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You know something is up when the Prime Minister of Canada, Justin Trudeau, comes against Bitcoin and a senior US senator, Elizabeth Warren, sends the Security and Exchange Commission (SEC) to crackdown on Bitcoin and the crypto market as a whole.
My guess is as good as yours as to their reasons. They're probably afraid, especially because they don't understand it. Last year, Justin Trudeau made remarks about Bitcoin being volatile and an opposition leader's promotion of the crypto market being irresponsible. The situation escalated to the point where people's wallets were frozen during a protest against vaccine mandates.
This year, Elizabeth Warren has been trying to steal the spotlight from the libertarian leader in the US. She summoned Gary Gansler, the Chairman of the SEC, to take strict measures on Bitcoin and the entire crypto market. In her own words, the market is scared of a strong SEC. She made these comments at the American Economic Liberty Project. Gary has been in talks with Sam Bankman-Fried for two years and he saw nothing wrong with the way he played the game.
I think Warren either doesn't have a clue what's going on or thinks the general public is blind to it all. She mentioned how the SEC was able to stop crypto influencers by telling them to disclose the amount they were paid. While I think that was a good move for everyone (the crypto market, politicians, and the general public), why would you conclude from that alone that the crypto market is scared of a functioning SEC? The only reason I can think of is that you don't see any good in the crypto market.
The only person who wasn't happy to see Kim Kardashian fall to the SEC for promoting EMAX tokens was probably Kim Kardashian herself.
In my previous post, *I talked about the need for crypto influencers *on Hive, a platform where they could have greater influence by simply using it. They don't have to make it big or lie about it. The support they would receive would be the same support Hive is known to give to everyone (by supporting their posts). They can even tell the truth about it.
My thought is that the SEC under Gary Gansler is not trying to end Bitcoin. I'm sure they are more interested in figuring out how they can benefit from it. They have done some good things, like I mentioned with the crypto influencers, but I say "good" in quotes because I think when they go against the autonomous nature of Bitcoin by attempting to act as a central regulatory body, it becomes a problem.
These are my thoughts. I'd like to know what you think about the whole thing. Can the SEC bring Bitcoin to its knees in any way? Will Bitcoin continue to triumph over these adversities? Leave your thoughts in the comment section below.
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