Charles Hoskinskon: Joe Biden wants to 'kill the crypto industry'

US President Joe Biden is making a concerted effort to destroy the crypto industry in the country. This was stated by Cardano co-founder Charles Hoskinson.

Biden and Crypto https://t.co/P06encxBEv

— Charles Hoskinson (@IOHK_Charles) May 8, 2024

According to the expert, over the past few years the US government has only “harmed” startups in every possible way. He cited restrictions on access to bank accounts, policies SECto which were added “obstacles” to the legislative process.

The speculation followed the White House administration's announcement of the president's readiness to veto billaimed at overturning SEC guidelines that prevent banks from providing custody services for digital assets.

Biden's advisers stressed that repealing SAB 121 would prevent the SEC from “protecting investors in cryptocurrency markets and ensuring the security of the entire financial system.”

Hoskinson also criticized the Commission for using outdated rules that “should not apply to new and emerging asset classes.”

The entrepreneur named Switzerland, Singapore and Dubai as digital asset-friendly jurisdictions. Those countries are benefiting from millions of dollars in investment from 3,000 firms that “could be based in the US if the policies were smart,” he added.

Separately, Hoskinson called former President Donald Trump’s interpretation of closedness to cryptocurrencies “absolutely wrong.”

Over 20% of respondents in several states consider cryptocurrency a key issue in the upcoming US elections.

Previously, a Paradigm poll found that 48% of voters who own digital assets plan to vote for Trump in the upcoming presidential election. 8% prefer the current head of state, and 13% are undecided.