Opinion: The Biden Administration Shows Further Malice Towards Crypto Via Signature Closure

Crypto traders just got another taste of the twisted agenda stemming from the Biden administration.

Biden Just Continues to Destroy

Just yesterday, Live Bitcoin News published an article discussing the current fate of Signature Bank. As the latest financial institution to be shut down by regulators, the institution was discussed by former congressman Barney Frank, who served in politics for more than 30 years and eventually went off to become the bank’s director.

In an interview, he said Signature had long been delving into crypto, and that the government simply wanted to send a message to other banks by causing it to shutter its doors. That message was, “You are centralized institutions. Stay away from crypto, or we’ll make your lives miserable.” He was also quick to say the seizure of the bank was a huge mistake, and that despite a high record of withdrawals happening at the time of its closure, the company was in the hands of the federal government long before that.

While we don’t know if his words are entirely true at this time, such a closure sounds exactly like something Biden and his nation and crypto-hating associates would engage in. Since day one, Biden has made it clear he doesn’t think much of crypto, and he wants to ensure all traders and investors don’t have an easy time. For example, his infrastructure bill – signed into law in the summer of 2021 – was not designed to revamp our schools, roads, and hospitals, as the word “infrastructure” would imply.

What it did contain, however, was hidden verbiage created to make things very tight and tough for crypto investors every April 15 beginning in 2024. The bill was simply a way to ensure more tax money could be collected from those with crypto in their portfolios.

Also, not long ago, it was announced that Biden was using an Obama-era program to ensure no crypto company could gain access to the standard financial sector. They could not apply for loans, nor could they have bank accounts or take part in the services or products offered by the standard financial space. It was a silent and secret way of keeping crypto from expanding within America’s borders.

This Sounds Like Something He’d Do

With all this and more under his belt, does one really assume that Biden wouldn’t shut down Signature the way Barney Frank is suggesting? With all this in mind, one can’t help but assume that the fall of Signature is just another staple in the anti-crypto agenda Biden has worked so hard to establish.

There are 19 months left, and then November 2024 arrives. During that time, crypto fans will have an opportunity to turn their backs on Biden for good and vote him out of the White House.

Tags: Barney Frank, Biden, Signature Bank