💼 Kamala Harris Campaign’s Crypto 'Reset' Faces Tough Scrutiny
As the Harris campaign promises to rebuild relations with the crypto industry, skepticism is on the rise. The US Federal Reserve's crackdown on crypto-friendly banks raises doubts about the sincerity of this reset. On August 9, the Fed issued a 13-page enforcement action against Customers Bank, one of the few crypto-friendly institutions left in the US. This move, according to Tyler Winklevoss, is part of "Operation Choke Point 2.0," aiming to restrict which crypto businesses can access banking services.
Winklevoss argues that such decisions should be in the hands of individual banks, not the Fed. Charles Hoskinson, Cardano's founder, shares this concern, warning that a Harris presidency could escalate what he sees as a "war on crypto."
The Bigger Picture 🌐
This scrutiny comes as part of a broader US government crackdown on crypto, which has already led to the collapse of several crypto-supportive banks. The growing tension underscores the fragile relationship between the US government and the crypto industry, raising important questions about the future of digital assets.
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