Republicans are worried that the firearms industry is about to be rendered equal with the cannabis industry, the latter of which still has no legal access to the banking system due to federal discrimination.
Many who cherish the Second Amendment believe that the financial industry is poised to shut its doors to the gun industry, which is why some gun stores are making the switch to cryptocurrency.
Rob McNealy, a Second Amendment supporter, created the Universal Settlement Coin (TUSC) specifically for the gun industry. The cryptocurrency is meant to provide gun stores with a tool that will allow them to provide goods and services outside without interference from the banking industry.
“Cryptocurrencies are increasingly seen as a viable alternative for purchasing goods,” writes Tom Knighton for Free Beacon.
“They exist completely outside of the banking system, which allows stores, suppliers, and customers to make transactions that can’t be cut off by banks worried about their reputation, the primary reason given for cutting off services.”
Tesla recently announced that it will start accepting Bitcoin, joining Starbucks, Microsoft and Home Depot, all of which have done the same.
McNealy decided to create TUSC three years ago in response to the Obama regime’s “Operation Choke Point,” which increased federal scrutiny against the firearms industry.
Operation Choke Point was put to an end during the first few months of the Trump administration, but is now potentially back on the table with China Joe ruling from the White House.
Even after Operation Choke Point was ended, many banks continued to deny services to the firearms industry due to pressure from gun control activists, which is just flat-out discrimination.
According to McNealy, many gun companies never could have anticipated being cut off from financial services. Some of them are now scrambling to put a contingency plan in place.
“No one thought we’d see the de-platforming we do today,” he says.
Spike Tactical, a gun manufacturer based out of Florida, was told by its bank that it had to find other services. The company was also cut off from e-commerce provider Shopify.
“I’d urge a lot of the gun companies to look at crypto,” says Cole Leleux, Spike’s CEO.
Mark Oliva, director of public affairs at the National Shooting Sports Foundation, is taking a different approach. Rather than focus on new financial systems, Oliva wants to preserve a place for the gun industry on the existing one.
“We are focused on eliminating the banking discrimination policies that were allowed to remain in place when the Biden administration ‘paused’ the Fair Access banking rule from publication,” Oliva told the Free Beacon, noting that some of the hardest hit are small gun businesses.
Another threat against the Second Amendment is new legislation proposed by Texas Rep. Sheila Jackson Lee, a Democrat, who wants all gun owners to have to register their firearms with the federal government.
Known as the “Sabika Sheikh Firearm Licensing and Registration Act,” the legislation would turn tens of millions of Americans into felons almost overnight.
“Well, something was going to trigger the civil war,” one of our own commenters wrote. “It most certainly will be this … if nothing worse comes along sooner. A good investment would be to go long on body bag companies.”
“It’s more of a threat to non-gun-owners, as criminals could easily determine what houses can be targeted without threat of being shot,” wrote another, offering a different perspective on Lee’s bill.
More related news about threats against the gun industry can be found at SecondAmendment.news.
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