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- SSM: (ed.12) Illegitimate government policies raise self-custody imperative
SSM: (ed.12) Illegitimate government policies raise self-custody imperative
SSM (ed12) Illegitimate government policies raise self-custody imperative
SMM: (ed.12) Illegitimate government policies raise self-custody imperative
These regulations are an apartheid government relic and are difficult to apply to crypto. Bitcoin’s decentralized, permissionless and censorship-resistant technology will find ways to circumvent regressive regulations.
If government undertakes the large administrative burden required to execute these policies it will take a step towards the authoritarian governments of Turkey, Venezuela and China who have restricted access to this freedom-loving technology. No matter the outcome, it is prudent for bitcoin holders to self-custody funds before the government takes any foolish steps. Self-custody ensures access, sovereignty and encourages much-needed sound principles. These are the precise sound principles required to get South African economic policy on track.
Source: Free Gift From God
TLDR:
Crypto exposes the farcical nature of exchange controls. Execution is improbable and should motivate a deeper reflection of the policy. Individuals should self-custody funds to enhance their sovereignty from regressive regulations.