by Martin Armstrong, Armstrong Economics:
SWIFT will no longer process currency transactions from bank accounts to crypto exchange, with a value of fewer than 100,000 USD, effective February 1st, 2023. The move is designed to reduce the access of crypto investors which is a step toward what I have been warning that governments will NOT allow private cryptos to compete. Governments have controlled official money and they have prosecuted those who dare to counterfeit their currencies. Even the Byzantine Empire would wage war to stop another from even imitating their currency.
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This is a move that is to open the door for government digital currencies and to gradually reduce the private crypto marketplace. Imposing a $100,000 limitation will greatly reduce the ability to gather smaller investors. This will be interesting if January proves to be just a reaction high.
Just as SWIFT removed Russia from their system when they refused to do that before Biden, they have surrendered their independence and now take their order from governments. This is the preparation for the collapse of the Monetary System.