US Wants to Block the Exits before Digital Dollar Devaluation: Balaji
- US officials lobby the UK and Canada to tighten restrictions on the crypto industry.
- Coinbase’s ex-CTO said it’s a move to block the exits before the digital devaluation.
- Canada has restricted citizens to a $30k limit a year of specific cryptocurrencies.
Reports have emerged that US officials, including Gary Gensler, the chairman of the Securities and Exchange Commission (SEC), have been lobbying their UK and Canadian counterparts to tighten restrictions on the crypto industry.
Balaji Srinivasan, a former chief technology officer at the Coinbase crypto exchange, describes the action as an attempt to “block the exits before the digital devaluation of the dollar.”
According to Eleanor Terrett, a Fox Business journalist, the US is persuading other countries to follow in their footsteps and clamp down on cryptocurrencies. Terrett noted that the UK’s Financial Conduct Authority (FCA) is reportedly preparing to announce tighter restrictions on the crypto industry in the coming weeks.
However, a crypto lawyer with …
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