Regulate the regulators... "quis custodiet ipsos custodes" as Juvenal said. And then the next tier of regulators will have to be regulated too. Just effing let us do what we want to with our "pretend currencies that don't affect the economy anyway"!? Or maybe not. I simply don't know.
Not being an American, and not keeping up much with politics at all, I miss the tags I usually see after a name - REP/DEM - which tells me at least what side of the big divide someone represents, even if that sometimes can get muddled too.
No, I don't rememember who said that crypto is "pretend currencies that don't affect the economy anyway" or even if that is the correct wording. But anyone who thinks so can just stay away from trying to regulate it, please. It's not needed, right, it's just pretend? Go regulate the pretend money in the Monopoly game instead - I've seen kids use what they won in one game to trade for candy from their parents and siblings, giving them the edge in the next game! Horrible!
The congressman leading the charge on this are Republicans. It definitely varies when it comes to each individual politician, but from what I see it does seem that the Republican party is generally more crypto-friendly.
To provide some context, currently President Biden (Dem) is trying to clamp down on crypto and any supposed "loopholes", while another Democrat named Elizabeth Warren is basically on the warpath against crypto and is one of Gary Gensler's biggest supporters.
I personally think the Democrats attacking crypto is going to lose them support from the American youth and crypto enthusiasts. Which could help crypto- if crypto-friendly politicians take their place in the next election.
Thanks :) I agree that the Democrats will probably lose some votes on this. Or perhaps, as you say, anti-crypto Democrats will be replaced by pro-crypto Democrats!