US Crypto Crackdown: Will Europe Follow Suit?

• The U.S. government has openly expressed hostility towards crypto and the SEC, under Gary Gensler, is taking a particularly hard line on enforcement against companies in the sector.
• U.S. power and influence may be on the wane due to challenges from BRICS countries creating a common currency that could eventually rival the dollar, but it still has time to use its power in other ways.
• The U.S. is likely aware that enforcing a ban on crypto within its own borders will not necessarily have full, global impact – and so it may attempt to persuade Europe to do the same in order to maximize the effect of their anti-crypto stance.

U.S Government’s Open Hostility Towards Crypto

The U.S government has fully thrown off the veil and is now openly hostile to crypto, using its vast power to influence governments in Europe to follow similar lines and using blunt tools of enforcement rather than discussing how these companies can comply with regulations with Securities and Exchange Commission (SEC) headed up by Chairman Gary Gensler asking for more resources for enforcement actions against crypto companies.

U.S Power & Influence On Wane

U.S power and influence may be on the wane as BRICS countries have announced they will be creating a common currency which could eventually rival the dollar, however this change will take some time so there is still some time left for US power to exert itself elsewhere such as trying to persuade Europe into banning crypto too in order achieve maximum impact of their anti-crypto stance globally.

China’s Failed Attempt To Ban Crypto

The US would know that attempting an outright ban on cryptocurrency within its own borders won’t work given China’s failed attempt at doing something similar previously which shows that even though US might have some control over what happens within its own borders it doesn’t necessarily extend beyond them when it comes down to finance or technology related matters like this one

US Needs Europe To Follow Suit

Therefore if US is going ahead with this anti-crypto stance then it would need more support from other countries especially European bloc if it wants any kind of worldwide impact from their policy decisions therefore US would most likely try persisting European bloc into following suit with what they plan on doing regarding cryptocurrency regulation or banning cryptocurrencies altogether

Next Crypto Bull Market Driven From Asia And Other Regions?

But despite all of this, certain parts of world are totally out of control or influence of US such as Asia where majority population has already adopted cryptocurrencies as an alternative form payment system therefore next bull market might come from these regions or others where people are already comfortable with idea cryptocurrencies being part of daily life instead relying entirely upon traditional banking systems