Blockchain Association expressed:  “This week’s hearing with SEC chair Gensler has re-sparked a false narrative: that crypto is a partisan issue. D.C.’s reflexes may make it seem that there is a big divide on the promise of this tech, but beyond a few well-known partisans, we think crypto enjoys wide support.

Some ground rules: “main street” is very crypto curious + engaged about the future of digital finance. Case in point: According to Statista, ~2/3 of Americans are expected to use digital banking by next year. Crypto will be a big part of those services for many people.

What about investors? According to a recent Gallup poll, 6% of investors own Bitcoin, up from 2% in 2018. That number jumps to 13% when we look at the large 18-49 yo demographic. Hard to think of a more bipartisan issue than supporting a tech that ~18M young ppl care about.

Giving Americans the tools to control their financial futures is surely a prospect both parties can and should embrace. Even chair Gensler once said that crypto “could be a catalyst for a change in the world of money and finance.” He’s right, crypto will change everything.

End/ Politics is theater + often magnifies outlier perspectives on hot button issues, like crypto. We think crypto is a tech for and by the people, one that is a vital and growing catalyst of the US economy Partisan politics is the norm. Crypto is here for good.”

Community response:  I’m sure more than 13% of that demo smokes pot, and look at where we are with federal cannabis policy.

Meanwhile, Jake Chervinsky expressed, we have two weeks left until fiscal year end for the SEC & CFTC. I have no inside knowledge of any impending actions, but won’t be surprised if we see crypto enforcement activity from either and both agencies soon.

He also pointed to how The BitMEX cases came right after the tweet made by Jake Chervinsky on September 28, 2020:  The SEC & CFTC both end their fiscal year on September 30. There’s often a flurry of activity at this time as both seek to bolster their performance reports & budget requests. For example, the EOS settlement came out September 30 last year. This week could be interesting.

Community were like:  Can’t you see they don’t want to regulate anymore. They want to crush crypto. Look what has been going on globally these last two years with personal freedoms. Do you think they will leave a system where people can achieve financial freedom alone to thrive.

Looks like it’s all planned to control the crypto market. People start complaining in public about regulation and then get sued.

Most of us agree it is necessary for this market to mature and evolve from being viewed as a Ponzi or a Fraud to something more legitimate. Hopefully by then coins will demonstrate actual utility.