• The U.S. government is now openly hostile to crypto, and the SEC has been actively obstructive towards crypto companies in an attempt to protect the power of the dollar.
• The U.S. may be trying to influence other countries in Europe to adopt a similar stance against crypto, although its own power and influence is waning due to the emergence of alternative currencies such as those backed by BRICS countries.
• However, even if successful, a ban on crypto within just U.S. borders may not lead to the full crushing of this industry, as evidenced by China’s failed attempt at doing so previously.
U.S Government Hostility Towards Crypto
The U.S government has publicly expressed its opposition towards cryptocurrency with Chairman Gary Gensler leading the Securities and Exchange Commission (SEC) in an effort to enforce regulations against crypto companies rather than sitting down and discussing solutions for compliance with regulations. This decision appears to be motivated by an effort to protect the value of the dollar from superior payment systems arising out of innovation within the cryptocurrency sector.
U.S Power Waning
The United States‘ power and influence appears to be diminishing with emerging alternatives such as a common currency proposed by BRICS countries which is expected to rival – and possibly replace -the dollar as a reserve currency eventually. Although these changes will take time, it is likely that the US still has some control over its global position for now but needs more support from Europe in order for any anti-crypto measures taken domestically to have an effect on its opponents globally .
China’s Failed Attempts
It seems that banning cryptocurrency within just U.S borders may not lead to a full suppression of this industry as witnessed by China’s failed attempts at doing so previously; thus making it necessary for other countries around Europe and beyond follow suit in order for any significant damage or deterrence from cryptocurrency activities worldwide can be achieved .
U.S Influence on European Governments
The US could potentially use their political might and banking system leverage over other governments in Europe in order convince them into also taking similar stances on cryptocurrencies like they did themselves; however it remains unclear whether such influence would have any meaningful effect without evidence that points towards success seen elsewhere first .
Next Bull Market Driven From Asia?
Despite what could prove difficult times ahead for cryptocurrencies given US efforts at eradicating them from their shores, certain regions around Asia are nonetheless predicted by many investors and analysts alike as having potential for driving future bull runs regardless of how this issue pans out .