Tag: Cryptocurrency

Bank Bail-ins : How Banks can Legally Confiscate Deposits & How to Secure Your Wealth

Posted on by Privacy Coin Report

[Video] Bank Bail-ins –
How Banks can Legally Confiscate Deposits & How to Secure Your Wealth

November 27th, 2021
Author: Privacy Coin Report @privacy_coin_

Since 2014, bank bail-in laws have been enacted in G20 nations (comprising of the 19 countries listed below, the European Union, and representatives of the International Monetary Fund (IMF) and the World Bank). Bank bail-ins are similar to bank bail-outs, in that both are implemented to prevent the collapse of an insolvent bank. The difference between the two terms is in who bears the financial burden of rescuing the failing bank.

A bank bail-out occurs when the government provides immediate relief to the insolvent bank by the direct injection of capital, as occurred in the 2008 Financial Crisis. A bank bail-in, in comparison, occurs when capital of bank depositors and bondholders is confiscated and used to rescue the failing bank. A bail-in experiment was conducted in Cyprus in 2013, where depositors holding more than 100,000 euros had a portion of their wealth confiscated.

In this video, Sim Khela, Director of Excellence Consulting discusses the legal framework in place for bank bail-ins, likelihood for bank deposit confiscation and how to protect your wealth held in fiat currencies within the traditional financial system.

 

Excellence Consulting  is a firm offering cryptocurrency consulting services for individual investors, family offices, and corporations. They may be contacted by email info@excellenceconsulting.co or telegram @ExcelConsulting

 

G20 Nations
Australia
Canada
Saudi Arabia
United States
India
Russia
South Africa
Turkey
Argentina
Brazil
Mexico
France
Germany
Italy
United Kingdom
China
Indonesia
Japan
South Korea

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Disclaimer: All contexts of blog posts are based solely upon the analysis and opinion of the author and are not intended to construe any financial advice in any form.

Privacy Coins are Here to Stay – Copenhagen Business School

Posted on by Privacy Coin Report

Privacy Coins are Here to Stay – Copenhagen Business School

November 23rd, 2021
Author: Privacy Coin Report @privacy_coin_

According to a 2020 study from the Copenhagen Business School, private cryptocurrencies are being developed using cryptographic protocols that make regulatory oversight not possible. The study is published in the Journal of Information Technology.

“If decentralized privacy-preserving cryptocurrencies become popular in the future, to the point they can be routinely exchanged without users having to convert to other currencies and systems, there is no obvious way for regulators to impose post-hoc regulation,” says Associate Professor Rob Gleasure from the Department of Digitalization, Copenhagen Business School.

“What the regulators do not realize is those who control the code will control the rules and so far, they have not accepted this and are in denial,” he adds.

The research pointed out that it would be extremely difficult to enforce a ban on privacy cryptocurrencies across all jurisdictions – given the decentralization of these projects. The study recommended that regulatory bodies prepare for the future possibility where identity linkable transactions may not exist.

“If these cryptocurrency communities have their own financial system which exists separately, and they become impossible to regulate, then it’s important to understand and understand this early. Once regulators accept it, they can then begin developing new methods to compensate,” concludes Associate Professor Rob Gleasure.

For an up-to-date market overview of Privacy Coins click here: General Market Overview of the Privacy Coin Market

 

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Disclaimer: All contexts of blog posts are based solely upon the analysis and opinion of the author and are not intended to construe any financial advice in any form.