Consider this. The same people who profit from the fiat system came to bitcoin and obstructed its revolutionary inovation by perpitrating the same fiat schemes, unabaded by regulatory precidents. Now after associating Bitcoin with crypto scams they have drawn regulatory intervention. The regulators are likely to use the crypto scams as a mandate to crack down on all crypto, including Bitcoin. Who knows the outcome, but it will be Binance and Coinbase thrashing it out with the SEC that determines the outcome. It's in their interest to create barriers to entry that favor large entities with the resources for compliance, thus creating a moat for large centralised firms like Binance and Coinbase. It was probably their game plan to push boundaries until they broke, then while pleading ignorance, be intimately involved in setting regulatory framework to set them selves up behind a regulatory moat.

Bitcoin needs to be differentiated from the rest of crypto. We are not in this together. We are not the same. The SEC are not our friends, but neither are Coinbase or Binance.

#Bitcoin #SEC #Binance #Coinbase