Crypto banned from the USA

[royalfestus]

I was under the impression that the attack primarily targeted Binance, so discovering an attack on Coinbase as well raises concerns. It is important for the SEC to establish the regulations they deem necessary and refrain from making this situation resemble a witch hunt. Interestingly, some prominent figures in the cryptocurrency industry exhibit a higher level of compliance with the law than certain criminals in undisclosed locations.

[o48o]

I was under the impression that the attack primarily targeted Binance, so discovering an attack on Coinbase as well raises concerns. It is important for the SEC to establish the regulations they deem necessary and refrain from making this situation resemble a witch hunt. Interestingly, some prominent figures in the cryptocurrency industry exhibit a higher level of compliance with the law than certain criminals in undisclosed locations.

This thread was made way before CEX attack on Bincance US that happened just now. I guess this seems like part of the choke point but when you look this from a CEX point of view, In their eyes Binance US was basically unlicensed securities exchange working inside US. So what do you think is going to happen?

I find it more astonishing that people are surprised, or maybe they are just acting surprised. I am guessing that Coinbase gets their charges next. That would bring the market down even more.

[Geremia]

In an email with subject "[URGENT] Bitwage Banking Switch - Change of Service Offered" dated today, BitWage said:

Dear Bitwage Community,
The cryptocurrency sector has been facing challenges due to increasing regulatory pressure on the US banking industry, in what many are calling “Operation Chokepoint 2.0”. This pressure has come in the form of SEC Wells Notices, closed-door conversations between regulators and banks, and restricting direct access from crypto-friendly banks to the Federal Reserve. In our commitment to providing you with the highest quality service, we have worked diligently to maintain stable banking relationships amidst this industry crackdown.

[DeathAngel]

Crypto is not going to be banned in the US any time soon especially with an election this year. That would be a good way to lose a lot of potential votes. More exchanges & service providers will be regulated but if they don’t comply with regulations they were probably bad actors any way. I am quite certain crypto is not going to be banned in the US.