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 Hoskinson further criticized the SEC for applying outdated laws to regulate modern asset classes, suggesting that this approach is unjustifiable.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
Steak n Shake Reports Increased Sales After Accepting Bitcoin Payments

Steak n Shake has reported increased same-store sales after accepting Bitcoin payments since May 2025.

BNB Chain Enhances Ecosystem with New AI Agent Standards

BNB Chain has rolled out support for AI agent standards ERC8004 and BAP578 to enhance the identity and functionality of autonomous AI agents.

Crypto and Banking Industries Clash Over Stablecoin Yield

Discussions between the crypto and banking industries regarding stablecoin yield have yet to reach a compromise, posing a significant hurdle for the CLARITY Act.

Analysis Reveals Distinct Selling Patterns on Upbit

Dom's analysis of 82 million trades on Upbit shows a consistent negative net selling of XRP, with only one week out of 46 being positive.

CFTC Chair Optimistic About CLARITY Act's Future

CFTC Chair Mike Selig is optimistic about the CLARITY Act's progress in Congress, aiming to establish clear rules for digital asset markets in the U.S.

Stablecoin Reserve Dynamics Shift Amid Market Decline

Stablecoin reserves peaked before a price decline and have since reversed significantly.

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