During a recent interview, SEC Commissioner Hester Pierce discussed the fast-paced world of decentralized finance known as DeFi. This niche combines the benefits of traditional banking and finance with advances in blockchain technology and cryptocurrency. In her words, “DeFi has posed a challenge for the SEC in a similar way that the ICO boom did in 2017. What is different here is that the pace of DeFi has actually been much faster. I also think that the legal issues are more difficult to sort out on the DeFi side.”
Pierce also admitted that attempts to regulate DeFi may fall outside of the SEC’s realm, even though some aspects may be interpreted as fair game. The reality which was not stated however, is that government agencies in general are barely able to scratch the surface in their attempts at overstepping the personal freedoms associated with private crypto transactions.
Their attempts to exert jurisdiction on a global jurisdictionless model have left them grasping at straws. The cryptocurrency movement is inherently good and exists as a force of liberation and freedom from a corrupt system that has historically disenfranchised huge swaths of the population. The dynamic abundance and empowerment of crypto poses an existential threat to the old guard and currency monopoly that central banks have long enjoyed.
As crypto becomes more widespread and more decentralized apps (or dapps) are developed by countless enterprising individuals, regulation will become a virtual impossibility. It would be akin to government agencies trying to regulate every in-person transaction. There aren’t enough government agents and resources to track every private purchase. Likewise, once crypto reaches a point of critical mass, there will be only symbolic successes, if any, at enforcement.
META 1 Coin Trust has been leading the charge against the overreach of government agencies and we defend ourselves against any and all illegitimate attempts to exert jurisdiction on our project. We are staunch defenders and enforcers of human rights and freedoms not only for ourselves, but also for the crypto community as a whole. META 1 Coin is easily deployed and scaled to encompass the world by way of the blockchain. The greater our base of global coin holders, the more unstoppable we become in our pursuit of civil liberty and abundance for Humanity.
As we see each day in the biased mainstream media, valid concerns about potential voter fraud backed up by legally valid eyewitness testimony and affidavits are summarily dismissed before anyone has a chance to fully argue their case. This demonstrates how the corrupt system will use any and all means to protect itself from any perceived threats. The power of the few has held its grip for so long, that any attempts to unmask the reality of its corruption are forcefully rejected by the allied forces of corrupt media and equally corrupt courtrooms working in tandem to preserve the last remnants of a system that has already shifted in a new direction.
The same is true about the corrupt monopoly of central banks. META 1 Coin is a viable alternative to state monetary systems, also known as political money (fiat currency), which is why the backlash has been so strong against us by the state and its henchmen, the mainstream media. META 1 Coin was designed for Humanity – not any particular nation’s citizens – and is a replacement for sovereign currency that is asset-backed by gold. Our global reach is far beyond the jurisdiction of any specific nation’s agencies as our blockchain, META Exchange, operates in a non-physical space beyond any borders.