Recently Brett Sherman was nominated to chair of Investor Protection, Entrepreneurship and Capital Markets. He will surely have the power to influence bills that can get introduced into Congress. He has been incredibly anti-bitcoin and will surely try to pass bills that will stifle the growth of the industry. Also recently BIS head has been advocating Central Banks begin to use digital currencies for themselves. This will surely play out as a way to out-compete crypto.
https://www.bloomberg.com/news/articles/2019-12-05/bis-wants-central-banks-at-center-of-digital-cash-revolutionDiscussion: How can they community rally together for what is to come? Are we ready for when governments restrict / sanction any capital flow into exchanges? How prepared are we for these things?
I'm afraid bitcoin will soon plummet in the future if Sherman really taxes high on people who make money from bitcoin and ban crypto activities in his country. But there are some who think this will not matter much because China is one of the countries that hold the most bitcoins. Therefore, there will certainly be a decrease in bitcoin if there is bad news but letting bitcoin die is impossible. I just hope that Brett Sherman will not be too strict with crypto and not ban many activities for this decentralized market.