Crypto industry: Combat US authorities’ attack.

The recent actions of the regulators of the United States show that they are planning to prepare strict rules on the crypto industry, and they are not planning to pull back any punches. Over the past few years, the US government has taken some serious actions to regulate the crypto industry. However, since detailed legislation is still long away, the regulators are planning to take alternate measures to shape the rules. As crypto enthusiasts, it is important to counter their actions and protect the industry from the consequences of the policies. 

Also Read: Worldwide Crypto Adoption Index 2022

Crypto Vs US Authorities

For years, the supporters of decentralization were chartered as technological innovation and a large social desire that privileges power distribution. They have argued that the distributed blockchain architecture renders it all, it is yet unstoppable even to those who wish to shut them down. The recent activities of the Government authorities and policymakers reflect their willingness to shut down the technology.

USA Privacy Protocol ‘Tornado Cash’

In August, the treasury of the United States imposed a privacy protocol “Tornado Cash”, on the list of authorized entities forbidding the users to receive or send any transactions for any reason. In case of any transactions, the action is a punishable offense via imprisonment or fines, in the United States. The Treasury quoted, “The tornado cash has failed again and again to impose effective controls that focus on stopping malicious cyber actors from laundering funds”.

Weeks ago, the Security and Exchange Commission made an absurd claim regarding the US jurisdiction over Ethereum in a court filing against an ICO-era YouTuber. The crypto YouTuber, Ian Balina suffered a lawsuit for failing to open up about the compensation he received for promoting Sparkster and its token SPRK.

Last week, the Commodity Futures Trading Commission sued Ooki DAO, which was the first incident to take place and set a terrible example for token holders, and DeFi protocols. The sue took place based on the argument that any token holder participating in governance voting can be blamed for DAO actions.

These above actions have been by far the strictest most aggressive “regulations for enforcement” by the US authorities and often feel like a warning bow across the board. The US government believes in the idea that decentralization immunizes a technology, practice, or arrangement set, which is not the case. We all know that there would come a day when the stone-faced regulators, and the semi-utopian, radically libertarian ideology will drive the crypto narratives.

Also Read: Members of European Parliament Vote For Blockchain to Counter Tax Evasion

What Happens When an Unstoppable Force Meets an Immovable Object?

People are always prone to panic when such quick development of technology occurs. Especially after you have participated in a government vote. Or, using a mixer protocol, or performing any innocuous actions, has never been beneficial to anyone. In such scenarios, rage is never a solution. Generally speaking, the United States requires comprehensive legislation for the crypto industry. You cannot disagree with the fact that anything that travels between congressmen runs at a snail’s speed. The above sanctions and actions of the US government made it clear that the US government will not wait for the regulations, and have started setting norms that are a direct attack on the industry. 

How To Protect the Crypto Industry?

When the rules are set to change, it is important to organize things. The political system of the United States is an uncompromising, and opaque party that makes random changes and always favors the status quotient. Here are some of the things that you can utilize to counter crypto attacks. 

Call Your Congressmen

Any person who leaves a text message or calls in person is at the tip of an angry iceberg. That is going to vote against them in the next election. The more people call, the more effective it is going to be. If you are in such a position, now is the time to look for volunteers who will call in masses to the senator. Since it’s a people’s right to complain to the government if something goes wrong, you can use it. 

Try to Donate

If you have monetary power, it is important to contribute to the causes you believe in. For example, Coin Center advocates for crypto policy based in Washington and identifies and addresses the key issues. To make your donation count, try contributing it to the American Blockchain PAC. It is a political action committee that works to identify the next generation of lawmakers. Moreover, supports the crypto-friendly members of Congress. 

Engage With Your Society

If you want to make a change, search for blockchain enthusiasts in your area, and meet them up every day. You can discuss the blockchain technology possibilities, and take their decisions on crypto policies. Put forward your opinions and take their review. 

Crypto Immunity Requires Advocates

Once the US authorities are done framing the crypto regulations, a need for crypto advocates will emerge. The ultimate goal is not to discourage lawmakers from framing policies to run the crypto space. It is not possible to avoid the government rules, however, you can try to run a seat at the table.

A United Community Forever!

The most vital part of any community including crypto is “UNITY”. A united community signifies shared values, common interests, and similar feelings of support, and fellowship among members. In today’s social world, community helps us to be involved, and survive. The crypto community will also survive with the help of a united community. It is important to be on the same page, and take action with everyone’s vote. Since the crypto sector has a lot of speculations and ideology, people often live in a “media bubble”. However, it is important to the benefits of the crypto asset and counters any regulation against it.