Financial UK Advisor Calls On Government To Ban Bitcoin

Financial UK advisor calls on the UK Government to ban Bitcoin, remaining adamant that cryptocurrencies can have a destabilizing influence on society and they should be restricted so let’s find out some more in our Bitcoin news.

The independent financial UK advisor Neil Liversidge introduced a petition to ban bitcoin and crypto transactions in the UK and claims that he helped a few clients personally who fell victims to online crypto scammers. Critics said that Liversidge has failed his clientele by ignoring the best-performing assets over the past decade and that regulators understand the technology better.

Sign my petition. Cryptos have no intrinsic value, are a destabilising influence on society, and are used for criminal activity. The ‘mining’ of cryptos is harmful to the environment. Only criminals need cryptos. https://t.co/Ys2VV0G9L8 https://t.co/M7DAndh3yE

— Neil F Liversidge (@NeilFLiversidge) January 12, 2021

West Riding Personal Financial Solutions managing director Neil Liversidge introduced a petition calling on the government of the UK to close crypto transactions in the country:

 “Cryptocurrencies have no intrinsic value and can be a destabilising influence on society, and often used for criminal activity. Banning crypto transactions in the UK would impede criminals that rely on these currencies, and could also affect faith in the currency and so lead to a fall in prices, reducing the wealth and power of those holding cryptos. Cryptos are in no way essential to legitimate citizens and businesses, and the ‘mining’ of cryptos is harmful to the environment.”

In order to reach the government and to be considered for a debate in Parliament, the petition needs 100,000 signatures while at the time of writing it had about 90. The petition was launched a few days ago after a ban on crypto-based products that were issued by the UK financial service regulator which came in effect last week. Liversidge said that he helped people that were scammed by bad actors. One person was even blackmailed into sending 5000 BP in BTC after the thought he was sending personal photos to a woman that he met online. The second victim was an elderly woman who was scammed by a South African BTC gang that operated a “trading program.”  Liversidge said:

“Cryptos are a con in the truest sense of the term. I’m out to crash cryptos and cripple criminals. If the UK government takes a lead by banning transactions on cryptos as my petition requests, that will set off a chain reaction, crashing cryptos overnight. So if you’re holding cryptos now, my advice to you is to find a bigger fool than you and dump them quick.”