Custodia Bank CEO Caitlin Long criticized regulators and lawmakers in Washington, DC for their “misguided crackdown” on the cryptocurrency industry and for ignoring her warnings about major “fraud” allegedly committed by now-defunct entities. Long claims that regulators and lawmakers ignored her warnings about a 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 was titled “Shame on Washington, DC for shooting messenger who warned of crypto debacle.” In the post, Long claimed that the government’s approach failed to protect investors and alienated good players in the space. Long said that “Washington’s misdirected enforcement would simply drive dangers into the shadows, allowing regulators to play hit-a-mole as risks repeatedly pop up in unexpected areas.”

Long emphasized that with his digital asset custody firm, he “has been exposing the worst of crypto by trying to establish a legal and compliant alternative that relegates scams to the dustbin.” This is something that she has been doing for quite some time. For quite some time, she has been constantly involved in this activity. On the other hand, it seems that the vast majority of politicians in the world today are intent on rooting out innovators who maintain high standards of honesty.

He made the claim that his attempts to collaborate with government agencies were ultimately thrown in his face. She is the CEO of Custodia Bank, and was recounting a series of unfavorable run-ins her company has had of late when she made the accusation.