The death of FTX and the rise of CBDCs

Red Sky at Morning

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One year ago….


A change of leadership….


An interestingly timed collapse….


Enter Rishi Sunak and an interesting new solution?



A crypto enthusiast
Of all contemporary politicians, Sunak is among the few who are enthusiastic about cryptocurrency. Sunak, during his tenure as the chancellor in Boris Johnson's government, had expressed his desire to make the UK a hub of cryptocurrency. Now industry experts have termed his coronation as the UK Prime Minister as good news for the crypto industry.

Back in April, when Sunak was serving as the chancellor of the exchequer during Boris Johnson's rule, he proposed regulatory reforms related to stablecoins. "It's my ambition to make the UK a global hub for crypto-asset technology, and the measures we've outlined will help to ensure firms can invest, innovate and scale up in this country. This is part of our plan to ensure the UK financial services industry is always at the forefront of technology and innovation," Sunak said.

In 2021, Sunak also proposed a central bank digital currency (CBDC), or "Britcoin" to be a part of the UK economy by the end 2025. He had highlighted the advantages of CBDC but poor reception and regulatory concerns put forth by the security experts had stopped the CBDC from coming into action. Needless to say, the change of government twice postponed Sunak's crypto plans. However, now that Sunak has assumed chair as the prime minister, there are some chances of the concept resurfacing and becoming a part of the UK economy.

 
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Red Sky at Morning

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Got you thinking digital has worth & now take it from the masses cuz you can't miss what you have....then hey we can compensate all those with lose take this central bank digital currency lol....nothing like programming ya.
It’s almost like these unrelated international events have, for want of a better description, a “hidden hand” at work ;-)
 

Stucky

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Lalas

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If anyone is interested: the pilot project of the digital ruble, the "consent", for which, was announced on 11.11.2022. (and national biometric system on the previous page).
 

Red Sky at Morning

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The man who lost £27billion in a week! He's the Bitcoin whizz-kid feted by celebrities and politicians. But now his empire's crashed, along with his investors' savings - and may take the whole cryptocurrency economy down with it, writes TOM LEONARD

 

e-Enoch

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The man who lost £27billion in a week! He's the Bitcoin whizz-kid feted by celebrities and politicians. But now his empire's crashed, along with his investors' savings - and may take the whole cryptocurrency economy down with it, writes TOM LEONARD

 
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