In a fervent critique, Charles Hoskinson, the mind behind the blockchain platform Cardano, has voiced a stark accusation against President Joe Biden, asserting that the U.S. leader is actively seeking to debilitate the cryptocurrency industry within the nation. These comments were made in a video released on May 9, spotlighting Hoskinson’s deep-seated concerns over the administration’s crypto policies.

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• Charles Hoskinson, founder of Cardano, accuses President Joe Biden of actively seeking to harm the U.S. cryptocurrency industry.
• Hoskinson criticizes the Biden administration for regulatory measures and potential veto against legislation favorable to crypto, highlighting broader issues with SEC guidelines.
• The Cardano founder contrasts the U.S. stance with more crypto-friendly jurisdictions like Switzerland, Singapore, and Dubai, suggesting missed investment opportunities for the U.S.

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Cardano Founder Claims President Biden Aims to Undermine Crypto Sector

Imagine if you had a favorite game, you played all the time, but then someone in charge started making it hard for you to play. That’s what Charles Hoskinson, the guy who created a big online money system called Cardano, says is happening with President Joe Biden and the world of cryptocurrency, which is like an online treasure hunt for digital money.

Hoskinson thinks President Biden and his team are trying to make it very difficult for people to play this digital money game in the United States. He’s upset because the government is making rules that make it hard for people who like this game to do things like use their bank accounts for it, and he feels like they’re just not being fair.

After the White House, which is where President Biden works, said they didn’t like a new idea that would make it easier for banks to be part of the game, Hoskinson got really frustrated. The White House thinks this idea could make it risky for people to invest their money and the bigger money system everyone uses.

Hoskinson also doesn’t like how the government is using very old rules from a long time ago to control this new type of game. He points out that places like Switzerland, Singapore, and Dubai are much more welcoming to people who want to play the digital money game, and they’re seeing a lot of benefits because of it.

Some people mentioned that the president before Biden, Trump, wasn’t a big fan of cryptocurrency either, but Hoskinson thinks what’s happening now is way worse. He believes the current government is actually trying to stop the digital money game from growing.

There’s also talk that the Biden team wants to make things even tougher. For example, China has strict rules on part of the game called Bitcoin mining, which is kind of like digging for digital gold. This has many people worried about how hard it might become to play the game in the future.

If you’re really into this digital money game and want to know all the latest news and tips on how to play better, there’s a newsletter you can sign up for. It will send all the coolest updates right to your inbox, so you’ll always know what’s going on in the world of cryptocurrency.