Governments expected to crackdown on cryptocurrencies
 

Thanks to US banks buying politicians

According to Kraken CEO Jess Powell, the US political system could lead to a global crackdown on cryptocurrencies.

Kraken's CEO said he feels the US is more "shortsighted" than other nations and "susceptible" to the bribes pressures from the banks that stand to lose from crypto becoming a big deal.

Powell said that fortunately, it might be too late for that as the "genie's out of the bottle and just trying to ban it at this point would make it more attractive. It would certainly send a message that the government sees this as a superior alternative to their currency".

Nevertheless, Kraken fears that governments around the world may start to clamp down on the use of bitcoin and cryptocurrencies.

"I think there could be some crackdown. Cryptocurrencies have surged in value lately, with bitcoin hitting a record high price of more than $61,000 last month. The world's most valuable digital coin was last trading at around $60,105."

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