The regulatory arm of the US government has been known to go after cryptocurrencies and affiliated companies without holding back in the past.
Over the last two years, regulatory bodies like the CFTC and the SEC have implemented crackdowns on Bitcoin, digital currencies, and companies.
Sam Altman, the CEO of ChatGPT, in a recent interview with Joe Rogan, has addressed these issues and more. In this article, we will be going over the details of Altman's standings as regards regulation, digital currencies and CBDCs.
Sam Altman, in the interview on the Joe Rogan podcast, has warned that the government is waging "war" on crypto and wants to "control" Bitcoin.
Altman, in the interview, expressed his concerns about the government's growing control over money and trying to keep tabs on its citizens.
Altman also said that he is "super against" central bank digital currencies (CBDCs).
If you didn't know what a CBDC is, they're cryptocurrencies too, but are much like government-issued cryptos.
I'm disappointed with what the U.S. government has done recently. The Government wants to control [bitcoin and crypto]. This makes me quite sad about the country
said Altman
CBDCs can be controlled, manipulated and tracked, unlike other forms of crypto.
The US government has discussed creating a CBDC in the past. This comes in at a time when there are mounting fears of the US government using these CBDCs to keep tabs on its citizens.
However, Federal Reserve Chair Jerome Powell has said that such a technology is still many years away.
Altman says that he is fascinated by bitcoin and that the idea of a global currency that cannot be controlled by the government is "super logical" and has the best chance of becoming a "universally viable currency."
So far, the US government's crackdown on crypto has been nicknamed "Operation Choke Point 2.0" after the original 2013 Operation Choke Point.
In detail, the original "Operation Choke Point" was a program the government used to discourage banks from doing business with certain types of companies like arms dealers and others.
The goal was to make it more difficult for these companies to operate and to protect consumers from fraud.
Altman says that the US government is now using a similar approach to crack down on crypto companies.
The government is pressuring banks to stop doing business with crypto companies, which is making it more difficult for these companies to operate.
This is despite how Altman has been repeatedly criticized over his involvement in the controversial Worldcoin crypto project.
In detail, the Worldcoin project is a relatively new blockchain-based project that aims to create a database of people by scanning their eyes in return for some of Worldcoin's cryptocurrency ($WLD)
So far, the US government's crackdown on crypto has been nicknamed "Operation Choke Point 2.0".
Despite the government's crackdown, however, Altman remains optimistic about the future of crypto.
Altman's comments are a sign that the US government is serious about cracking down on crypto.
However, it is important to note that the government is still in the early stages of developing its regulatory framework, explaining the SEC and CFTC's lawsuit spree against Binance and several others.
Despite the uncertainty, Altman's comments are a reminder of the importance of decentralization.
One of the key benefits of crypto is that it is not controlled by any government or central bank. This means that it is more resistant to censorship and manipulation.
Altman's comments are also a reminder of the importance of privacy. If a CBDC is ever implemented, the government would have too much control over its citizens' money.
Altman's remarks remind us about how important decentralization is, and that independence from government or central bank control is one of the benefits of crypto.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.