Corroborating ineedausername, Wikileaks seemed like they were unstoppable defying governments and all. Then, they said they were about to humiliate one of the U.S.'s most powerful banks. Then, Mastercard, Visa, and Paypal cut off all donations to them. Then, Wikileaks started dying off.
The government and card networks might do something similar. They could get SWIFT in on it, too, since they cooperate with governments and mostly profit from traditional banks.
Exactly. Imagine MasterCard and Visa blocking Facebook the merchant so advertisers can no longer pay Facebook. I'm sure Facebook will drop Libra like a hot potato.
I just checked and wikileaks.org is still alive and well. In fact a few years ago I donated crypto to them as a middle finger to the payment processors. Wikileaks is a perfect example of why banking regulations are ineffective when people can simply bypass said payment processors with crypto.
The government and card networks might do something similar. They could get SWIFT in on it, too, since they cooperate with governments and mostly profit from traditional banks.