CoinDesk: US authorities are trying to drown the cryptocurrency industry

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

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

“The editorial management believes that"The existential threats facing the US cryptocurrency industry due to recent government actions are enough to warrant taking a stand," CoinDesk said.

The findings were supported by a series of measures from outsideThe Securities and Exchange Commission (SEC) against regulated US crypto companies, including the Kraken and Coinbase exchanges, as well as the commencement of legal action by the Commodity Futures Trading Commission (CFTC) against the Binance exchange.

The situation is aggravated by the fact that inThe President's Economic Report, a policy statement from the US presidential administration released last week, argues that cryptocurrency is not a useful technology and has become a source of dangerous criminal activity.

Reuters reported in March thatThe Federal Deposit Insurance Corporation (FDIC) is requiring potential buyers of Signature Bank to forego all cryptocurrency transactions, effectively denying large crypto companies banking services. The FDIC denied this, but when the bank sale went through, users of cryptocurrency services were indeed excluded from the list.

US government and regulators are pushingnational crypto companies are thinking about moving abroad, because, as journalists from a reputable publication are sure, they are afraid that at home they will not only lose their business, but also will not be able to gain access to their own bank accounts.

Редколлегия CoinDesk считает, что большинство The actions of the US government were more punitive than constructive. Therefore, without a significant change of course on the part of the Joseph Biden administration and regulatory authorities, the perception that the United States is determined to destroy the crypto industry will become firmly ingrained in the minds of market participants and users.

On Thursday, March 30, the SEC presented
accusations against cryptocurrency platform Beaxycarrying out brokerage and clearing activities without proper registration. The commission suspects Beaxy of illegally raising $8 million by placing unregistered securities. The exchange said on its website that it was suspending operations indefinitely.