Monero Talk Wesley Thysse: On Governments Planning Worldwide Regulation of Crypto
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TODAY'S 🎙SHOW: Douglas Tuman interviews Wesley Thysse of decentralized legal system.com, who recently made a splash on r/cryptocurrency with the posting of his report on what regulations he believes governments worldwide will begin to enforce with regards to crypto.
The two discuss Wesley's research into the Financial action task Force and their recent recommendations to G20 on how to approach crypto currency, and why and how the FATF has so much influence in bringing forth financial regulations in the US and globally, especially considering it is not an elected body.
The two also discuss Wesley's thoughts on crypto and in particular monero as an unstoppable technology and whether betting on Monero in the face of mounting regulatory headwind is sound.
⏱Timestamps:
0:00 – Intro
2:05 – Monero Talk Starts – Wesley Explains Reddit Post
6:32 – How often are FATF recommendations used
9:40 – Soft laws and the FATF recommendations
10:10 – What interests are behind the FATF?
11:45 – Wesley discusses how these laws are implemented
13:03 – Doug points out elected officials are taking recommendations from organizations that weren't
13:30 – FATFs goal is to prevent money laundering/terrorist financing.
14:32 -What do you think the motivations behind these organizations making recommendations
16:50 – The wealthy tend to benefit from these new laws
19:50 – What are they try to achieve with these regulations
24:38 – How will they try to approach regulating Monero
26:38 – Will this stop Monero?
29:32 – Monero is still Unstoppable
35:20 – Wesley’s thoughts on Bitcoin culture of ‘Number Go Up’
37:55 – How does Wesley align with crypto
40:37 – Wesley’s thoughts on those who are ‘all in’ with crypto
44:11 – How to deal with news of Regulation, The silver lining of crypto regulation
47:16 – Will Regulators use Monero to better understand it?
51:03 – Why is Monero treated differently then Cash.
56:04 – CBDC, Stable Coins risk to Financial System
1:02:30 – Wesley’s recommendations for the Monero community
1:03:51 – Don't fear incoming regulation. Keep using Monero
1:05:44 – Outro, where to find Wesley’s work
🔗Links:
Website: https://decentralizedlegalsystem.com
Twitter: @Decentral_Law
Reddit Post: https://np.reddit.com/r/CryptoCurrency/comments/o9fd7l/governments_planning_global_coordinated/
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