Charles Hoskinson on SEC actions

SEC paving way for total surveillance? Crypto giant Charles Hoskinson is concerned and calls on the scene for solidarity. A small group of decision-makers are trying to deprive people of their freedom – evidence of this can be found in the lawsuit against Binance.

SEC paves way for total surveillance? Hoskinson worried

SEC paving way for total surveillance? Crypto mogul Charles Hoskinson is concerned about this threat. The reason for concern is a new SEC lawsuit against Binance . It is about more than just a regulatory conflict. Instead, according to Hoskinson, the agency is trying to seize financial control.

Hoskinson’s thesis is not entirely unpopular in the crypto scene. Officially, the SEC primarily wants to punish violations by Binance of applicable laws. It is about the deliberate deception of customers, the embezzlement of customer deposits and the deliberate circumvention of financial regulations.

Overall, the SEC’s lawsuit consists of 13 separate counts. On Twitter, large parts of the scene see the lawsuit as a direct attack on the crypto industry instead of punishing specific offenses by the crypto exchange.

Binance itself had also announced this opinion in a press release. Another well-known person who subscribes to this thesis is the well-known programmer Charles Hoskinson, who made a name for himself as the founder of Ethereum and Cardano .

Hoskinson believes in a repeat of Operation Chokepoint , which took place under former US President Barack Obama. Ten years ago, the US government under the Democrats tried to destroy unwelcome businesses by imposing strict measures on banks that worked with them.

At that time, politicians had targeted arms dealers and pawn shops, among other things. Now, according to Hoskinson, the crypto industry is in the crosshairs of the authorities.

“As for Binance, I’m currently reading through the SEC complaint. It is over 130 pages long but appears to be the next in a series of steps to implement Chokepoint 2.0 in the United States.” Writes Hoskinson on Twitter.

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Will the US become a dystopian surveillance state?

Hoskinson believes that the SEC has concrete plans to crush the crypto industry in order to stop the proliferation of free currencies like Bitcoin. The ultimate goal is to gain complete control over the financial system.

“The ultimate goal is an agenda-based CBDC, run with a handful of major banks, offering end-to-end control over every aspect of financial life.” Writes Hoskinson.

The principle is well known. Many governments around the world wish for a digital central bank currency. If cash and anonymous or pseudonymous transactions via cryptocurrencies were to be abolished at the same time, governments could monitor every single money transfer. Unwelcome transactions could be censored from the outset and the assets of unwelcome people easily confiscated.

Hoskinson fears that the majority of the US Democratic Party longs for such a surveillance state – above all SEC boss Gary Gensler. He thinks he can find evidence for his theory in the indictment against Binance.

“A regulatory event is a debate about compliance with a law or policy. This event appears to be a philosophical exploration of the existence of cryptocurrencies and what they represent.” Executes Hoskinson.

He continues: “An unelected group of people has decided that concepts such as self-determination, ownership of one’s wallet and freedom to control one’s economic activity should be taken away from the masses and left to the ‘enlightened’ few.”

Charles Hoskinson calls for solidarity

Hoskinson, who has repeatedly expressed his understanding and tolerance of state institutions in the past, calls for solidarity within the fragmented crypto scene.

The current crypto dispute within the USA is a conflict between freedom-loving and authoritarian people. He believes that this event could serve to mobilize hostile groups within the scene and industry to pull together.

“It appears that this event is a perfect opportunity for the entire industry to put its fragmentation behind and advocate for a set of common sense rules and policies that can prevent the United States from sliding into a dystopia that would make 1984 look like a holiday.”

In a subsequent video, Hoskinson elaborates on his considerations. In it he criticizes large parts of international politics. Organizations like the World Economic Forum would work specifically to deprive people of their individual freedom.

“The 21st century is the first century that allows real freedom.” The 35-year-old explains, alluding to cryptocurrencies. Never before have decentralized currencies been possible. It is therefore important for the crypto scene to successfully end the conflict.