It has been argued that the U.S government has not performed so good in the Cryptocurrency regulation and which might lead to a huge issue.
However, to the proponents of Bitcoin on the arrival of President Joe Biden has opined that it is a step in the right direction for the cryptocurrency.
It is pertinent to state that the former Treasury Secretary wanted to impose herculean rules on crypto industry, and of which the Biden Administration called off and which such campaign was seen to be laced with vendetta against the Crypto industry. The choice of Biden, to steer the affairs of SEC, is professor of MIT blockchain, who clearly understands Bitcoin but may not pursue pro-bitcoin policies.
In comparison with the regime of Trump, that was hostile to bitccoin and crypto, proponents of bictoin opine that is big departure. Also, there is a long way for the United States to initiate policies that will motivate crypto innovation.
Different agencies pursue competing or even contradictory, regulations, which makes the Laws in United States a mess and also the congress is not helping matters, having passed law in 1990 to aid other countries in Internet technology, is now complacent on letting other countries lead the way in Crypto.