Cardano founder Charles Hoskinson criticized President Joe Biden, suggesting that the U.S. government is intentionally attempting to undermine the cryptocurrency industry within the nation. Hoskinson emphasized the government's detrimental impact on the industry, referencing various restrictions such as limited access to bank accounts and regulatory policies enforced by the Securities and Exchange Commission. Most recently, he highlighted the White House's interference in the legislative process related to cryptocurrencies. Specifically, the administration expressed opposition towards a resolution intended to reverse SEC guidelines discouraging banks from custodying digital assets. This statement came shortly after the House of Representatives approved a joint resolution to overturn a regulation known as SAB 121 which received strong opposition from the White House. Hoskinson further criticized the SEC for applying outdated laws to regulate modern asset classes, suggesting that this approach is unjustifiable. He also pointed out the favorable environment for crypto businesses in other countries like Switzerland, Singapore, and Dubai, hinting that the U.S. could have benefitted from these investments had the crypto policy been more rational. Despite some pushback on his remarks regarding the previous administration, Hoskinson maintained that the Biden government is actively seeking to suppress the crypto industry. In a previous incident, it was reported that the Biden Administration urged Congress to target the American Bitcoin mining sector, mirroring China's approach.
Title: Charles Hoskinson Accuses President Biden of Efforts to Harm Crypto Industry

by Giorgi Kostiuk
2 years ago

Other news
RLUSD's Movement Signals a Shift in Global Trading

RLUSD's movement onto Ethereum signifies a transformative shift in global trading mechanics, acting as a bridge asset between Ethereum and XRP Ledger.

Binance Offers Temporary Relocation to UAE Employees Amid Regional Tensions

Binance has offered its employees in the UAE the option to temporarily relocate due to ongoing regional tensions.

James Wynn's Trading Account Plummets Amid Market Recovery

Popular trader James Wynn's Bitcoin trading account has plummeted from nearly 100 million in profits to less than 1000 due to high-leverage trading and market volatility.

Securitize to Launch Currenc Group Equity as Digital Token on Solana and Ethereum

Securitize plans to issue Currenc Group equity as a digital token on Ethereum and Solana, combining security and speed for tokenization of real-world assets.

New Guidelines Seek to Improve Reporting Quality.

A new editorial policy has been established to ensure accuracy, relevance, and impartiality in reporting.

XRP's Design Offers Greater Protection Against Quantum Threats Compared to Bitcoin

Experts suggest that XRP's design minimizes exposure to potential quantum attacks compared to Bitcoin.

Be the first to know about crypto news every day
Get crypto analysis, news and updates right to your inbox! Sign up here so you don’t miss a single newsletter