Crypto venture capitalist partner at Castle Island Ventures and cofounder of Coinmetrics.io, Nic Carter, has predicted that in the next 12 months, a respected government in the west will point accusing fingers at Bitcoin (BTC) on the ground that it is being used for terrorist financing among other criminal activities.
Nic Carter’s Bitcoin (BTC) Prediction
Nic Carter predicted that the not yet identified top Western government will also ban Bitcoin ownership (BTC) on the justification that North Korea and the embattled Venezuelan president Nicolas Maduro own cryptocurrencies.
The top government will also allege that Bitcoin (BTC) is being used in Darknet markets, where transactions that has to do with drugs, stolen credit card details, and forged documents, among other things are performed.
Nic, who was prior to joining Castle Island Ventures, was Fidelity’s first cryptoasset analyst, added that the world will end up “with an unstable cartel of states that all benefit from criminalizing bitcoin”.
He furthered that this top western government will put forward an heavy regulations where owners of cryptocurrency must self identify themselves and exchanges will have no choice than to surveil users and give their data to government because they will prefer securing their businesses than people.
Prediction: in the next 12 months, a high-profile western government will criminalize Bitcoin ownership. Justifications will include:
– Terrorist financing
– Owned by regimes like NK and Maduro
– Darknet markets
— nic carter (@nic__carter) March 14, 2019
Bitcoin Mining Will Require Permit
Beyond that, the top government will have to issue permit for anyone wanting to mine Bitcoin (BTC), an unusual development in the crypto space.
North Korea Has Around $679 Million Worth of Bitcoin (BTC) and Some Other Currencies.
The United Nations Security Council expert report has alleged that North has around $670 million in Bitcoin and some other currencies.
According to the report, North Korea is stockpiling digital currencies purposely to evade economic sanctions placed on the country.
According to the panel, cryptocurrencies “provide the Democratic People’s Republic of Korea with more ways to evade sanctions, given that they are harder to trace, can be laundered many times and are independent from government regulation.”
North Korea has been alleged of involving in Cyber criminalities on digital assets exchanges and some other financial institutions purposely to make its pocket robust.
A report, which was first gotten by the Nikkei Asian Review, affirms the research and investigations into how the country use Bitcoin (BTC) to help its regime.
Bitcoin (BTC) In Venezuela
Crypto has become the gold of Venezuela recently after the country battled economic sanctions that increased its inflation to over 1000%.
In fact, the administration of President Maduro has issued crypto asset Petro pegged against petroleum purposely to circumvent sanctions and economic woes in the country.