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Hello to all of you crypto people, I am a Pinoy crypto trader and in this video we will talk about this new news about Senator Elizabeth Warren where she said that cryptocurrencies are a new threat, there she is, there she is, she is siding with Jamie Diamond, there Diamond or Demon, where J is Jamie Diamond, she is the one who said that if she is given a high position or position in the US government, she will destroy Bitcoin and all cryptocurrencies, she will clean it up and leave nothing here, there she found a partner here, there in the person of Senator Elizabeth Warren, before we continue, I just want to clarify my disclaimer, where the content of this video is not this, it is a financial advice for education and information purposes only, its purpose is only, apart from this, I also want to prohibit the Pinoy crypto trader from having any group chats, Senator Elizabeth Warren has once again voice strong criticism against cryptocurrencies highlighting them as an out threat to the United States so that's how she views cryptocurrencies as a threat to the United States her comments made during the cnbc is is sak box appearance on December 7 resonate with the views of JP Morgan CEO JP Uh Jamie diamond who has been a vocal advocate for shutting down the crypto sector so that's how we talked about this with Jamie Dimon that's the CEO of JP Morgan so that's the intensity of the statements he's released these past few days That's in the news so that's how he's looking for Ah including senator Elizabeth Warren Warren's remark centered on the allege use of cryptocurrency and financing terrorism drug trafficking and aiding rog Nations crypto is being used for terrorist financing and drug trafficking North Korea is using it to fund about half of its nuclear weapons program We can't allow this to continue That's the point of ah Madam Elizabeth waren here She is a senator in the United States That's when it comes to cryptocurrencies or Bitcoin there are two sides po yan um meron siya siya nego siyang side Ayan and Of course it has a positive side But if that's really what they only see here is the negative side but on the positive side there are really a lot of these it's a big help in our development that's in the development of our technologies so but when it comes to using these bad things it can still be prevented and it doesn't need to be closed or that a Clean up the cryptocurrencies because no matter how much there is still a lot of positive side or the beauty that Bitcoin or cryptocurrencies bring to our technology today.
They say if the United States can't adopt cryptocurrencies or Bitcoin they will be left behind in technology so aan however data from chain analysis chain chain analysis on on chain analytics firm presents a contrasting narrative indicating only about 0.15% of cryptocurrency transactions are linked to illicit Finance challenging the senator's assertion this figure sharply contrasts with the claim that crypto is a primary tool for such activities so ayan naglabas pa mismo ang chain analysis sa on chain analytics that only 0.15% of crypto transactions end up in illicit finance.
These are the ones mentioned here that are not good. Ah, those that end up in bad things are only 0.15%. That's how the FA did not deter senator waren who added that Jamie Diamond and I are in exactly the same place because we have a serious problem in this country. That's what he said. That's how they are with Jamie Diamond, according to senator waren, because the US country is in a serious problem.
She furthers mentioned that numerous banks CEOs share her viewpoint, which is hardly surprising. Decentralized currencies like Bitcoin post significant challenges to banks and governments that aim to maintain strict control over public financial activities. That's really the one to blame, because Bitcoin or cryptocurrencies.
But that's just my understanding. Who is printing money? That's the US dollar fat currency. They're printing money that has no value. If they just need money, they should all be released. Printed money has value, it has an equivalent in gold in the gold reserve. But what they are doing is printing without an equivalent value, so of course many people in the US have found out about that and they are afraid that their fiat currency, the US dollar, might collapse, so they are flocking to Bitcoin.
That's at least Bitcoin. That's why Mr. Robert Kosaki says that Bitcoin is the best storage value, and then gold. That's because if the US continues to just print their money, we know where it's going. During a session with the US Senate committee on banking, housing and Urban Affairs on December 5, Jamie Diamond remarked that the only true use case for it is criminal drug traffickers, money laundering, tax avoidance.
If I were the government, I'd close it down. That's the previews that Mr. Jamie Diamond said. That's again what Jamie Diamond only sees here is the possible negative where cryptocurrencies can be used. But I said earlier that there are more positive sides to cryptocurrencies in the development of our technology.
That's it. And when it comes to the negative side, we can do something to prevent them. Despite the shared viewpoint, JP Morgan's action presents a contradiction. The banking giant under Diamond's leadership has launched its own JPM crypto token on the ethereum network. That's right, JP Morgan has yet to launch its own crypto token.
That's using the ethereum network. This move is not worthy considering that JP Morgan has paid nearly 4 billion dollars in fines for various violations over the past two decades, highlighting a perceived double standard in the treatment of traditional banks and the crypto sector. The debate around cryptocurrencies in the US remains highly polarized, with figures like Senator Warin advocating for stringent measures against the industry, however, the feasibility of such actions is debatable, similar to the challenges of banning the Internet.
That's why cryptocurrencies are being debated in this country. us but there they said that what seems to be happening here is that they want to ban it they want to ban the use of the internet It seems that the same is true for banning crypto currencies here in the us as the dialogue involves the crypto community and traditional financial institutions remain at odds each defending their stance in a rapidly changing financial landscape the future of cryptocurrencies in the us is still uncertain because of the ongoing debate about cryptocurrencies here in the us Until now it is still unclear what the future of cryptocurrencies will be like in the us because many high-ranking officials in the US government really don't like them they are against cryptocurrencies and that's all we'll do in this video I hope you liked my explanation here if you liked it please click the like button for those who are new here I invite you to subscribe Please also click on the bell icon because this will serve as a notification for my new videos that I upload to my YouTube channel.
Thank you very much for watching and we will always be together and God bless us all.
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