Opinion of: Elias Vilochkin, Product Manager of ChangeNow
Bitcoin optimism is naturally high. The US President Donald Trump’s trade agreement with the United Kingdom has given a jolt of trust in the global markets, and Bitcoin (BTC), as an ultimate suspicion without border, harvested the advantages.
The deployment behind the aggressive thrust of the Trump administration to deregulate the cryptography industry, however, is a consolidation of power which promotes the few while ignoring the many.
The cryptocurrency was designed for the daily person – those who were tired of opaque financial systems that prioritize the profit on the interest of people. Bitcoin came out of the ashes of the 2008 financial crisis as a radical experience of financial sovereignty, and not as an exercise to empower hedge funds and political elites.
This is exactly what is happening. Trump administration has taken measures to quickly deregulate the industry behind a friendly crypto program. The cryptographic company of his family, World Liberty Financial, is a clear example. With direct links with Trump’s sons, WLF launched its own stablecoin and digital tokens when the administration began to loosen surveillance. At the same time, the Ministry of Justice dissolved its national team of application of the cryptocurrency, removing surveys which formerly cibed money laundering and fraud.
From financial freedom to political favoritism
Dogs on duty and criticism have alarms on conflicts of interest. Trump’s public enthusiasm for digital currencies is a commercial strategy. The aggressive deregulation of his administration benefits WLF and others like that, isolating them from the exam while they widen their financial scope.
What is worse is the politicization of the crypto itself. Parts related to political figures, like Trump, flood the market. The gathering around these so-called “politicians” concerns loyalty and influence. It is increasingly feared that political actors take advantage of the crypto to build new forms of centralized influence.
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Trump’s administration considered himself the big liberator of the blockchain, but the end result is more like capitalism, the promise of financial empowerment being overshadowed by speculative gains. World Liberty Financial, rinse with new capital, invoices while everyday investors are to be navigated in a landscape designed to disadvantage them. Everyone receives the message that financial freedom is for sale – but only if you are in the right circle.
The non -banished deserve better than that
It is not the financial revolution that Crypto has promised. It is a replay of the same old game: the powerful enrich themselves, the regulators close their eyes and the rest of us hold the bag.
It is time for non-banished, sub-represented and those who failed by traditional finance to make their voices heard. We must remove the political brand and return to the main mission to provide real financial access to those who need it most.
This means showing people how crypto can help them in their daily life instead of talking about them conceptually as an investment. It seems that the sending of family money without losing 20% against the costs of discounts or economics in stable digital dollars when your local currency crashes.
Trump’s point of view on the crypto speaks of a big game on freedom, but below, you will find the same old power structures at stake. If the crypto will never be up to its potential, the community must come back to what it has ceased to do first: to break the mold, not strengthen it.
Opinion of: Elias Vilochkin, Product Manager of ChangeNow.
This article is for general information purposes and is not intended to be and must not be considered as legal or investment advice. The points of view, the thoughts and opinions expressed here are the only of the author and do not reflect or do not necessarily represent the opinions and opinions of Cointellegraph.
