Velvet Capital Advocates for Financial Inclusion Through Crypto
Millions worldwide remain unbanked or excluded from traditional financial systems. Vasily Nikonov, founder of Velvet Capital, believes crypto could bridge this gap, providing financial access to those unable to enter mainstream banking.
Crypto Users Face Unfair Banking Restrictions
Banks can block crypto users even if they follow legal guidelines. Nikonov highlighted how some U.S. banks freeze accounts of individuals who on-ramp and off-ramp crypto frequently, despite no criminal activity. This exclusion leaves many without access to essential financial tools.
Outdated Investment Rules Limit Financial Access
Aly Madhavji, founder of Blockchain Founders Fund, argues that traditional finance creates barriers for those without high net worth. In the U.S., individuals without a million-dollar net worth often can’t qualify as accredited investors, limiting their investment opportunities.
Crypto’s Role in Bypassing Restrictive Regulations
Crypto offers a global solution by removing unnecessary restrictions and expanding financial inclusion. Madhavji supports ensuring education and investment access for everyone, challenging government overreach in financial decisions.
Operation Choke Point 2.0 Targets Crypto Industry
The Biden administration has been accused of reviving Operation Choke Point, a controversial banking crackdown. Originally used to target industries like gun shops and cannabis businesses, critics argue that the policy now restricts crypto firms and tech startups.
Industry Leaders Condemn Banking Crackdown
Elon Musk and Brian Armstrong have criticized the debanking of crypto founders, calling it an unethical attack on financial freedom. Marc Andreessen claims that this crackdown has silenced political opponents and disfavored technologies, reinforcing the need for decentralized finance solutions.
Velvet Capital’s Vision for a Fairer Financial System
As banking restrictions grow, Velvet Capital continues to advocate for crypto adoption as a tool for financial freedom. By ensuring equal access and removing unnecessary barriers, the company aims to reshape global finance through blockchain innovation.