Some people have called Biden's presidency bad for crypto based on incoming Secretary of Treasury Yellen yelling bad things about crypto like the blatantly false claim that Bitcoin is "primarily used for illicit transactions".
All proposals put forward by the previous administration are now frozen pending review. It remains to be seen whether the Biden administration will go forward with the proposal to force centralized exchanges to do KYC on self-hosted wallets.
Incoming US Secretary of Treasury Janet Yellen
Yellen did not slam Bitcoin as a whole, only from a transactional standpoint. Even if Yellen were to get her way and implement some sort of cumbersome additional KYC rule, it would not change the value proposition of BTC too much.
Also, I don't think this or any other concerns are likely to have too much impact on Bitcoin. The last time around Bitcoin was on a much shakier ground without much institutional involvement and there was a lot of FUD in the air that time around as well.
It remains to be seen how the Biden administration will regulate crypto. They do have a lot more pressing issues on their plate and I do not believe they will necessarily focus too much on cryptocurrencies.
I have to say I'm not pleased about the headwinds Ripple finds itself in right now. But the SEC going after Ripple will most likely put decentralization into sharper focus in the space, which is a good thing.
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