Neal Liversedge, an experienced financial adviser, has called on the UK government to ban transactions involving cryptocurrencies such as Bitcoin (BTC).
Liversage, owner of West Riding Personal Financial Solutions, an independent financial advisory firm, has filed a lawsuit urging local financial authorities to halt cryptocurrency transactions in the UK. The appeal says:
“Legislation prohibits the payment or acceptance of cryptocurrencies by companies or individuals resident in the United Kingdom and requires UK regulators (FCA and PRA) to prohibit transactions made by UK financial institutions with cryptocurrencies such as Bitcoin.”
Liversedge cited a widespread anti-crypto narrative, arguing that cryptocurrencies such as Bitcoin have no intrinsic value and “can destabilize society and are often used for criminal activity.” The consultant also believes that cryptocurrency operations are “harmful to the environment.”
According to the British Government and Parliament’s website, the deadline for submitting the petition is July 7, 2021. At the time of publication, the petition has collected 108 signatures.
In a January 13 interview with a professional financial adviser, Liversidge indicated that a complete ban on cryptocurrency transactions in the UK would help police reduce the chances of criminals using cryptocurrencies such as Bitcoin to engage in illegal activities. “Law enforcement will never catch up with them all, even they will not capture most of them,” says the IFA, “but destroying their economic base reduces their power.”
Liversedge also said that banning cryptocurrencies would immediately lead to a market crash: “If the UK government takes the lead by banning cryptocurrency transactions, as the petition demands, it will lead to a chain reaction, causing cryptocurrencies to collapse overnight.” .
The IFA rule is that all cryptocurrency investors should sell their assets immediately: “So if you have a cryptocurrency now, I recommend you find an older idiot and get rid of it quickly.” Liversedge also told the Cointelegraph that he “never owned and will never buy” a cryptocurrency, even though he knew it would give him hundreds of percent of the profits.
Bitcoin’s steady increase, which pushed the price up to $ 42,000, has certainly led global Bitcoin skeptics to finally speak out about Bitcoin after it had been largely quiet in 2020. On January 14, Anatoly Aksakov, a Russian minister, world that authorities ban payment encrypted, because Bitcoin is a bubble that is about to burst “sooner or later”. On January 13, European Central Bank President Christine Lagarde said Bitcoin is a “very speculative resource” and a “fun business” that helps money launderers.