The SEC is the problem. And Governments. And banks.
Discussion
Why is the SEC the problem? The SEC is a problem for crypto scammer. And yes, crypto needs to be regulated. The sooner the better.
State interference in free markets is the problem.
What good did the SEC do when FTX and Luna scammed millions?
Half the politicians investigating SBF literally took money from him ffs.
You are mixing up things. Politicians taking money from scammers and other criminals is not new and has nothing to do with regulations.
The SEC can not secure customers from every scam. It's a regulator. They are slow and they are sometimes wrong. But they are doing their jobs. And the SEC is fighting crypto because most of them are scams. Maybe all of them.
But the SEC already got it, that bitcoin is not crypto. This is far more than any regulation in Europe. Gensler said "Satoshi vision is real". SEC told coinbase they should stop trading everything but bitcoin. SEC said bitcoin is a commodity, everything else is securities.
If this is not pro bitcoin, I don't know what. Gary Gensler is a bitcoiner. That's for sure.