Next Tuesday's Hearing Transcript: The U.S. Government is Plotting a 'Legal Robbery' of the Crypto Market!
Next Tuesday, the U.S. Senate Agricultural Committee will hold a 'Digital Commodity Regulatory Hearing.' The name sounds like an academic seminar, but in reality, it's a 'sword sparring' session for the crypto community. Senators will pull out their stools to listen to a 'complaint session' from exchanges, miners, traditional financial institutions, and possibly even Coinbase executives—after all, the current U.S. regulatory framework for cryptocurrencies has more loopholes than Bitcoin's code.
As an analyst, I must pour a bucket of cold water: the U.S. regulation of cryptocurrencies is shifting from a free-range mode to a precise harvesting mode.
For example: Last year, the SEC's lawsuit against Ripple directly caused XRP to plummet 70%, while this year, after Grayscale won against the SEC, Bitcoin surged violently by 20%. What does this indicate? Before the regulatory boots hit the ground, the market is always a startled bird.
The core conflict of this hearing lies in: the Agricultural Committee wants to expand its jurisdiction over crypto commodities, while the SEC stubbornly insists on the 'security attributes.' It's like two parents fighting over custody of a child, while the child is left shivering in the middle.
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