As Inflation Soars and Gas Prices Reach Record Highs, Biden Regime Focuses on Crypto Crackdown
The Biden administration is cracking down on cryptocurrency amidst severe national economic woes, including rising inflation and soaring gas prices.
Biden is going to issue an executive order that will impose severe regulations on cryptocurrency. They are using the Russia/Ukraine conflict as a pretext to impose these authoritarian restrictions. A popular crypto trading app, Coinbase, arbitrarily froze the accounts of thousands of Russians yesterday.
The Treasury’s Financial Crimes Enforcement Network is telling Wall Street firms to be “vigilant” in helping them enforce sanctions that will hurt and impoverish the Russian people. “Although we have not seen widespread evasion of our sanctions using methods such as cryptocurrency, prompt reporting of suspicious activity contributes to our national security and our efforts to support Ukraine and its people,” acting Director Him Das said in a statement.
Biden’s coming order will compel the Treasury Department to develop policies restricting the flow of digital money. They will request for the State Department to align American cryptocurrency laws with those of allied globalist nations, in order to facilitate a massive worldwide crackdown on crypto.
“We will continue to look at how the sanctions work and evaluate whether or not there are liquid leakages and we have the possibility to address them. I often hear cryptocurrency mentioned and that is a channel to be watched,” Treasury Secretary Janet Yellen said last week.
Additionally, the Federal Reserve is looking into creating a digital currency that will be a means to prop up the fledgling dollar, as Big League Politics has reported:
“The U.S Federal Reserve, the central bank that has overseen massive inflation of the dollar since its inception in 1913, is thinking of dabbling in cryptocurrency.
The Fed issued a preview of a report on Thursday in which they discussed the idea of creating a cryptocurrency of their own, weighing the pros and cons of such an endeavor.
“We look forward to engaging with the public, elected representatives and a broad range of stakeholders as we examine the positives and negatives of a central bank digital currency in the United States,” Fed Chairman Jerome Powell said in a statement.
While a central bank creating a cryptocurrency seemingly defeats the idea of crypto in general, the Fed is likely exploring the idea to hasten the transition toward a cashless society. Fed analysts have pined for a cashless society and a digital dollar for many years as it would drastically increase their power.
“We are looking very carefully about whether we should issue a digital dollar,” Fed Chairman Jerome Powell said to the Senate Banking Committee last year. “As the reserve currency, we have the responsibility to get this right rather than be the first.”
“The economy is a long way from our employment and inflation goals, and it is likely to take some time for substantial further progress to be achieved,” Powell added, noting that the digital dollar would allow the Fed to increase inflationary measures that would help giant banks…
The Biden regime is doing all it can to prop up a financial system that is crumbling. Their desperate actions may hamper the rise of crypto for a short period but will ultimately be ineffective in stopping the revolution of freedom and technology in money.