{"id":19553,"date":"2023-04-06T12:45:24","date_gmt":"2023-04-06T12:45:24","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/south-african-professor-accuses-us-regulators-of-attempting-to-assassinate-crypto-featured-bitcoin-news\/"},"modified":"2023-04-06T12:45:24","modified_gmt":"2023-04-06T12:45:24","slug":"south-african-professor-accuses-us-regulators-of-attempting-to-assassinate-crypto-featured-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/south-african-professor-accuses-us-regulators-of-attempting-to-assassinate-crypto-featured-bitcoin-news\/","title":{"rendered":"South African Professor Accuses US Regulators of Attempting to ‘Assassinate Crypto’ \u2013 Featured Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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The United States\u2019 attempts to \u201cassassinate crypto\u201d are illegal and unlikely to succeed because \u201ccrypto is global,\u201d Steven Boykey Sidley, a South African professor and author, has argued. According to Sidley, many formerly U.S.-based companies and innovators have fled the country and have set up bases in countries with more \u201ccomfortable\u201d regulatory environments. <\/strong><\/p>\n

The United States\u2019 Agenda Against Crypto<\/h2>\n

Steven Boykey Sidley, a South African professor of practice at JBS, University of Johannesburg, has accused U.S. regulators and departments of orchestrating what he described as coordinated and \u201cpossibly illegal\u201d efforts to \u201cassassinate crypto.\u201d Sidley insisted that there are no moral or legal grounds justifying the attempts to take out BTC<\/a>, particularly when the world is in the midst of a banking crisis sparked by banking failures in the U.S.<\/p>\n

In his op-ed<\/a> published by the Daily Maverick, Sidley points to the U.S. Federal Reserve\u2019s \u201copaque and non-explanatory\u201d reasons for refusing<\/a> to grant a national banking license to Custodia Bank as one example of how U.S. authorities are attempting to kill crypto. According to the professor, the bank and its founder Caitlin Long were committed to reducing risks and boosting depositors\u2019 confidence \u201cthat their deposits into crypto-exchanges were backed 1:1.\u201d<\/p>\n

Sidley asserts in the op-ed that the U.S. Federal Reserve\u2019s abrupt and inexplicable withdrawal from its engagements with Custodia suggests that the United States has a sinister agenda against cryptos.<\/p>\n

Coordinated Attacks<\/h2>\n

Meanwhile, Sidley also highlighted how U.S. regulators have seemingly coordinated their actions against crypto entities.<\/p>\n

\u201cCuriously coincidental in time, sometimes happening within hours of a seemingly unrelated announcement from some different corner of government. Keep in mind, some of the bodies are supposed to be entirely independent \u2013 they are designed not to collaborate for excellent reasons of conflict avoidance,\u201d Sidley said in the op-ed.<\/p>\n

Despite what he sees as illegal acts by U.S. regulators, Sidley, the co-author of the book Beyond Bitcoin: Decentralised Finance and the End of Banks, insisted powerful opponents like U.S. senator Elizabeth Warren are still unlikely to get their way, because \u201ccrypto is global.\u201d He claimed that many formerly United States-based companies, developers, and innovators have already moved to places like Dubai, Hong Kong, Singapore, and Switzerland where the regulatory environment is more \u201ccomfortable.\u201d<\/p>\n

What are your thoughts on this story? Let us know what you think in the comments section below. <\/strong><\/em><\/p>\n

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\nTerence Zimwara <\/h6>\n

\nTerence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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