Cardano (ADA) creator Charles Hoskinson is calling on crypto leaders to mobilize against the US government’s “war” on virtual assets.
In a new video update, Hoskinson tells his 319,000 Youtube subscribers that the federal government is making anti-crypto moves.
Hoskinson is critical of several actions by the government including sending a Wells notice to Coinbase and denying Custodia’s application to become a member bank.
“It is very clear that the executive branch is conducting a silent war against crypto. And this particular executive branch, they say one thing, they do another thing. So publicly they say everything’s great, but then privately there’s chokepoint 2.0.
Publicly, they say we want to embrace these industries, come in and register. And then privately you have Coinbase, 30 different meetings, they’re trying to register, it’s silence and then a Well’s notice. Publicly, they say they want a stable banking system. Privately, Custodia, which is by definition the safest possible banking vehicle for stablecoins, is basically told you can’t get a master account. What do you do with that? It’s not honest.
And this is where the legislative branch has to step up and do its job. It needs to pass legislation to restrain the overreach that we’re seeing right now.”
Hoskinson calls on crypto leaders to take direct action to push back and he praises Messari CEO Ryan Selkis for the recent letter he sent to the U.S. House and Financial Services Committee in support of “effective crypto legislation.”
“So every leader in this industry, you got to do what [Messari CEO] Ryan [Selkis] did – you got to step up. Don’t complain about it, write damn letters. Actually put your voice on the line and tell the legislative branch what you think.”
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