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The UK can now confiscate your Bitcoin
Summary:
•UK authorities have approved legislation giving them the legal power to formally seize Bitcoin.
•The bill gives law enforcement agencies the power to freeze digital assets for up to 90 days.
•The move reflects the market’s urgent need for compliance and due diligence.
UK authorities recently approved secondary legislation aimed at enhancing their ability to legally seize cryptocurrency assets, including Bitcoin, suspected of criminal activity.
The development stems from the Economic Crime and Corporate Transparency Act passed last year, which empowers authorities to freeze and seize crypto assets suspected of facilitating criminal activities, such as money laundering and drug dealing.
•UK authorities have approved legislation giving them the legal power to formally seize Bitcoin.
•The bill gives law enforcement agencies the power to freeze digital assets for up to 90 days.
•The move reflects the market’s urgent need for compliance and due diligence.
UK authorities recently approved secondary legislation aimed at enhancing their ability to legally seize cryptocurrency assets, including Bitcoin, suspected of criminal activity.
The development stems from the Economic Crime and Corporate Transparency Act passed last year, which empowers authorities to freeze and seize crypto assets suspected of facilitating criminal activities, such as money laundering and drug dealing.
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UK judge freezes $7.6 million worth of Craig Wright's assets in Bitcoin creation rights trial
The world is watching the trial between Craig Wright and the Cryptozoological Open Patent Alliance (COPA) to decide whether the Australian computer scientist is the creator of Bitcoin, Satoshi Nakamoto. Satoshi Nakamoto).
As the trial concluded, a British judge issued a worldwide freezing order (WFO) freezing Wright's assets worth $7.6 million. This decision was made because the risk of paying fees in this case was relatively high.
Bitcoin’s Creator Could Be Anyone But Not Wright
Craig Wright's claims began in 2016 when he began claiming he was the man behind the pseudonym Satoshi Nakamoto. For years, these claims remained unsubstantiated and highly contested by the crypto community.
As the trial concluded, a British judge issued a worldwide freezing order (WFO) freezing Wright's assets worth $7.6 million. This decision was made because the risk of paying fees in this case was relatively high.
Bitcoin’s Creator Could Be Anyone But Not Wright
Craig Wright's claims began in 2016 when he began claiming he was the man behind the pseudonym Satoshi Nakamoto. For years, these claims remained unsubstantiated and highly contested by the crypto community.
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UK taxman wants cryptocurrency owners to disclose unreported gains
This article briefly:
·The UK taxman is offering cryptocurrency investors the opportunity to report any unpaid proceeds from taxable events involving cryptocurrencies and NFTs.
·Due to the complexities of taxable events over the years in cryptocurrency transactions, experts advise defaulters to consult experts.
The UK government is lowering corporate and personal taxes but appears to be tightening sanctions on cryptocurrency tax evaders following a statement in May.
The UK tax authority has launched a new voluntary disclosure process for those who fail to report cryptocurrency gains. HMRC wants the public to report income from cryptocurrency trading tokens, non-fungible tokens (NFTs) and utility tokens, following recent action against corporate tax evaders.
·The UK taxman is offering cryptocurrency investors the opportunity to report any unpaid proceeds from taxable events involving cryptocurrencies and NFTs.
·Due to the complexities of taxable events over the years in cryptocurrency transactions, experts advise defaulters to consult experts.
The UK government is lowering corporate and personal taxes but appears to be tightening sanctions on cryptocurrency tax evaders following a statement in May.
The UK tax authority has launched a new voluntary disclosure process for those who fail to report cryptocurrency gains. HMRC wants the public to report income from cryptocurrency trading tokens, non-fungible tokens (NFTs) and utility tokens, following recent action against corporate tax evaders.
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New UK law allows police to seize cryptocurrencies without arrest
The new law, which has been in effect since April, allows the UK police and the National Crime Agency to seize cryptocurrencies from people suspected of criminal activity in certain circumstances. This includes physical items related to cryptocurrencies. The law was implemented to combat fraud, drug dealing and other forms of illegal activity, and to prevent criminal proceeds by depriving criminals of the ability to use cryptocurrencies.
However, the move has also raised some concerns, especially regarding potential risks in terms of individual rights and abuse of power. Critics worry that such power could be abused, thereby infringing upon legitimate property rights and personal freedoms. In addition, detailed operational rules on how to destroy confiscated assets and how to share information when cryptocurrencies are transferred to other jurisdictions have not yet been clarified, which has also aroused public concern.
However, the move has also raised some concerns, especially regarding potential risks in terms of individual rights and abuse of power. Critics worry that such power could be abused, thereby infringing upon legitimate property rights and personal freedoms. In addition, detailed operational rules on how to destroy confiscated assets and how to share information when cryptocurrencies are transferred to other jurisdictions have not yet been clarified, which has also aroused public concern.
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UK lawmakers cautious about launching retail CBDC due to privacy and financial stability concerns
MPs urged the Bank of England and HM Treasury to thoroughly consider data privacy and financial stability issues before implementing a CBDC.
The UK Parliament’s Treasury Committee has issued a stark warning about the development of a retail central bank digital currency (CBDC) or “digital pound” and its potential harm to financial stability.
MPs urged the Bank of England and HM Treasury to thoroughly consider data privacy and financial stability issues before moving forward with implementing this new form of money.
The proposed retail digital pound is designed to be distinguished from wholesale CBDCs used for transactions between financial institutions and is envisioned as an electronic equivalent of fiat currency that both individuals and businesses can use to make payments.
The UK Parliament’s Treasury Committee has issued a stark warning about the development of a retail central bank digital currency (CBDC) or “digital pound” and its potential harm to financial stability.
MPs urged the Bank of England and HM Treasury to thoroughly consider data privacy and financial stability issues before moving forward with implementing this new form of money.
The proposed retail digital pound is designed to be distinguished from wholesale CBDCs used for transactions between financial institutions and is envisioned as an electronic equivalent of fiat currency that both individuals and businesses can use to make payments.
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Do you really think that the UK is bankrupt? I noticed this news yesterday, but I didn't say anything about it.
Let me explain it to you. First of all, the UK owes its own money! It is a government deficit, with a fiscal deficit of 22 billion pounds. This money is not foreign exchange! If you think it is bankrupt and can't be exchanged, then it can just print money! Is this a big deal? Sri Lanka is a typical bankruptcy! Argentina is on the verge of bankruptcy! It owes foreign debts! This is the real bankruptcy!
Moreover, the UK's economic indicators in July are very good, and GDP has increased by 0.9. It was negative before, which is already good. In addition, the PMI in July was 51.8, and the UK's economy is rising!
Why say bankruptcy, just passing the buck, party disputes! The Labour Party has not had party disputes for many years! There are so many debts, and they just don't want to take responsibility! I just want to say that the debts were before, and it has nothing to do with us!
In addition, they dislike the small amount of money in their hands and want to increase income! Tariffs and taxes on their own people have increased! Either their own people pay, or outsiders pay! Whoever suffers, it is our own people who suffer!
Another way is for financial institutions to bear the responsibility, such as setting up some state-owned enterprises, like feits, and taking out the operating rights for financing. If this is done, the British financial institutions will be very happy
There will definitely be a lot of economic and commercial behaviors when the blame is passed on, and the reaction speed of financial institutions will always be faster than that of politicians
Another point is that the current sovereign rating of the UK is 2A minus, while China is only A+. This comment is well-founded. Do you think your money is your own? Think about it more
Just like your own company, does the bankruptcy of a limited liability company have anything to do with whether you have money or not?
Remember, the British government still has BTC, and a large amount of cryptocurrency!
#英国破产抛售比特币
#英国
#英国将出售涉案比特币
Let me explain it to you. First of all, the UK owes its own money! It is a government deficit, with a fiscal deficit of 22 billion pounds. This money is not foreign exchange! If you think it is bankrupt and can't be exchanged, then it can just print money! Is this a big deal? Sri Lanka is a typical bankruptcy! Argentina is on the verge of bankruptcy! It owes foreign debts! This is the real bankruptcy!
Moreover, the UK's economic indicators in July are very good, and GDP has increased by 0.9. It was negative before, which is already good. In addition, the PMI in July was 51.8, and the UK's economy is rising!
Why say bankruptcy, just passing the buck, party disputes! The Labour Party has not had party disputes for many years! There are so many debts, and they just don't want to take responsibility! I just want to say that the debts were before, and it has nothing to do with us!
In addition, they dislike the small amount of money in their hands and want to increase income! Tariffs and taxes on their own people have increased! Either their own people pay, or outsiders pay! Whoever suffers, it is our own people who suffer!
Another way is for financial institutions to bear the responsibility, such as setting up some state-owned enterprises, like feits, and taking out the operating rights for financing. If this is done, the British financial institutions will be very happy
There will definitely be a lot of economic and commercial behaviors when the blame is passed on, and the reaction speed of financial institutions will always be faster than that of politicians
Another point is that the current sovereign rating of the UK is 2A minus, while China is only A+. This comment is well-founded. Do you think your money is your own? Think about it more
Just like your own company, does the bankruptcy of a limited liability company have anything to do with whether you have money or not?
Remember, the British government still has BTC, and a large amount of cryptocurrency!
#英国破产抛售比特币
#英国
#英国将出售涉案比特币
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UK finance minister looks to fast-track stablecoin and staking regulation
This article briefly:
•British Finance Minister Afolami said that the British government plans to formulate new stablecoin cryptocurrency rules within 6 months before the election.
•The FCA has been cracking down on cryptocurrency companies, issuing 450 warnings for advertising breaches in the fourth quarter of 2023.
•Afolami urges young people to invest in stocks like NatWest amid strict cryptocurrency regulations.
The UK government appears to be considering an ambitious six-month timeline for implementing new regulations governing stablecoins and crypto-asset staking services.
•British Finance Minister Afolami said that the British government plans to formulate new stablecoin cryptocurrency rules within 6 months before the election.
•The FCA has been cracking down on cryptocurrency companies, issuing 450 warnings for advertising breaches in the fourth quarter of 2023.
•Afolami urges young people to invest in stocks like NatWest amid strict cryptocurrency regulations.
The UK government appears to be considering an ambitious six-month timeline for implementing new regulations governing stablecoins and crypto-asset staking services.
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British Economic Minister Bim Afolami said at the Global Summit on Innovative Finance that the government plans to introduce a bill by June or July to regulate stablecoins and activities such as staking, trading and custody of cryptocurrencies. "We are stepping up legislative work to develop our government's final proposal," Afolami said. "Once the legislation comes into effect, various crypto asset activities, including operating exchanges, custody of customer assets, etc., will be regulated for the first time."
#英国 #加密货币"
#英国 #加密货币"
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UK government approaches digital pound with caution, prioritizing privacy and cash access
The UK Treasury and the Bank of England have highlighted certain criteria for the possible launch of a digital currency.
The UK government said it was proceeding cautiously with the design phase of a central bank digital currency (CBDC), according to a response to the Treasury Committee released on January 25.
The government stressed that no final decision had been reached on the rollout of a digital pound, adding that its officials were still exploring the feasibility and design of a CBDC.
The regulator further stated that it is setting standards and developing a comprehensive assessment framework to determine the feasibility of launching a national digital asset.
The UK Treasury and Bank of England stated,
The UK government said it was proceeding cautiously with the design phase of a central bank digital currency (CBDC), according to a response to the Treasury Committee released on January 25.
The government stressed that no final decision had been reached on the rollout of a digital pound, adding that its officials were still exploring the feasibility and design of a CBDC.
The regulator further stated that it is setting standards and developing a comprehensive assessment framework to determine the feasibility of launching a national digital asset.
The UK Treasury and Bank of England stated,
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Those who understand will understand!
The money of the poor is divided into 3/7 accounts
Nearly 2,500 investors jointly wrote to the Ministry of Public Security, asking the UK to return 27.2 billion bitcoins!
💥【Bitcoin shock】China Nearly 2,500 deceived investors formed an organization and wrote to the Ministry of Public Security to ask the UK to return 27.2 billion yuan worth of bitcoins!
Investors said: There is no time to waste! ⚠️
🔍Event review:
- Background: The crypto scam operated by Tianjin Lantian Gerui Electronic Technology Co., Ltd. has caused many victims, and the victims now ask the UK to return the seized bitcoins.
- Amount involved: 27.2 billion yuan (3 billion pounds), one of the largest cryptocurrency cases in the world.
- People involved: Chinese woman Jian Wen and her employer Qian Zhimin, Jian Wen has been convicted, Qian Zhimin's whereabouts are unknown.
- UK seizure: London Metropolitan Police seized 61,000 bitcoins in 2018.
📜 Letter from victims:
"We do not want and will never accept a situation where our Bitcoins are confiscated by the UK and not returned to us." The victims urged the authorities to act quickly and negotiate with the UK to return the Bitcoins!
🌐 Next steps:
- The UK has not yet made it clear how it will deal with these Bitcoins, and the confiscation issue will be discussed in September.
- It is still unknown whether the Chinese government will intervene, but the victims said they will never give up.
🚨 The Bitcoin market may usher in a huge change: This incident may cause a major market shock, and investors need to pay close attention!
#比特币政策 #英国 #中国三月内解封比特币 #美国5月核心PCE物价指数年率增幅创2021年3月以来新低 #美国5月核心PCE物价指数年率增幅创2021年3月以来新低 $BTC $ETH $BNB
The money of the poor is divided into 3/7 accounts
Nearly 2,500 investors jointly wrote to the Ministry of Public Security, asking the UK to return 27.2 billion bitcoins!
💥【Bitcoin shock】China Nearly 2,500 deceived investors formed an organization and wrote to the Ministry of Public Security to ask the UK to return 27.2 billion yuan worth of bitcoins!
Investors said: There is no time to waste! ⚠️
🔍Event review:
- Background: The crypto scam operated by Tianjin Lantian Gerui Electronic Technology Co., Ltd. has caused many victims, and the victims now ask the UK to return the seized bitcoins.
- Amount involved: 27.2 billion yuan (3 billion pounds), one of the largest cryptocurrency cases in the world.
- People involved: Chinese woman Jian Wen and her employer Qian Zhimin, Jian Wen has been convicted, Qian Zhimin's whereabouts are unknown.
- UK seizure: London Metropolitan Police seized 61,000 bitcoins in 2018.
📜 Letter from victims:
"We do not want and will never accept a situation where our Bitcoins are confiscated by the UK and not returned to us." The victims urged the authorities to act quickly and negotiate with the UK to return the Bitcoins!
🌐 Next steps:
- The UK has not yet made it clear how it will deal with these Bitcoins, and the confiscation issue will be discussed in September.
- It is still unknown whether the Chinese government will intervene, but the victims said they will never give up.
🚨 The Bitcoin market may usher in a huge change: This incident may cause a major market shock, and investors need to pay close attention!
#比特币政策 #英国 #中国三月内解封比特币 #美国5月核心PCE物价指数年率增幅创2021年3月以来新低 #美国5月核心PCE物价指数年率增幅创2021年3月以来新低 $BTC $ETH $BNB
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UK NHS warns: Cryptocurrency trading addiction is a public health crisis
The United Kingdom’s National Health Service (NHS) has recently issued a warning that cryptocurrency trading addiction has become a growing public health problem in the country.
The problem, which is mainly driven by the unregulated crypto market attracting young investors, has led to a rapid increase in the number of cases in specialist clinics.
NHS calls for legislative intervention
Speaking at ConfedExpo in Manchester, NHS chief Amanda Pritchard stressed the need for intervention, urging lawmakers to act to tackle the problem at its source rather than leaving the NHS to "pick up the pieces" after it has happened.
The problem, which is mainly driven by the unregulated crypto market attracting young investors, has led to a rapid increase in the number of cases in specialist clinics.
NHS calls for legislative intervention
Speaking at ConfedExpo in Manchester, NHS chief Amanda Pritchard stressed the need for intervention, urging lawmakers to act to tackle the problem at its source rather than leaving the NHS to "pick up the pieces" after it has happened.
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Crypto friends, is the sky falling? The UK regulator proposes banning the purchase of crypto assets via credit!
#数字资产法案 #英国 A shocking crypto ban! Is it a matter of life and death for 7 million users?
Attention all crypto enthusiasts, big news is here! The UK's Financial Conduct Authority (FCA) has recently made a bold move, directly throwing down a "king bomb"—a comprehensive ban on purchasing cryptocurrencies using credit cards, loans, or any credit methods! This move has turned the entire UK crypto market upside down, with 7 million UK users (12% of the adult population) suddenly in a panic. What exactly happened? Today, let's delve into this global regulatory storm!
Attention all crypto enthusiasts, big news is here! The UK's Financial Conduct Authority (FCA) has recently made a bold move, directly throwing down a "king bomb"—a comprehensive ban on purchasing cryptocurrencies using credit cards, loans, or any credit methods! This move has turned the entire UK crypto market upside down, with 7 million UK users (12% of the adult population) suddenly in a panic. What exactly happened? Today, let's delve into this global regulatory storm!
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UK approves tokenization of investment funds
The new tokenization roadmap recommends using permissioned blockchains in the initial phase.
UK funds have been given the go-ahead to develop tokenization to improve the efficiency, transparency and competitiveness of the industry, the Investment Association, the body representing the UK investment management industry, said.
Working closely with the Financial Conduct Authority (FCA) and HM Treasury, the Technical Working Group of the Government’s Asset Management Working Group has today launched the adoption of DLT-backed fund tokens in its report Tokenizing UK Funds: A Blueprint for Implementation ization roadmap. "
According to the report, these “digital funds” will represent investors’ interests through digital tokens on distributed ledger technology rather than traditional record-keeping methods.
UK funds have been given the go-ahead to develop tokenization to improve the efficiency, transparency and competitiveness of the industry, the Investment Association, the body representing the UK investment management industry, said.
Working closely with the Financial Conduct Authority (FCA) and HM Treasury, the Technical Working Group of the Government’s Asset Management Working Group has today launched the adoption of DLT-backed fund tokens in its report Tokenizing UK Funds: A Blueprint for Implementation ization roadmap. "
According to the report, these “digital funds” will represent investors’ interests through digital tokens on distributed ledger technology rather than traditional record-keeping methods.
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UK regulator encourages asset managers to tokenize funds
The UK’s financial regulator has approved a blueprint model aimed at facilitating the tokenization of funds for asset managers.
UK investment managers are getting regulatory support to use blockchain technology to tokenize funds, moving away from traditional record-keeping systems.
In a recent report released by the Investment Association (IA), it believes that fund tokenization, the issuance of tokenized units or shares based on distributed ledger technology (DLT), will lead to a more efficient and transparent financial industry.
In particular, the use of a real-time record-keeping system shared by all parties servicing a fund will reduce fund administration costs, streamline the reconciliation process, and shorten settlement times.
UK investment managers are getting regulatory support to use blockchain technology to tokenize funds, moving away from traditional record-keeping systems.
In a recent report released by the Investment Association (IA), it believes that fund tokenization, the issuance of tokenized units or shares based on distributed ledger technology (DLT), will lead to a more efficient and transparent financial industry.
In particular, the use of a real-time record-keeping system shared by all parties servicing a fund will reduce fund administration costs, streamline the reconciliation process, and shorten settlement times.
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#ETH #美国 #英国 #澳洲 #ARB
If ARB UAE Capital can make BRC20BTCS return to 2.5 USD per coin in 2024, I promise that I, sunshine33, will not set foot in northern China for the next 30 years. We are friends, you can sell much oil. Your ARB Fish is excellent. Finally, I want to express my most honorable respect to ETH Godfather, Make ETH Great Again.
If ARB UAE Capital can make BRC20BTCS return to 2.5 USD per coin in 2024, I promise that I, sunshine33, will not set foot in northern China for the next 30 years. We are friends, you can sell much oil. Your ARB Fish is excellent. Finally, I want to express my most honorable respect to ETH Godfather, Make ETH Great Again.
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UK launches massive raid: arrests of suspects in £1 billion cryptocurrency case
A major law enforcement breakthrough has been made in the UK cryptocurrency sector, with authorities arresting two individuals for allegedly operating an illegal digital currency exchange business that was reportedly worth more than £1 billion.
This action not only demonstrates the regulators' firm determination to crack down on unregulated financial activities in the cryptocurrency field, but also reflects their unremitting efforts to maintain financial market order and protect the interests of investors.
Multi-billion-pound crypto money laundering case uncovered, multiple suspects arrested
This action not only demonstrates the regulators' firm determination to crack down on unregulated financial activities in the cryptocurrency field, but also reflects their unremitting efforts to maintain financial market order and protect the interests of investors.
Multi-billion-pound crypto money laundering case uncovered, multiple suspects arrested
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Binance seeks to dismiss majority of UK Bitcoin SV case
Binance is seeking to have most of the charges thrown out in a U.K. case involving the delisting of Bitcoin SV (BSV).
The case not only involves Binance, but also names the companies behind Kraken, Shapeshift, and Bittylicious as defendants, Reuters reported on June 5. Despite this, Binance and other companies do not object to the certification of the case under the UK class action system, which would move the case toward trial proceedings.
At the hearing, Binance asked the UK Competition Appeal Tribunal to dismiss part of the plaintiff's case that BSV has the potential to become a major cryptocurrency. Binance lawyer Brian Kennelly pointed out that investors who held BSV during the delisting period chose to hold it voluntarily and could have exchanged it for other assets.
The case not only involves Binance, but also names the companies behind Kraken, Shapeshift, and Bittylicious as defendants, Reuters reported on June 5. Despite this, Binance and other companies do not object to the certification of the case under the UK class action system, which would move the case toward trial proceedings.
At the hearing, Binance asked the UK Competition Appeal Tribunal to dismiss part of the plaintiff's case that BSV has the potential to become a major cryptocurrency. Binance lawyer Brian Kennelly pointed out that investors who held BSV during the delisting period chose to hold it voluntarily and could have exchanged it for other assets.
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British police cracked a $6 billion cryptocurrency money laundering case, and a Chinese woman was sentenced to heavy prison
London Metropolitan Police law enforcement authorities said it was the largest confiscation of its kind in the UK.
In a high-profile case involving a massive cryptocurrency fraud, Jian Wen, a British woman of Chinese descent, was sentenced to six years and eight months in prison for her role in a bitcoin money laundering scheme that profited from a $6 billion investment fraud in China.
In March this year, Ms. Wen Jian, 42, was found guilty of laundering Bitcoin on behalf of her former boss Yadi Zhang (transliterated as Qian Zhimin).
According to a recent report, Qian Zhimin is accused of defrauding approximately 130,000 investors in China, amassing up to $5 billion through investment scams.
In a high-profile case involving a massive cryptocurrency fraud, Jian Wen, a British woman of Chinese descent, was sentenced to six years and eight months in prison for her role in a bitcoin money laundering scheme that profited from a $6 billion investment fraud in China.
In March this year, Ms. Wen Jian, 42, was found guilty of laundering Bitcoin on behalf of her former boss Yadi Zhang (transliterated as Qian Zhimin).
According to a recent report, Qian Zhimin is accused of defrauding approximately 130,000 investors in China, amassing up to $5 billion through investment scams.
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#ETH #美国 #英国 #澳洲
Please ETH godfather to save BTCS. This group of people with backgrounds publicly gave speeches in Wenzhou to inscribe π, but they forgot that if there is no ETH in the world, there will be no inscription ETHS, and if there is no BTC in the world, there will be no inscription BTCS, but if there is no BTC in the world, there will still be π. ETHS and BTCS are names that are established because of true love for ETH and BTC. And π's love for BTC and Satoshi Nakamoto is like other cryptocurrencies. Even if there is no BTC ecosystem, it will appear in other ecosystems such as TRX and BNB. I hope everyone can understand the gap between true love and general love.
Please ETH godfather to save BTCS. This group of people with backgrounds publicly gave speeches in Wenzhou to inscribe π, but they forgot that if there is no ETH in the world, there will be no inscription ETHS, and if there is no BTC in the world, there will be no inscription BTCS, but if there is no BTC in the world, there will still be π. ETHS and BTCS are names that are established because of true love for ETH and BTC. And π's love for BTC and Satoshi Nakamoto is like other cryptocurrencies. Even if there is no BTC ecosystem, it will appear in other ecosystems such as TRX and BNB. I hope everyone can understand the gap between true love and general love.
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