• Biden and his associates has been accused of using an Obama-era program to ban crypto, known as Operation Choke Point 2.0.
• Biden has been a hypocrite with his stance on crypto, collecting money from companies but then vowing to regulate them after their collapse without offering to pay back funds that had likely been stolen.
• The US government is attempting a widespread crackdown against the crypto industry, which could lead to crypto businesses being completely unbanked and exchanges cut off from the banking system entirely – this would give other countries a competitive advantage over the US.
Accusation of Using Obama-Era Program
Biden and his nation-hating associates have been accused of secretly trying to ban crypto through an Obama-era initiative known as Operation Choke Point 2.0. The plan was designed to cut off any „undesirable“ industries from banking services. This includes crypto, which is presently unregulated by the federal government.
Biden has been a complete crypto hypocrite from day one. He and his constituents collected tons of money from men like Sam Bankman-Fried and garnered quick and easy ties to fraudulent companies like FTX to boost their campaign donations while later turning around and swearing to impose tight regulations on crypto when the firm collapsed without offering to pay the funds back to the people it was likely stolen from.
Nic Carter – a partner at Castle Island Ventures – wrote in a recent statement that some in the crypto space believe that there is currently an attempt by US government authorities using banking sector mechanisms in order to organize a sophisticated, widespread crackdown against the industry. There is further doubt that Protego and Paxos – two additional crypto monetary service companies – will be given permission either by the Fed due this crackdown attempt initiated by it recently prevented Custodia from having a seat at its table too.
Adverse Effect on US
Marcus Sotiriou – a market analyst at digital asset broker Global Block – said that such decision would be detrimental for US itself since it would prevent it getting ahead technology-wise giving other countries including its enemies huge advantage over it in this technology revolution saying “It would result in the rest of the world getting ahead in the important crypto and blockchain technology revolution”.
In conclusion, Biden’s hypocrisy towards cryptocurrency combined with an aggressive crackdown initiated by various governmental authorities signals trouble for those involved in cryptocurrency trading or operations within certain industries deemed “undesirable” by these authorities could potentially be facing serious roadblocks if they can no longer access basic banking services or are cut off entirely from financial markets – something which could harm U.S.’s standing globally relative other countries if they’re able to capitalize on this opportunity first instead