Caitlin Long, chief executive officer of Custodia Bank, has criticized authorities in Washington, D.C. for their misdirected campaign on the crypto market and for dismissing her warnings of huge fraud performed by now-bankrupt firms.

CEO of Custodia Bank Blames Government for Alienating Decent Actors and Failing to Safeguard Investors

The policy on crypto regulation has failed to protect investors. It has alienated decent actors in the field. It also pointed out in a blog post named Shame on Washington, DC For Shooting A Messenger Who Warned of Cryptocurrency Debacle on February 17.

She has long proclaimed that she is working to create a legitimate, compliant alternative to the frauds that plague the crypto industry through her technology platform custody service. Yet, most legislators in the modern era appear dedicated to eliminating inventors. The CEO of Custodia Bank blamed the recent string of bad run-ins her company has had on the fact. Her attempts to collaborate with government authorities were finally flung back in her face.

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She has gone on record saying that she is aiming to call the worst out of cryptocurrency while seeking to develop a legitimate one.  It relegates frauds to the garbage heap via her virtual currency custody service. Yet, today’s legislators, in general, appear utterly incapable of eliminating the high-integrity challengers.

Custodia Bank CEO Blames Unresponsive Government Authorities for Recent Run-Ins

The CEO of Custodia Bank blamed the recent series of unpleasant run-ins her company has had on the fact that her endeavours to collaborate with government authorities were finally pushed back in her mouth. Her views are shared by others, like Coinbase CEO Brian Armstrong. The authorities like SEC have been unresponsive to the company’s good faith efforts to keep the lines of communication open.

Armstrong, in a prior post this month, also lamented the absence of regulatory certainty in the United States. It looks to be a regulating by enforcement strategy in light of the SEC’s decision to suspend Kraken’s staking operations.

On Twitter, Long said that she and others would have sought to forewarn Washington and assist law enforcement in stopping big fraud before the collapse of many crypto organizations in 2022, but was unable.

According to Long, she was the first to publicly reveal that she had given over proof to enforcement agencies.  It was regarding an unidentified crypto firm months before another company crashed. It also lefts its millions of users with losses.