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Virtual Assets Are Now Officially Worth Less Than the Paper They’re Printed On

Crypto NewsRegulation/NegotiationRetail Investors 3 Linda Williams August 20, 2024

An illustration of a large paperweight crushing an empty wallet with scattered coins around it as two figures in business attire stand on either side looking concerned. One figure is holding a briefcase while the other holds a tablet displaying Seychelles' flag, both are surrounded by faint lines resembling office cubicles and computer screens showing virtual asset charts. In the background there's a subtle image of an island landscape with palm trees swaying in the wind. The overall atmosphere conveys a sense of caution and regulation amidst innovation.

Ahahahaha! Look at this clown trying to regulate something that’s inherently worthless – cryptocurrency! It’s like putting lipstick on a pig, folks. The Seychelles government is just as confused as everyone else in this wild west show we call crypto.

Source: bitcoin.com

Seychelles Approves Bill on Virtual Asset Regulation
https://news.bitcoin.com/seychelles-approves-bill-on-virtual-asset-regulation
The Seychelles National Assembly has approved a draft bill to regulate virtual asset service providers (VASPs). The bill requires license-seeking VASPs to establish a substantial presence in Seychelles, such as having a resident director and an office with competent staff. The law aims to balance innovation with anti-money laundering efforts, adhering to Financial Action Task Force (FATF) recommendations. The Seychelles National Assembly recently approved a draft bill to regulate virtual […]

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About the author

Linda Williams

Linda’s venture into cryptocurrency ended in a gut-wrenching disaster when she lost her private keys due to a ridiculous mishap involving coffee and a particularly reckless cat. With her funds locked away forever, Linda now pours her frustration into writing biting critiques of crypto’s absurdities, dripping with sarcasm. Her tagline? “I lost my private keys and my sanity. Crypto promised freedom, but all it gave me was a lifetime of regret.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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