Bitcoin Lightning In Africa And Binance In Trouble

https://www.coindesk.com/business/2022/12/12/us-prosecutors-look-to-charge-binance-and-cz-for-possible-money-laundering-violations-reuters/

https://cointelegraph.com/news/bitcoin-lightning-network-to-be-used-in-fiat-transfers-between-eu-and-africa

Binance and apparently many other crypto exchanges are on the radar of U.S. regulators. Binance is under investigation for allegedly laundering money. U.S prosecutors are considering criminal charges against crypto exchange Binance and individual executives, including founder and CEO Changpeng Zhao. Where were these regulators when government officials and news outlets were being paid millions of dollars by Sam Bankman Fried? The government never lifted a finger to protect its citizens but now has a loaded gun pointing at all of crypto. The archaic regulations in place only support monopolies within the financial sector. The U.S. has been accused by many in the crypto space for purposely making it difficult if not impossible for crypto business's to flourish or even open up shop.
In other news Bitcoin lightning will be used for crossborder payments betweeen Europe and Africa. Usually these payments happen using third parties like Western Union, who in turn take a big cut of what your sending. These third party payments take days to trasnsfer funds and are not reliable for families trying to send money to loved ones across the world. If you thought this was bad, countries around the world are already using CBDC's.
Governments are limiting the use of dollars by not letting their citizens pull out cash from their banks. Instead there is a limit on how much cash you can use and the rest you will need to use through their digital banking services. This means you will be tracked and they will use this data to make money off of monitoring your movements. When it comes to protesting they will just close your bank account, prime example is in Canada where they actually did this to their citizens.
#binance #lightningnetwork #europe #africa #crossborderpayment

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