We're told international cooperation is always good. Regulation is necessary. What if the global push for cryptocurrency regulation is truly just paving the way for a different kind of colonialism? This new colonialism would be again driven by code and controlled by the same concentrated power and money. This theme extends beyond digital assets, but rather to a greater sense of autonomy, sovereignty, and future for the Global South.

Are We Repeating Past Mistakes?

The IMF and the World Bank like to preen as the good samaritans. They’ve got a notorious history of using this power to force harmful policies on developing countries that serve the interests of the developed world. Voting power is linked to financial contributions, giving the US and other rich countries outsized influence. Now, picture this same idea applied to a global crypto regulator.

Suddenly, the narrative shifts. What begins as a very real desire to protect consumers and fight the scourge of global money laundering soon turns. It becomes, instead, a weapon of domination and exploitation. Washington and Brussels set the rules that set how countries in Africa and Latin America will play. These regulations outline the permissible and impermissible uses of this technology by these countries.

  • Problem: Global South regulation by Global North.
  • Consequence: Stifled innovation, economic dependency.

Perhaps the greatest peril among these is the attack on central bank independence. This is because cryptocurrencies, by their very nature, are an existential challenge to the traditional monopoly power of central banks. Instead of allowing developing nations to navigate this new landscape on their own terms, a global regulator could force them into a corner.

Central Bank Autonomy Under Threat

Picture this: a developing nation, struggling with inflation, sees potential in using crypto to bypass traditional financial systems. Neither can the future global crypto regulator be allowed to cave in to pressure from heavyweight Western countries. To that end, it enacts draconian regulations that crush experimentation and limit innovation. They're forced to choose: comply and remain economically dependent, or resist and risk being ostracized from the global financial system. It's a lose-lose situation.

Don't be fooled. This isn't about protecting developing nations. It's about maintaining control. And frankly, it’s infuriating.

Even Donald Trump— not anyone’s first choice to head up the movement for the little guy— has apparently gone pro-crypto. Why? Perhaps it’s political expediency, perhaps it financial inducements from meme-coins. But his shift highlights a crucial point: the Global North is waking up to the potential power of crypto, and they're not afraid to use it to their advantage.

Trump's Crypto Shift: A Warning Sign?

None of this is about whether you like Trump or not. Acknowledge that the rules of the game have shifted. From the start, it has been the people with the most power who have been allowed to write the rules. We should all be very suspicious of any outside body that claims to know everything. Sometimes, less regulation is more. In fact, one of the best ways to support the Global South is to allow them to do so.

  • Global North: Sees crypto as opportunity for control.
  • Global South: Risk being pawns in the game.

We need to ask ourselves some tough questions: Are we truly trying to help developing nations, or are we just trying to impose our will on them? Are we simply making the same mistakes and injustices of the past, or are we truly investing in a greener and more equitable future?

The answer, I’m afraid, has become all too obvious. This is why the global push for crypto regulation is not a story about globalist progress — it’s a story about globalist power. And if we don’t pay attention, if we don’t demand better as stakeholders in this, we’ll be complicit in the next wave of digital colonialism. We have to continue to be that change and continue to advocate for a fair and equitable crypto future for all.

The answer, I fear, is becoming increasingly clear. The push for global crypto regulation is not about progress; it's about power. And if we're not careful, we'll be complicit in a new era of digital colonialism. We need to be the change, and fight for a fair and equitable crypto future for everybody.