The Chief Executive Officer of Custodia Bank, Caitlin Long, has criticized regulators and lawmakers in Washington, D.C. for their “misguided crackdown” on the cryptocurrency industry and for ignoring her warnings of major “fraud” allegedly committed by now-defunct entities. Long claims that the regulators and lawmakers ignored her warnings of major “fraud” that was allegedly committed by now-defunct entities. She referred to this kind of regulation of the bitcoin business as a “misguided crackdown.”
Long criticized the government for its approach to crypto regulation in a blog post that was published on February 17, 2019, and titled “Shame On Washington, DC For Shooting A Messenger Who Warned of Crypto Debacle.” In the post, Long claimed that the government’s approach failed to protect investors and alienated good actors in the space. Long said that “Washington’s misdirected enforcement would just drive dangers into the shadows, allowing regulators to play whack-a-mole as the risks repeatedly show up in unexpected areas.”
Long stressed that with her digital asset custody firm, she has “been calling out the worst of crypto while attempting to establish a legal, compliant alternative that relegates scams to the trash bin.” This is something that she has been doing for quite some time. Since quite some time, she has been consistently engaging in this activity. On the other hand, it seems that the vast majority of politicians in today’s world are intent on eradicating the innovators who maintain high standards of honesty.
She made the allegation that her attempts to collaborate with governmental bodies were finally flung back in her face. She is the chief executive officer of Custodia Bank, and she was just so happening to be recounting a string of unfavorable run-ins her company has had in recent times when she made the allegation.