The Biden Administration Is Hostile To Cryptocurrencies, Just Like China

( – Democrats despise anything they can’t control. China banned cryptocurrencies in 2021 for that very reason. It seems like Joe Biden’s administration and its agents are slow-boiling digital currency frogs in the same fashion.

Our traditional money supply is tightly regulated, the federal government controls the printing and minting of additional currency through its partnership with the Federal Reserve Board. It allows them to control or at least adjust the inflation rate, and they can control interest rates on loans in order to facilitate or chill economic activity at the macrosocial scale.

This allows for opaque decisions made by unnamed, unelected bureaucrats with very little public input or notice. The wizards of the dollar make their decisions and the rest of us plebeians have no say. With cryptocurrencies entering the market, their ability to control financial transactions and the money supply dwindles rapidly.

Bitcoin is the opposite of a traditional money supply. Its mechanics are controlled by its users, the majority of whom can adjust its parameters as needed. Everything is transparent, from the source code to alterations or changes. Authority over the currency is decentralized and democratic.

Authoritarians like control. It allows them to do things like print endless amounts of currency for their agenda items even if the public doesn’t support the move. Crypto threatens their iron-clad control by offering an alternative, and Biden’s lackeys (and handlers) really don’t like that.

In January they deployed an opening salvo against Paxos, the company that offered dollar-based stablecoin, which is a digital block-chain-based asset that is tied to the dollar’s value. Under threat from Biden’s SEC, it stopped minting stablecoins. In February, they made a similar move against Kraken, another digital currency exchange, demanding they cease allowing users to stake Ethereum, which is locking it into a digital account that allows it to gain interest over time.

With Republicans now in control of the House, and Biden’s administration hostile to decentralized currencies, we’ll likely see a battle looming on the horizon over Americans’ financial freedom to exchange digital assets as the dollar’s value continues to plummet due to gross mismanagement.

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