The tide is starting to shift in favor of crypto…
After a full-blown crackdown during the first half of the year, we’re seeing the pendulum swing back toward a more favorable regulatory environment for crypto.
Bitcoin hit a yearly high above $31,000 this week after regulators across the globe started softening their stances.
During congressional testimony last week, Federal Reserve Chair Jerome Powell said, “Crypto appears to have staying power as an asset class.”
He also said, “We see stablecoins as a form of money.”
Meanwhile, the International Monetary Fund (IMF) said banning crypto isn’t an effective option… Because it would prevent countries from benefiting from the technology.
Referring to proposed crypto bans in Latin America, the IMF wrote:
The region should instead focus on addressing the drivers of crypto demand, including citizens’ unmet digital payment needs, and on improving transparency by recording crypto asset transactions in national statistics.
This is a complete and stunning about-face by the IMF. Just this February, the institution said banning crypto “should be an option.”
If you’ve been following the Daily, you wouldn’t be surprised that regulators are warming up to crypto.
Just this week, Palm Beach Pioneer co-editor Graham Friedman revealed his involvement in new legislation that would clarify rules surrounding crypto in the United States. (Pioneer subscribers can watch Graham’s latest video update right here.)
As Graham puts it, U.S. lawmakers are awakening to the importance of keeping blockchain technology – and the trillions of dollars’ worth of capital that will flow into it – on shore. They realize cracking down on crypto will chase those tax dollars elsewhere.
The softening of anti-crypto regulatory sentiment and renewed institutional interest in crypto prompted Daily editor Teeka Tiwari to declare the crypto bear market over.
While Powell’s positive testimony on crypto is bullish… Teeka believes the Fed chair is set to make an even bigger announcement about digital cash this month.
As soon as July 26, the Fed will announce a new instant payment network called FedNow.
If you haven’t heard about FedNow, it’ll allow individuals and businesses to send and receive instant payments through the Fed. Banks can also build products on top of the FedNow platform.
The government will deploy the service in phases, with the initial launch taking place in July. We don’t believe many Americans know about FedNow… which is why we call it a “surprise announcement.”
As Teeka has warned, FedNow could be the Trojan Horse to implement a digital dollar in the United States. And those who aren’t prepared will be shocked.
Teeka says two ways to opt out of a possible digital dollar are to own some bitcoin and gold.
He recently put together an entire playbook to show you additional ways to protect yourself and potentially profit from this July surprise.
The playbook includes:
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Step-by-step instructions to securely buy and store your bitcoin.
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The name of a company set to profit from the digital dollar trend.
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The name of a crypto project also set to profit from this trend.
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And a secret way to 10x your money on gold.
All you have to do is click here to learn more.
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Regards,
Chaka Ferguson
Editorial Director, Palm Beach Daily