‘A Vote for Harris Is a Vote Against the American Crypto Industry,’ Says Cardano CEO

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As a seasoned observer and participant in the dynamic world of digital currencies, I have witnessed the ebb and flow of regulatory attitudes towards cryptocurrencies over the years. My personal journey began with mining Bitcoin back in its infancy, and since then, I’ve seen the industry grow exponentially.

Regardless of the ‘Crypto for Harris’ initiative and efforts to shape Kamala Harris’s image within the cryptocurrency sector, it appears that major industry players remain unconvinced about the Democratic leadership. In fact, Charles Hoskinson, CEO of Cardano, stated that the White House is engaged in a conflict with cryptocurrencies.

Cardano’s Charles Hoskinson – No Crypto Reset With Harris

According to the leader of Cardano, the Harris camp’s depiction of a “reset” in cryptocurrency doesn’t seem accurate. Instead, it appears that the situation may be even more challenging than before. Voting for the Vice President would essentially mean going against the American crypto industry, he further stated.

In reaction to Tyler Winklevoss’ latest tweet criticizing the Federal Reserve for its ongoing actions towards crypto-focused banks, and stating that a modern version of Operation Choke Point is currently being implemented, Hoskinson voiced his opinions.

To put it simply, the stance of the Biden-Harris administration seems unwavering in its perceived opposition towards cryptocurrencies. This situation doesn’t show signs of changing, and in fact, it appears to be intensifying. A vote for Harris could potentially be interpreted as a vote against the growth and development of the American Cryptocurrency sector.

— Charles Hoskinson (@IOHK_Charles) August 9, 2024

In addition to this, Tyler Winklevoss raised doubts about why the “Crypto for Harris” group was established when Vice President Harris has not yet declared her stance on cryptocurrency. Just a day prior, representatives from the U.S. crypto industry had a Zoom meeting with White House officials, criticizing them for the inconsistent actions by the SEC and Federal Reserve towards American cryptocurrency companies.

SEC Subpoenas Three Crypto VCs

According to sources privy to the SEC inquiry, it appears that the U.S. Securities and Exchange Commission (SEC) has served subpoenas to no fewer than three venture capital firms specializing in cryptocurrency. As reported by DL News, these subpoenas were labeled “investigation into certain crypto asset offering intermediaries.” Contrary to Harris’ proposals for a crypto reboot, this action seems to contradict those plans.

“The team at the U.S. Securities and Exchange Commission is currently examining the situation mentioned earlier to find out if any breaches of federal securities regulations might have taken place,” as reported by crypto lawyer MetaLawMan regarding this recent development.

As an analyst, if the news I’m seeing is accurate, it appears that Gary Gensler is taking a firm stance against various aspects of the cryptocurrency sector. Given this development, it might be prudent for members of Congressman Ro Khanna’s roundtable to become more alert and consider the implications thoroughly.

Attorney Fred Rispoli commented that the SEC often requests all contracts. “This is similar to the court’s decision on Ripple‘s XRP sales contracts being classified as unregistered securities transactions,” he explained. “If a similar situation arises, they may initiate a lawsuit and collect a multimillion dollar fine. Repeat this process.”

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2024-08-10 05:46