{"id":1647087,"date":"2022-09-19T11:53:15","date_gmt":"2022-09-19T15:53:15","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1647087"},"modified":"2022-09-19T11:53:55","modified_gmt":"2022-09-19T15:53:55","slug":"crypto-outrage-over-bidens-sweeping-misguided-regulations","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/crypto-outrage-over-bidens-sweeping-misguided-regulations\/","title":{"rendered":"Crypto outrage over Biden\u2019s sweeping \u201cmisguided\u201d regulations"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcrypto-outrage-over-bidens-sweeping-misguided-regulations%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1647087&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/crypto.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<h5>Chanel Rion \u2014 OAN Chief White House Correspondent<br \/>UPDATED 8:40 AM PT \u2013 Monday, September 19, 2022<\/h5>\n<p><i><span>Despite a\u00a0bleak\u00a0week for the Biden economy\u00a0the\u00a0White House plowed forward to alienate those in the\u00a0Wild West\u00a0of crypto currencies.<\/span><\/i><\/p>\n<p><span>As Wall Street continues to buckle under the\u00a0weight of persistent\u00a0Biden spending policy, the White House announced more bad news, Friday introducing a\u00a0sweeping\u00a0wish list for how it wants to regulate\u00a0Cryptocurrencies. The first framework of its kind,\u00a0crypto advocates panned the Biden\u2019s framework as one that fundamentally misunderstood the very nature of cryptocurrency.<\/span><\/p>\n<p><span>Biden\u2019s new cryptocurrency regulation framework comes six months after he signed an Executive Order calling on federal agencies to devise\u00a0recommendations on regulating the financial Wild West of Cryptocurrencies.<\/span><\/p>\n<p><span>Recommendations include ways to crack down on fraud and making cryptocurrency transactions easier and more accessible. According to the Federal Trade Commission, crypto fraud in the US neared $1 Billion since 2021.\u00a0<\/span><\/p>\n<p><span>The Biden\u00a0recommendation taps into existing regulators like the Securities and Exchange Commission and the Commodity Futures Trading Commission.\u00a0<\/span><\/p>\n<p><span>But the Crypto world is outraged. Upon release of the policy framework from the White House, Crypto analysts and proponents erupted on Social Media \u2013 their criticisms grounded largely\u00a0in the antagonistic\u00a0spirit of the White House\u2019s approach. That the Biden\u00a0Administration\u00a0is treating the Crypto world as the villain and enemy in\u00a0the\u00a0financial space in need of a crackdown.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The worst thing about the new regulation is the White House had a chance to allow crypto to thrive with oversight and create a brand new sector for job creation and tax revenue<\/p>\n<p>They want you to fail and will stop at nothing to achieve it <\/p>\n<p>The American Dream is d3ad <a href=\"https:\/\/t.co\/P8n8DjnFfu\">https:\/\/t.co\/P8n8DjnFfu<\/a><\/p>\n<p>\u2014 WendyO.eth\u2728 (@CryptoWendyO) <a href=\"https:\/\/twitter.com\/CryptoWendyO\/status\/1570762562035388416?ref_src=twsrc%5Etfw\">September 16, 2022<\/a><\/p>\n<\/blockquote>\n<p>Indeed, the Wall Street Journal reports Biden\u2019s Department of Justice is set to establish a Crypto Crime Unit.<\/p>\n<p>Blockchain Association President Kristin Smith issued a statement in response citing Biden\u2019s framework as less than helpful and fundamentally misguided:<\/p>\n<p>\u201cWhile intended to be part of a broader government and stakeholder effort to bring better regulation to crypto assets, these reports focus on risks \u2013 not opportunities \u2013 and omit substantive recommendations on how the United States can promote its burgeoning crypto industry.\u201d<\/p>\n<p>Substantive recommendations that would position the government as a beneficiary of the Crypto world rather than its adversary. Smith argues the Biden White House missed an opportunity to embrace crypto as an emerging new financial sector and in its short-sided positioning, is dismissing the possibility of new jobs and tax revenue.<\/p>\n<p>Another major warning sign out of Biden\u2019s framework is the White House\u2019s lean toward establishing an official US digital currency (CBDC). A move many in the crypto space argues, obviates the very nature of having an untraceable, government free currency.<\/p>\n<p>Critics of an official US Digital Currency warn the creep toward digitizing the US dollar is a gateway for population control \u2013 where citizens and daily actions from energy use to exercising their 2nd\u00a0Amendment could be monitored and in turn, controlled by big government.<\/p>\n<p>A path upon which America is headed should Biden\u2019s regulation wish list and a centralized digital currency become reality.<\/p>\n<h4>MORE NEWS: <a href=\"https:\/\/www.oann.com\/blackrock-defends-woke-esg-capitalism-wv-ag-morrisey-hits-back\/\">Blackrock Defends Woke \u201cESG\u201d Capitalism- WV AG Morrisey Hits Back<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>Chanel Rion \u2014 OAN Chief White House CorrespondentUPDATED 8:40 AM PT \u2013 Monday, September 19, 2022 Despite a\u00a0bleak\u00a0week for the Biden economy\u00a0the\u00a0White House plowed forward to alienate those in the\u00a0Wild<\/p>\n","protected":false},"author":1209,"featured_media":953585,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1647087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1647087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1209"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1647087"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1647087\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/953585"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1647087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1647087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1647087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}