When Control Becomes Pathological
- Martin Enlund
- 2/10/25
The risks associated with cryptocurrencies have recently received attention in the media, where e.g. the Swedish Financial Supervisory Authority warns of the high volatility and risk of investments in crypto. Within the EU, as usual, significant efforts are being made to expand the already extensive regulatory framework. Meanwhile, in the US, there has been a marked turnaround. Even the presidential family has launched their own cryptocurrencies, resulting in criticism from industry experts .
Pride comes before a fall
- Martin Enlund
- 3/31/24
The Governor of the Swedish Central Bank, Erik Thedéen, recently expressed significant skepticism about Bitcoin and cryptocurrencies as a phenomenon, dismissing Bitcoin as “an instrument for pure speculation.” He also pointed out that if there is no possibility to expose oneself to Bitcoin in the Swedish financial system, it might end up “more in criminal hands.” The European Central Bank is on the same track. In a recent blog post, they amused themselves by comparing Bitcoin ETFs to “the Emperor’s new clothes.”
KYC is the real terror
- Martin Enlund
- 3/21/24
It has become increasingly evident that our financial system has started undermine our constitutionally guaranteed freedoms and rights. Payment giants like PayPal, Mastercard, and Visa sometimes block the ability to donate money. Individuals, companies, and associations lose bank accounts — or struggle to open new ones. In bank offices, people nowadays risk undergoing something resembling being cross-examined. The regulations are becoming so cumbersome that their mere presence risks tarnishing the banks’ reputation.
We are all Josef K
- Martin Enlund
- 11/24/23
TL;DR: We are increasingly treated like Josef K, the protagonist in Franz Kafka’s novel The Trial. Perhaps not by the usual legal system but within the ‘shadow judiciary’ of major corporations’ user agreements and the regulatory framework of the financial sector.