Fox Business correspondent Eleanor Terrett shared the statements of Donald Verrilli, the former Deputy Attorney General during the administration of former US President Obama.
Accordingly, former attorney general Donald Verrilli stated that US regulators are aiming to exclude the banking sector, especially the cryptocurrency industry.
According to the post, Verrilli said that despite the urgent need for banking services in the digital asset sector, federal regulators have knowingly eliminated banking from the crypto sector and launched a coordinated effort.
“Despite the digital asset industry's urgent need for banking services, federal regulators have waged a concerted and coordinated campaign to eliminate banking from the industry.
Federal regulators knowingly blocked crypto banking services.
Stating that the cryptocurrency ecosystem is still not free from the pressure of the United States Securities and Exchange Commission (SEC), Verrilli referred to the latest lawsuit filed by Coinbase against the SEC and FDIC in his statement.
Verrilli pointed out that despite Coinbase's objections, the SEC continues to file lawsuits against the top companies in the industry, recalling the cases the SEC has filed against important industry players such as Ripple Labs, Uniswap and, more recently, ConsenSys.
Former Attorney General Donald Verrilli recently said that market experts, including himself, think that the USA is starting to decline and that future cryptocurrency regulations are needed to get back on track.
*This is not investment advice.
