecoins and <a href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-1000x-crypto\/\">DeFi<\/a>. Let\u2019s break all of this down.<\/span><\/p>\n<div class=\"chart crypto-chart-instance\">\n<div class=\"chart__header\">\n<div class=\"chart__info\">\n<div class=\"chart__info-icon\"><\/div>\n<div class=\"chart__info-name\">&#8211;<\/div>\n<div class=\"chart__info-label\">Price<\/div>\n<div class=\"chart__info-label\">Market Cap<\/div>\n<div class=\"chart__info-value\">&#8211;<\/div>\n<div class=\"chart__info-value\">&#8211;<\/div>\n<div class=\"chart__info-value\">&#8211;<\/div>\n<\/div>\n<div class=\"chart__controls\">\n<div class=\"chart__controls-group\">\n                <button class=\"chart__button chart__button--24h\">24h<\/button><br \/>\n                <button class=\"chart__button chart__button--7d\">7d<\/button><br \/>\n                <button class=\"chart__button chart__button--30d\">30d<\/button><br \/>\n                <button class=\"chart__button chart__button--1y\">1y<\/button><br \/>\n                <button class=\"chart__button chart__button--all-time\">All Time<\/button>\n            <\/div>\n<div class=\"chart__controls-group\">\n                <button class=\"chart__button chart__button--logarithmic\">Log<\/button>\n            <\/div>\n<\/div>\n<\/div>\n<div class=\"chart__container\"><\/div>\n<\/div>\n<h2><strong>Crypto Enforcement Team: The Problem with \u2018Cryptoization\u2019<\/strong><\/h2>\n<p><span>Deputy Attorney General Todd Blanche, in a memo sent late Monday, accused the Biden era of botching crypto oversight with an overzealous reliance on prosecutions instead of clear rules, lambasting it as reckless.<\/span><\/p>\n<p><span>Early in the report, the IMF warned of the upcoming crypto risk and urged world governments to enact a policy that keeps the cryptocurrency markets under a watchful eye. <\/span><span>\u201c<\/span><span>Policymakers should implement global standards for crypto-assets and enhance their ability to monitor the crypto ecosystem by addressing data gaps,\u201d <\/span><a class=\"general-link\" href=\"https:\/\/blogs.imf.org\/2021\/10\/01\/crypto-boom-poses-new-challenges-to-financial-stability\/\" target=\"_blank\" rel=\"noopener\"><span>the report stated<\/span><\/a><span>.\u00a0<\/span><\/p>\n<p>The Trump administration has given the proverbial middle finger to this by eliminating the crypto task force:<\/p>\n<p>JUST IN:  SEC launches its Crypto Task Force website. <a href=\"https:\/\/t.co\/NLFViuoHKZ\" target=\"_blank\" rel=\"noopener\">pic.twitter.com\/NLFViuoHKZ<\/a><\/p>\n<p>\u2014 Bitcoin Magazine (@BitcoinMagazine) <a href=\"https:\/\/twitter.com\/BitcoinMagazine\/status\/1886868435944042931?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">February 4, 2025<\/a><\/p>\n\n<p><span>Instead of addressing any benefits that cryptocurrency may add to the global economy\u2014like quick and easy payments, a deflationary hedge against the dollar, or stable governance for third-world countries\u2014the report maintained a negative tone throughout.<\/span><\/p>\n<p><span>The worst part of all this is that the IMF \u2014 like other crooked politicians and systems \u2014 do this under the banner of protecting you. They\u2019re protecting you from making money. How nice of them.<\/span><\/p>\n<h2><strong>What to Make of All These Crypto Regulation Rollbacks<\/strong><\/h2>\n<p><span>The IMF desperately wants to protect its power and the power of the U.S. dollar. Although Warren Buffet urges investors never to bet against America, the U.S. dollar is now something you can wipe your bum with.<\/span><\/p>\n<p><span>Buffet himself displayed this when <\/span><span>Berkshire Hathaway <\/span><a class=\"general-link\" href=\"https:\/\/www.spokesman.com\/stories\/2021\/jul\/04\/warren-buffetts-top-tips-for-beating-inflation\/\" target=\"_blank\" rel=\"noopener\"><span>listed<\/span><\/a><span> \u201cinflation\u201d as one of their main concerns at a recent shareholder meeting.<\/span><\/p>\n<p><span>In closing, here\u2019s what the IMF suggested doing in the report to solve global financial problems:<\/span><\/p>\n<p><span>They suggested strengthening the financial central banks<\/span><br \/>\n<span>They want to create a central-backed digital currency (<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/c\/central-bank-digital-currency-cbdc.asp\" target=\"_blank\" rel=\"noopener\"><span>CBDCs<\/span><\/a><span>)<\/span><br \/>\n<span>They want to implement efficient authorized and regulatory measures to \u201cdisincentivize international foreign money use.\u201d<\/span><\/p>\n<p><span>Do those sound like good solutions to you? No or no?<\/span><\/p>\n<p><strong>EXPLORE:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/news\/xrp-price-jumps-11-after-sec-crypto-unit-tease-xrp-etf-progress\/\" target=\"_blank\" rel=\"noopener\">XRP Price Jumps 11% After SEC Crypto Unit Tease XRP ETF Progress<\/a><\/strong><\/p>\n<p><strong><a class=\"general-link\" href=\"https:\/\/discord.gg\/B7Uk6agkqj\" target=\"_blank\" rel=\"noopener\">Join The 99Bitcoins News Discord Here For The Latest Market Updates<\/a><\/strong><\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h3 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h3>\n<p>        <span>The U.S. Justice Department has scrapped its Crypto Enforcement Team, redirecting prosecutorial efforts exclusively toward cases linked to cartels.<\/span>     <\/p>\n<p>        For now, the debate about cryptocurrency\u2019s place in America\u2019s financial future is just beginning.    <\/p><\/div>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/altcoins\/crypto-enforcement-team-new-report-calls-crypto-a-risk-to-international-economic-system\/\">Crypto Enforcement Team: New Report Calls Crypto a \u2018Risk to International Economic System\u2019<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>The U.S. Justice Department has scrapped its Crypto Enforcement Team, redirecting prosecutorial efforts exclusively toward cases linked to cartels and terrorism. This comes after the International Monetary Fund (IMF) launched a new\u00a0Global Financial Stability Report, in\u00a0which an entire chapter was dedicated to the worldwide risks posed by crypto. Although it wasn\u2019t mentioned by name, El [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-57952","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/57952"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=57952"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/57952\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=57952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=57952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=57952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}