Charles Hoskinson claims that the US government is fighting against crypto and implores industry leaders to take action

A Cardano (ADA) developer, Charles Hoskinson, has urged other crypto industry heavy hitters to band together in response to the United States government’s “war” on cryptocurrencies.

Hoskinson warns his 319,000 YouTube fans that the government is pursuing anti-crypto measures in a new video update.

Among the government’s measures that Hoskinson finds wanting are the delivery of a Wells notice to Coinbase and the denial of Custodia’s application to join as a member bank.

“The executive branch wage a covert battle against crypto. And the executive branch in question, while saying one thing, does another. Everything seems OK on the outside, but behind the scenes, they’ve reached a new chokepoint.

They have made public statements encouraging people in these fields to sign up. Coinbase, in the background, has held thirty separate meetings to register, only to be met by radio silence and a Well’s notice. They have publicly stated their support for a secure financial system. Custodia, the most secure banking vehicle for stablecoins, is denied a master account behind closed doors.

The legislative body must discharge its duty at this time. It must enact new laws to prevent further expansion of its power.”

Hoskinson urges crypto industry heavyweights to take decisive action in response. He props Messari CEO Ryan Selkis for his recent letter in favor of “effective crypto legislation” to the U.S. House and Financial Services Committee.

According to Ryan Selkis, CEO of Messari, “any leader in this field, you had to do what I did. Instead of complaining about it, write letters about it. Put your opinions on the line by contacting your local representatives.”

Read Also: US Fed rejects Custodia Bank membership over crypto market links

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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