Home » Dogecoin » Crypto Faces Banking Woes, This Non-Profit Presses Government for Answers

The Block chain Association (BA), a non-profit organization based in the United States, requires local regulators to provide information about companies with login passwords that have been exposed to eliminate credit. Over the past many months, some of the best-known participants in the field have lost account access conditions, techniques for solving currency transfers in circulation, and so on.

The bankruptcy of Silicon Valley Bank, Silvergate and Signature, three important commercial banks suitable for encryption, is bound to add fuel to the fire. The burgeoning industry has lost its main financial partner, and the United States is still on the offensive at a time when many people are scrambling to find new homes for their assets and get paid.

Does the US government intend to withdraw the credit business of encryption companies?

According to an official announcement, the BA requires the Federal Deposit Insurance Corporation, the Federal Reserve system Software Federation and the Bureau of loan Engineering Supervisors to provide information. Non-profit groups claim that these institutions may have "improperly caused" the bankruptcy of encrypted banks.

As mentioned earlier, the blockchain Association shows that emerging industries can only set up new accounts without these institutions, but there are many difficulties. Statements from non-profit organizations:

The field of login passwords is building next-generation Internet and financial information services. This is an important job that has created hundreds of thousands of jobs in the United States. The company needs a bank account to pay employees, suppliers and taxes. In the United States, these are reasonable and legal companies and should be treated like any law-abiding company.

Jason Chervynskiy, the blockchain's chief current policy officer, claimed that the nonprofit had received worrying reports that the company had lost its account without notice or statement. In that sense, Chervynskiy feels that the US is trying to remove this emerging industry from the financial system.

This development strategy is likely to be fatal for such companies and the field of digital currency. If British Airways can prove that US regulators have misused its right to attack encryption, he may make it clear that she is "violating the rules" and carrying out illegal activities. Chervynskiy said:

It may take a long time to get a response to the provisions of the Random Information Act, but we will strive to share as soon as possible the information we can. In the meantime, people need your help. If the elimination of credit business is directly related to you or your business, we would like to know.

Companies can share information through the following email addresses:[maintained by email]. The BA confirmed that all information and information will also be kept confidential.

Sleeping with fish, message from the United States

As Bitcoinist reported this week, there are growing rumors in this emerging industry about the role of the United States in bank failures that apply encryption. Myers Donald, a former US congressman and member of the supervisory board of signed financial institutions, feels that US regulators have sent an "anti-encrypted message".

Before regulators shut down the financial company, Donald claimed it had capital adequacy and operational capacity. In this sense, the former US congressman added:

I think part of what happened is that regulators need to send a strong anti-encryption message. The reason why we are role models is that according to the fundamentals of stocks, there is no broken capital chain.

Some community members feel that the US government will carry out a protective action in this area, which is called "throat 2.0 behavior". Based on this concept, the United States is trying to obliterate the financial capacity of this emerging industry by disconnecting the conditions of access to banks in the host country.

Recent events, and the key rules of British Airways, seem to prove that short-board behavior is likely to be true and effective.

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