But denying the developers of cryptocurrency tools and the creators of cryptocurrency services the ability to manage their dollar funds in U.S. banks is not an anti-fraud measure. It is a daisy-cutter bomb likely to cause indiscriminate carnage.
There is also the risk of crypto becoming politicized. The digital-asset community has often shunned party politics, preferring to uphold larger principles of freedom and personal autonomy. In fact, constructive, bipartisan crypto legislative proposals have largely been the norm – most notably the comprehensive bill sponsored by Senators Cynthia Lummis and Kirsten GIllibrand . But now the perception that the administration is anti-crypto is threatening to destroy that open collaboration.
More broadly, crypto has become a nexus of advocacy for tools that resist the dangerous concentration of digital power in the hands of companies whose hoards of data make surveillance and censorship their primary stock in trade. The worrying rise of surveillance capitalism is a topic of clear concern for many of the legislators whose authority bank regulators currently appear to be usurping.
In this respect, cryptocurrency tests principles of government restraint foundational to the American ethos. The religious, free speech and other rights enshrined in the U.S. Constitution are blueprints for the spread of liberty around the world. They have helped increase human flourishing, happiness and wealth for millions.
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JoeBiden KReyofCoinDesk Crypto should be Crypto instead of being Security or Commodity.
JoeBiden KReyofCoinDesk US will have more to worry when BRICS expands and drops the dollar, uses crypto for cross border payments, maybe It's why the US taken this stand
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JoeBiden KReyofCoinDesk Crypto is a threat to political power to control the people's money period.
JoeBiden KReyofCoinDesk You guys are always wrong
JoeBiden KReyofCoinDesk Decetralized is inevitable. Bitcoin
JoeBiden KReyofCoinDesk The US is absolutely anti crypto. Every crypto company needs to evacuate the US immediately. They are coming for us all.
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It's important that entities all over the world take the time to do their due diligence when looking into the benefits Web3 initiatives have to offer! The push towards a digital future is happening regardless, no one should be left behind.
It's important that entities all over the world take the time to do their due diligence when looking into the benefits Web3 initiatives have to offer! The push towards a digital future is happening regardless, no one should be left behind.
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Source: chicagotribune - 🏆 8. / 91 Read more »