I read today this article: https://www.coindesk.com/policy/2023/06/02/us-house-republicans-push-for-crypto-oversight-with-bill-to-make-sec-play-ball/
Apparently, the House Financial Services Commission and Agriculture Committee leaders (Republicans) are pushing for the bill. However, they will need Democrats support. In the bill they allow for cryptocurrency exchanges to make the case for cryptocurrencies as commodities with the SEC being allowed to challenge it. It looks like the cryptocurrency exchanges will need to prove no more than 20% of a cryptocurrency is controlled by a party, that it is truly decentralized.
I am not going to go further into detail about the article or the bill, you can read the link provided. I am posting this because it is something I believe cryptocurrency needs to move forward towards mass adoption. The bill looks to be a good idea, we will see if it is not just a good idea, but actually a GOOD idea that is functional. In it, it would put all cryptocurrencies under control of cryptocurrency exchanges if they register appropriately with the various government agencies outlined in the bill.
If this, or something like it passes, it will bring a great and sustained bull run.
I know regulation is coming, I just don't know when. Again, as I recently posted there has already been legal decisions made that will affect cryptocurrencies such as the "major questions doctrine." Also, the soon (hopefully) decided Ripple case against the SEC will play a role in the future of cryptocurrencies.
