Kamala Harris' advisor choices, including anti-crypto officials Brian Deese and Bharat Ramamurti, suggest she will continue the Biden administration's crypto #crackdown stance.
US Vice President Kamala Harris appears to continue a harsh stance on the cryptocurrency sector, as indicated by her recent advisor picks. The US VP, who is expected to unveil elements of her economic policy agenda soon, has enlisted key figures from the Biden administration, whom many deem as anti-crypto figures. This move suggests that she may continue the crypto crackdown initiated under President Joe Biden’s tenure.
In a recent X post, Galaxy Head Of Research Alex Thorn highlighted Kamala Harris’s anti-crypto advisory picks. He shared a report that showed that the US Vice President had added Brian Nelson, a top Treasury Department official, to her advisory team alongside longtime allies like Rohini Kosoglu.
However, it’s her inclusion of Brian Deese and Bharat Ramamurti, both of whom played pivotal roles in shaping Biden’s anti-crypto policies, that has raised eyebrows. According to Thorn, her choice of advisors signals a clear intention to continue Biden’s “hostile attitude” toward cryptocurrency.
Meanwhile, Thorn said that Deese, who previously served as Biden’s top economic advisor, particularly seemed to be an anti-crypto official. He authored a White House blog post in January 2023, emphasizing the risks associated with cryptocurrency and advocating for stricter regulation.
In addition, Thorn highlighted that Deese’s anti-crypto stance was evident when, on the same day the blog was published, the Federal Reserve rejected Custodia Bank’s membership application. Besides, the Fed also extended restrictions on crypto activities to all member banks on the same date.
Crypto Community Remains Skeptical Of US VP’s Intentions
The crypto community’s skepticism towards Harris’ intentions has grown, especially in light of her campaign’s proposed “crypto reset” plan. While the plan suggests an effort to mend relations with the crypto industry, many crypto market experts see the US Vice President’s crypto reset move as a mere political move, particularly as former President Donald Trump gains traction within the crypto space.
Bloomberg analyst James Seyffart recently commented on Thorn’s analysis, expressing doubt over Harris’ ability to shift her stance meaningfully. His remarks underscore the broader uncertainty surrounding Harris’ true position on crypto. With her advisory team dominated by figures who have historically opposed the industry, it remains unclear whether the “crypto reset” will bring about any substantial change.
Recently, Vivek Ramaswamy sought clarity on Kamala Harris’s crypto stance. In addition, he also questioned if the SEC Chair Gary Gensler, whom many see as an anti-crypto official, will continue in his chair under her presidency.

#BinanceLaunchpoolTON #CryptoMarketMoves #MarketDownturn

Victims of the KOK crypto fraud have accused South Korea’s largest newspaper, Chosun Ilbo, of promoting the fraudulent scheme, which led to losses of nearly $3 billion.
Accusations of Deliberate Promotion of the KOK Token Scam
According to a press release, the victims' coalition accused Chosun Ilbo subsidiaries, IT Chosun and Digital Chosun Ilbo, of intentionally promoting the fraudulent KOK token to the public, thus providing the project with an undeserved air of legitimacy.
The coalition claims that these media outlets gave the token extensive coverage, including reports on the launch of KOK’s main transaction server and the company receiving a major consumer satisfaction award.
Media Played a Key Role in the Fraud, Victims Claim
Jin Eun-ja, leader of the victims' coalition, stated that the operators of the fraudulent scheme allegedly used these endorsements to deceive investors into trusting the project when concerns started to arise, ultimately contributing to their financial losses.
Meanwhile, lawyer Lee Min-suk, representing the coalition, pointed to the suspicious timing of Chosun Ilbo’s coverage and awards, suggesting it played a crucial role in creating an atmosphere of trustworthiness that attracted more unsuspecting investors into the scheme.
Calls for Thorough Investigation
Lee Min-suk also called for a special investigation to determine whether Chosun Ilbo’s actions helped key figures behind the fraud avoid legal issues in its early stages, particularly in light of the Ulsan District Prosecutor’s Office’s investigation, which has yet to yield meaningful results.
Fugitive KOK Promoter Arrested in the U.S.
Jin Eun-ja also expressed frustration that one of the key KOK promoters, identified only as Mr. Han, remains free in the United States despite being a fugitive. According to the latest updates, Han was arrested in the U.S. earlier this year and is awaiting extradition to South Korea.
Regulatory #crackdown
South Korean lawmakers Yang Moon-suk and Min Hyung-bae from the Democratic Party highlighted the issue during a National Assembly audit in Seoul on October 7, calling for a more thorough investigation of the KOK debacle.
The lawmakers claimed the scheme operated as a multi-level marketing system, attracting 1.86 million domestic and international investors, leading to estimated damages of 4 trillion won ($2.97 billion).
KOK Token’s Drastic Decline
In February 2022, the KOK token reached its peak at $6.83, but its value has since plummeted to $0.0003129, according to CoinGecko. The token remains active on four centralized exchanges but has seen dwindling activity, with the project's X account going silent since June 2023.
South Korean Regulators Await Do Kwon’s Extradition
Meanwhile, South Korean regulators are also awaiting the extradition of Do Kwon, the controversial founder of Terraform Labs. Kwon faces charges in both South Korea and the U.S. for an alleged $40 billion cryptocurrency fraud involving TerraUSD.
#cryptofraud , #cryptoscams , #cryptoregulation

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!

Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“