In a recent piece for Site X, Cardano founder Charles Hoskinson noted that the current Biden administration has taken a tough stance on the crypto industry over the past few years.
Mr. Hoskinson believes that the Biden-Harris administration has been aggressive towards the crypto industry and that there are no signs of improvement or a reset in their strategy. He warned that a vote for Kamala Harris would be detrimental to the U. S. crypto industry, suggesting that she would continue this alleged
"war on #cryptocurrencies .
Hoskinson's comments followed the Federal Reserve's recent actions against #cryptocurrency bank Customers Bank, which cryptocurrency watchers believe is a serious abuse of power and could stifle innovation in the cryptocurrency sector. Hoskinson countered Gemini co-founder Tyler Winklevoss, who argues that the so-called Operation Choke Point 2.0 is still in full swing. The 13-page lawsuit against Customers Bank orders the U. S. Federal Reserve to give 30 days' notice before establishing a new banking relationship with a cryptocurrency company.
Mr. Winklevoss emphasized the broader implications of the enforcement proceedings, noting that Customers Bank is one of the few remaining cryptocurrency banks in the United States. He stated that the FRB currently controls cryptocurrency companies' access to banking services, effectively determining who can and cannot open bank accounts, thereby limiting their options. In his opinion, if Harris wins, the number of licensed cryptocurrency companies could be as close to zero, if not zero.
This enforcement action is like the FRB playing with a Nerf gun. It's nothing more than a table setting. It's not even an appetizer. It's business as usual for the Fed because the election is right around the corner, and if Harris wins in November, the gloves will be off, Winklevoss said.
the meantime, former President Donald Trump repeatedly spoke out in favor of cryptocurrencies during the campaign. Most recently, Mr.
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