Does hostility to cryptocurrency an ideal political platform?

Looking for articles to read in coinmarkets.today, I found two that tell us the status of the current debate about digital currency. The words that are thrown out there show that the market’s version of digital currency has its defenders even among government regulators and politicians. I love to see when politicians are divided and fighting among themselves about digital currency.

In the first article, it looks like the crypto space has found defenders within the US government in the persons of Congressman Warren Davidson and SEC Commissioner Hester Peirce. Both seem to agree that the current SEC chair Gary Gensler is guilty of abuse and power overreach. Davidson has even declared that he will introduce a new law to remove Gensler from his position. I am not sure if such a move will work or if this is just simple and plain political rhetoric.

I am curious about the nature of the relationship between Paul Grewal, the legal chief of Coinbase, and Warren Davidson. It seems that the Congressman’s announcement to remove Gensler from his post is a response to Grewal’s defense.

Heister Peirce, on the other hand, accused Gensler that instead of welcoming innovation in cutting-edge technology such as cryptocurrency, the latter is embracing the “centralization, expatriation, and extinction” of this new financial technology.

Regulators like Gensler are hostile to cryptocurrency. Perhaps, he is not opposing digital currency as such, but the shift in power from the government to individuals. I wonder what will be his position when it comes to the government’s version of digital currency such as the CBDC.

In the second article, we see that the debate on digital currency space is becoming more alarming as days pass. Not only abuse of power and overreach, surveillance economy, and totalitarianism are the words thrown out there as associated with the governments’ CBDC agenda. This is the opinion shared by “Lynette Zang, the chief market analyst at ITM Trading” and former US Congressman Tulsi Gabbard. Gabbard is even calling that CBDC should be stopped.

I am now becoming more convinced that cryptocurrency will be a hot political issue in the coming days and months. What do you think? Will a time come when those who oppose cryptocurrency will be considered committing political suicide?

Grace and peace!

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