The pro-digital currency institution, Custodia Bank, has spoken about the inability of regulatory bodies to stop Bitcoin and warns that continued suppression of the currency will result in “playing whack-a-mole with problems.” Recently, doubts have increased over a coordinated regulatory attack on the cryptocurrency industry in the United States, as the US Securities and Exchange Commission (SEC) issued a notice to Coinbase on March 22.

Famous Bitcoin trader, Anthony Pompliano, described “Operation Chokepoint 2.0” as a program that goes beyond laws and democratic procedures to impose political views. He acknowledged that the existence of this program has not been officially confirmed and is not expected to be recognized by officials.

Kaitlin Long, Chair of the Custodia Bank Board of Directors, says that authorities have the power to pressure the cryptocurrency industry in the United States, but they will not be able to stop Bitcoin. She added that authorities refuse to accept the idea of losing control of this field and instead try to keep people “on old technology.”

It is certain that digital currencies and fiat currencies will coexist, but when US digital currency companies are forced to move abroad, regulatory bodies will face problems in the future.

In recent years, we have seen an increase in official regulation of the cryptocurrency and encryption industry in the United States, with authorities seeking to increase surveillance of this sector. However, these efforts to control digital currencies and encryption may fail, as it is impossible to stop digital currencies, especially Bitcoin, regardless of regulatory measures.