Founder of Quantum Economics: US crackdown on cryptocurrencies may have a negative impact on the US dollar

According to reports, Mati Greenspan, founder of Quantum Economics, believes that US regulators have been unfriendly to cryptocurrencies “from the beginning.”. Recently, the collapse of cryptocurrency and startup friendly banks, including Silvergate Bank, Silicon Valley Bank, and Signature Bank, was seen by some as part of a regulatory plan known as “Operation Choke Point 2.0.”.

Interpretation of this information:

The message informs us that Mati Greenspan, the founder of Quantum Economics, has expressed his opinion that US regulators have not been friendly to cryptocurrencies since their inception. Furthermore, he has singled out several banks that have recently stopped offering services to cryptocurrency-related startups, suggesting that their actions are part of a regulatory plan known as Operation Choke Point 2.0.

It is not surprising that Greenspan views regulators as unfriendly to cryptocurrencies, as they have long been a source of controversy and debate. The decentralized, unregulated nature of cryptocurrencies conflicts with traditional banking and financial systems, which rely on central authorities to operate. Additionally, cryptocurrencies have been criticized for their association with criminal activities such as money laundering and drug trafficking.

The collapse of the banks that once welcomed cryptocurrency and startup clients is concerning. Silvergate Bank, Silicon Valley Bank, and Signature Bank all offer banking services to cryptocurrency companies but have recently halted their services. This has resulted in the companies and startups experiencing operational difficulties and financial distress. The move by the banks appears to align with an Operation Choke Point 2.0 regulatory plan, which Greenspan suggests is focused on preventing banks from working with cryptocurrency-related businesses.

Operation Choke Point was initially launched in 2013 and aimed to throttle fraudulent activity by targeting banks. Specifically, it focused on banks that were knowingly processing transactions for fraudulent debt-relief, payday loan, and other “high-risk” merchants. The operation was shut down by the Trump administration in 2017 after it was deemed controversial and unfair to legitimate businesses.

However, it appears that this regulatory plan has returned, with Greenspan’s suggestion that banks are once again being targeted. It is uncertain why regulators are now focused on cryptocurrency-associated businesses. Still, their actions suggest that they believe cryptocurrencies are a threat to the traditional financial system.

To sum up, Mati Greenspan’s statement highlights his view that US regulators are not friendly towards cryptocurrencies. Furthermore, the recent closure of cryptocurrency-friendly banks is seen as an effort to target crypto-related businesses, ostensibly to prevent them from accessing banking services.