Cardano Founder Accuses Biden Administration of 'Crypto Killing' Effort

By: Isha Das

Cardano's creator, Charles Hoskinson, has levelled accusations against the administration of U.S. President Joe Biden, stating a deliberate initiative to overwhelm the crypto sector in the country. The criticism followed President Biden's intention to veto a bipartisan resolution stirring controversy in the crypto space.

According to Hoskinson's comments on a Twitter livestream, the Biden administration is implicated in a 'coordinated effort to kill crypto', and he terms their regulatory tactics as 'Operation Chokepoint 2.0'. The reference implies a planned move to deny the crypto industry crucial banking services.

Interestingly, the crypto community seems to perceive this pro-SEC White House veto as the final strike. Even with the bipartisan support for House Resolution H.J. Res. 109, urging the U.S Securities and Exchange Commission (SEC) to withdraw their bulletin on digital asset custody accounting, the White House holds firm. Due to these unfoldings, crypto regulation is set to pose a significant topic in the forthcoming electoral climate.