The US Treasury has tried everything in its power to shut down crypto assets.
Cardano founder Charles Hoskinson shared this news late in October 2021 when speaking in South Africa during a pan-Africa trip. “The Treasury’s attempt to give limitations in the developing crypto world has not deterred or disappointed me,” he said in Cape Town, South Africa.
Regulators have been increasingly vigilant against fraudsters, money laundering, missing coins, investor exploitation, and ransomware.
Federal Reserve policymaker Neel Kashkari stated that cryptocurrencies are 95% fraud, hype, noise, and confusion. He even called cryptocurrencies garbage coins.
The crypto exchange was previously under investigation by the Justice Department and the Internal Revenue Service for possible money laundering and tax fraud. The agencies have purportedly been investigating the corporation for months, but no sentences or actions issued.
Against Disappearing Coins
Had issued a warning about emerging cryptocurrency problems like fraud, redundancy, and implicit runs in more stable ways. Crypto in all its incarnations, had gone global.
According to Hoskinson, the US Treasury Department tried everything possible to eliminate the crypto business. This is from an October tour. HE SAID the US administration wanted to crush a $2 trillion sector in their backyard, referring to the crypto world.
Market participants intend for nonsupervisory transparency in the developing crypto room. Participants expect nonsupervisory clarity in the emerging crypto room. As bitcoin’s acceptance and value grew, so did authorities’ scrutiny.
For example, since the start of 2021, Cardano’s ADA (according to Binance) has grown almost 2,000 percent. It has a market capitalization of over $70 billion. Cryptocurrencies are also long captivating for crooks, given that they are decentralized, and ownership is tough to trace.
In late September, the US Treasury Department, responsible for protecting systems crucial to the US financial system, banned its first crypto exchange. The government indicated that it would let Russian-owned Suex continue bowdlerizing financial dealings for ransomware perpetrators, assuming that 40% of the exchange’s transactions were related to criminal activity.
Thus, the US Treasury Department recently prohibited a group of speakers aimed at crypto corporations for assisting the government in combating ransomware payments that are not trackable on the blockchain. In late September, however, Federal Reserve Chairman Jerome Powell stated that he had no intention of banning cryptocurrency.
