Hoskinson's Bold Accusation

Charles Hoskinson, the mind behind Cardano, has openly criticized the Biden administration's approach towards cryptocurrency.

During a Twitter livestream, Hoskinson didn't mince words, claiming, "The Biden administration has engaged in a coordinated effort to kill crypto." He likened the government's regulatory maneuvers to "Operation Chokepoint 2.0," suggesting a deliberate attempt to deny the crypto industry access to vital financial services.

Controversial Veto Threat

The epicenter of this clash is President Joe Biden's announcement to veto a bipartisan resolution, H.J. Res. 109, which challenges SEC guidelines perceived by many as too restrictive for digital asset innovation.

Despite the resolution's passage in the US House by a 229-193 vote, the White House stands firm on its decision, prioritizing investor protection and financial system stability over what it views as unbridled crypto expansion.

"This November, if you vote for Joe Biden as a crypto holder, please understand that this administration intends to destroy the American crypto industry."

Growing Rift and Political Dynamics

Hoskinson's comments underscore a deepening divide between crypto proponents and regulatory bodies. The crypto community sees the administration's stance as not just regulatory caution but outright antagonism.

This tension is becoming a focal point in the political arena, with former President Donald Trump highlighting his pro-crypto posture, setting the stage for crypto regulation to be a hot-button issue in the upcoming presidential election.