Lummis On Sec Crypto Regulation Says It Will Benefit Bitcoin

The regulation of crypto assets which has been initiated by SEC, how this will be of benefit to the bitcoin and the ecosystem in general?. Well from watching the YouTube session the US Senator Cynthia Lummis is totally right as this will help in eradicating projects which are fraudulent, which will help in taking out bad actors in the system. This will attract more attention to the top dudigst assets such as Bitcoin, ethereum to mention a few.

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“Bitcoin will actually benefit by having some of the bad actors regulated, disclosed and out of the scene. Because for some people they don’t understand the difference between Bitcoin and an altcoin.

And there are a lot of altcoins that are just fraudulent. They are scams. So, they should be under the control and jurisdiction of the SEC. Because the SEC really is good at disclosure and consumer protection.”

She also spoke about ethereum merge which she spoke about the importance of its just concluded merger and how successful it was in her own words;

While Ethereum has touted the advantages of being a proof-of stake-as opposed to proof-of-work, and that means it’s environmentally more friendly and people begin to embrace it, I think that there’s very little understanding of how that can affect its more centralized approach.

One of the people who I think really understands that is Gary Gensler, who’s the head of the SEC, and his voice on these issues is going to be important within this administration.”

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