US waging war on crypto, says OpenAI CEO

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US waging war on crypto, says OpenAI CEO

In America, the industry has faced a regulatory crackdown.

The United States are waging a war against cryptocurrencies and want to control Bitcoin, said Sam Altman, the chief executive of ChatGPT developer OpenAI.

I'm disappointed that the US government has done recently, but the war on crypto - which I think is a, like, we can't give this up, like, we're going to control this and all that - that is the thing that makes me quite sad about the country, Altman said.

The SEC and the US SEC filed a civil lawsuit against Binance, the biggest cryptocurrency trading platform, accusing it of mishandling customer funds, artificially inflating trading volume, and attempting to evade U.S. regulations. The market watchdog also charged Coinbase, the biggest crypto trading platform in the nation, with operating as an unregistered national securities exchange, broker, and clearing agency.

The failure of FTX, a Bitcoin exchange in the Bahamas, is part of a growing crackdown on the digital asset sector. FTX was exposed as a Ponzi scheme used to siphon investment funds into the pockets of executives - as well as politicians.

'I'm very worried about how far the surveillance state can go here, Altman said, referring to the government control over money and adding that he is'super against' central bank digital currencies.

The idea of creating a virtual dollar CBDC has been mulled by US policymakers, but Federal Reserve Chairman Jerome Powell said earlier this year that the project could still take years to implement.