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Gensler wants to be the Crypto Czar with full authoritarian power over all crypto, Bitcoin included, and Congress needs to reign him in because he can’t be fired (except under highly unusual circumstances).
Take the +35% increased budget he wants for increased crypto regulation, take away his current crypto budget, take away the CFTC’s current budget, and stand up a new Cryptocurrency & Digital Assets Commission (CDAC) with that money.
This would enable all the studies and reports to come in, Congress to get some clue, and appoint a CDAC Chair whose dual mandate is to balance the adoption of digital assets and related technology in the U.S. with regulation and consumer protection within the space.
Gensler is unhinged and will do far more harm than good.
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