CoinDesk: US authorities are trying to drown the cryptocurrency industry

Article reading time:
2 minutes.

The editorial board of the CoinDesk portal, commenting on the recent actions of the federal government, suggests that behind them is a coordinated attempt by the authorities to harm the digital asset industry.

In his analysis of the situation aroundof American crypto companies, the editors of the news portal CoinDesk suggest that the actions of the US government and regulators are aimed at ousting industry representatives abroad.

The editorial board believes thatthe existential threats that the U.S. cryptocurrency industry has faced due to recent government actions are enough to take a stand,” CoinDesk said.

The conclusions were facilitated by a series of measuresThe Securities and Exchange Commission (SEC) against regulated U.S. crypto companies, including the Kraken and Coinbase exchanges, as well as the Commodity Futures Trading Commission (CFTC) initiation of legal action against the Binance exchange.

The situation is aggravated by the fact that in the "EconomicPresidential Report, a political statement by the US administration released last week proves that cryptocurrency is not a useful technology and has become a source for dangerous criminal machinations.

In March, Reuters reported thatThe Federal Deposit Insurance Corporation (FDIC) requires potential buyers of Signature Bank to refuse all transactions in cryptocurrency, effectively denying banking services to large crypto companies. The FDIC denied this, but when the sale of the bank took place, users of crypto-currency services were indeed delisted.

The US government and regulators are pushingnational crypto companies to the idea of ​​moving abroad, because, according to journalists of an authoritative publication, they should be afraid that at home they will not only lose business, but will also not be able to access their own bank accounts.

The editorial board of CoinDesk believes that the majorityThe actions of the US government were more punitive than constructive. Therefore, without a significant change in course from the Joseph Biden administration and supervisory authorities, the notion that the US is determined to destroy the crypto industry will be firmly rooted in the minds of market participants and users.

On Thursday, March 30, the SEC filed
accusations of the cryptocurrency platform Beaxy incarrying out brokerage and clearing activities without proper registration. The commission suspects Beaxy of illegally raising $8 million in the placement of unregistered securities. On its website, the exchange said it was suspending operations indefinitely.