You can tell a lot about a person (or a government) based on their actions versus their words. 

The UK is a prime example of this.

The City of London’s finest politicians are about to remind us all that the only standards they hold when it comes to cryptocurrencies are double standards.

Case in point: Law enforcement in the UK seized 61,425 Bitcoin back in 2018, of which 61,000 were tied to a single criminal finance scheme seven years ago. 

Since they began targeting more crimes involving cryptocurrency, their seized cache is reportedly holding Bitcoin that is currently valued at more than $7 billion USD. 

Until now, they’ve just let it sit there—quietly appreciating in value while they demonized anyone else doing the same

However, times are changing, and the same government that has created a harsh and often unfair environment for law-abiding citizens to trade and hold cryptocurrencies is now poised to reap significant profits from it.

Now they want to cash in—dumping billions in Bitcoin to help cover the debt hole they’ve dug.

They've predicted that based on commissions alone, the sale of all this seized Bitcoin could bring in a fat commission somewhere in the range of £40 million (approximately $54 million USD).

While some of the money will (supposedly) be used to compensate victims related to the crimes involving Bitcoin, UK politicians are now realizing they can figure out a way to generate revenue. 

If you're reading this and thinking, "Oh great, now they're just going to start finding ways to seize more Bitcoin, potentially even from law-abiding citizens…”

…you're probably not the only one with that gut reaction.

During the Franklin D. Roosevelt administration in the United States, the government made it illegal to possess gold and seized privately held gold that had belonged to law-abiding, private individuals.

What’s to say the UK or some other government won’t attempt the same thing with Bitcoin? 

And while other countries are stockpiling Bitcoin as a strategic reserve… the UK is ready to dump it for a short-term fix.

Contrast that with here in Panama City, where our Mayor, Mayer Mizrachi (yes, the Mayor’s name is Mayer, and yes, that is amazing) is a crypto-enthusiast with big plans to normalize the use of Bitcoin in Panama.

This includes a proposal that will allow residents be able to pay municipal taxes, fees, fines, bus tickets and more using Bitcoin and other cryptocurrencies. 

(For more on Panama's Bitcoin push, check out today's episode of the Expat Money Show...)

If you're ready to go where your freedom to own and use cryptocurrency is protected and encouraged, I strongly recommend that you sit down and take the time to read this important letter.

Speak soon,

Mikkel

PS. This October, I invite you to join our Expat Money Online Summit, where this year we’ll be laser-focused on the seismic shifts happening right here in Latin America. I’ll be joined by top experts from across the region to show you exactly why your future, your wealth, and your freedom may depend on building your Plan B south of the border. Reserve your complimentary ticket here.

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