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 Hoskinson further criticized the SEC for applying outdated laws to regulate modern asset classes, suggesting that this approach is unjustifiable.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
Rakuten Launches XRP Conversion for Loyalty Points

Rakuten has launched a feature allowing users to convert loyalty points into XRP, marking a significant shift in the use of cryptocurrency in retail.

Fellowship PAC Secures $11 Million from Major Financial Players

The Fellowship PAC has received $11 million from Cantor Fitzgerald and Anchor Labs to support political advocacy in the crypto industry.

Fellowship PAC Invests $15 Million in Key Republican Races

The Fellowship PAC has begun its strategic spending by allocating $15 million towards media buys supporting Republican candidates in key races.

Dogecoin Faces Rejection at Key Resistance Level

Dogecoin's recent attempt to break above a critical resistance level has failed, leading to a potential retest of lower support.

Cardano ADA Price Gains Bullish Momentum Amid Market Recovery

Cardano's price is showing signs of bullish momentum, approaching the 0.25 mark, influenced by market recovery and increased whale activity.

Shiba Inu Experiences Surge in Trading Activity Amid Price Stagnation

Shiba Inu is experiencing a surge in trading activity with derivatives volume reaching 16.113 million, while its price remains stagnant below all-time highs.

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