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60 sats \ 1 reply \ @freetx 22 May \ parent \ on: President Biden and SEC Chair oppose major crypto bill hours before voting bitcoin
Or the other possibility is let them try to regulate 16,000 self-certified shitcoins.
The SEC shouldn't exist and it doesn't do anything good, so maybe this is the thing to push them into self-destruction and irrelevancy.
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10 sats \ 0 replies \ @grayruby 22 May
Fair point. I do think this will actually benefit Bitcoin in the long term but probably not in the short term.
Crypto has been crying for years about lack of regulatory clarity and now they have a pathway to pretty much do what they want and see if the market actually wants their garbage. I think likely in the long term it pushes the market to realize it is all trash but after much chaos.
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