President Biden recently vetoed legislation that would have allowed trusted financial institutions to custody Bitcoin, indicating his lack of support for the cryptocurrency industry.
The vetoed bill aimed to enhance security, promote innovation, and facilitate growth in the Bitcoin industry, but Biden's action portrays a negative stance towards cryptocurrencies.
Biden's administration supports a Central Bank Digital Currency (CBDC) over Bitcoin, seeking greater control over citizens' finances.
The Department of Justice's arrest of Samourai Wallet founders for money laundering, criticized by Senator Lummis and whistleblower Edward Snowden, further exemplifies Biden's anti-Bitcoin actions.
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