What started as a trickle is now a flood: the US government is using the banking sector to orchestrate a sophisticated, widespread crackdown on the crypto industry. And the administration’s efforts are no secret: They’re made clear in memos, regulatory guidance and blog posts. However, the breadth of this plan – which spans nearly every financial regulator – as well as its highly coordinated nature, makes even the steeliest-eyed crypto veterans nervous that crypto businesses could end up completely unbanked, stablecoins stranded and unable to manage flows in and out of crypto,…
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- Sunday, June 4, 2023