What came out of the congressional hearings about the SEC

 

A couple of days have passed, and now it is possible to calmly discuss the speech of the legendary head of the SEC Gary Gensler at the hearing of the US Congressional Commission.

 

These hearings showed an interesting fact of split in the elite. Several groups with different positions regarding crypto business were very visible.

 

The first group, which actually belongs to Mr. Gensler himself categorically opposes cryptocurrencies as phenomena and consider them exclusively from the point of view of the traditional fiat economy. There, all cryptocurrencies, with the exception of Bitcoin, fall into the class of securities or investment contracts and must be controlled by the SEC. Bitcoin itself, it seems, they reluctantly agree not to touch, but, most likely, such a goodwill is forced and short.

 

For the second group, Bitcoin is just an asset on which you can quickly earn a lot. It was they who lobbied for Bitcoin ATF, and so they opposed Gensler at the hearing.

 

The third group is wary of any government regulation. They have initiated a bill to ban CBDC, are actively engaged in Crypto, and are enthusiastic about the future of the crypto business.

 

There’s a fourth group that everyone knows about, but nobody’s seen. They’re plotting to take over the world with a crypto… if they really exist.

 

You ask what the future will be for the crypto business... Which group will win, that will determine the future. We have only to wait.

 

#SEC #GaryGensler #USCongressionalCommission