Balaji Srinivasan, a prominent figure in the cryptocurrency community, has spoken out against what he calls a “coordinated assault” on Bitcoin. Srinivasan made the comments on Twitter after sharing a summary by law firm Cooper & Kirk, which had previously sued various US regulatory bodies.
Hard to deny now that there is a coordinated assault on Bitcoin. But freedom will push back, at national and state level.— Balaji (@balajis) March 28, 2023
“The agencies’ backroom war…is unlawful and unconstitutional…Congress should perform its duty and rein in these regulatory abuses.”https://t.co/zjko7aKWQK https://t.co/rw0AF8vpW0 pic.twitter.com/zWUDOKFe1p
The summary argued that the agencies’ actions amounted to an “unlawful and unconstitutional” “backroom war” against cryptocurrencies, and called on Congress to intervene. Srinivasan echoed this sentiment, writing: “Freedom will push back, at national and state level.”
Srinivasan’s comments come amid growing regulatory scrutiny of the cryptocurrency sector, with many governments seeking to clamp down on what they see as a threat to financial stability. However, Srinivasan remains bullish on Bitcoin, predicting last week that its price could reach $1 million by June 17 due to the weakening of the US dollar.
Despite the challenges facing Bitcoin and other cryptocurrencies, many investors remain optimistic about their long-term potential. this is not financial advice!
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