Former Deputy Attorney General from Obama Era Issues Cryptocurrency Statement Accuses US Regulators of Acting Intentionally

Former Deputy Attorney General Donald Verrilli, known for his tenure during the Obama administration, has criticized U.S. regulators for their deliberate actions against the cryptocurrency industry. Speaking to Fox Business, Verrilli highlighted that federal regulators are purposefully excluding banking services from the digital asset sector. Despite the sector’s clear need for banking infrastructure, he noted that regulators have coordinated efforts to block such services. Verrilli also referenced ongoing tensions with the SEC, citing Coinbase’s recent legal challenges against the agency and FDIC. He emphasized the urgent necessity for balanced regulatory frameworks to steer the U.S. back on track in managing cryptocurrency innovations.