Ok now the fights in the US administration and among regulatory bodies is now on full steam. SEC chairman Gensler got pushed back by a New York judge regarding the SEC's stance on all digital currencies being securities and he is also in a fight with Behnam, the head of the CFTC, about ETH not being a security.

Now the Silvergate liquidation is becoming a reality and something else was hidden in the budget of the Biden administration's proposal: "a phased-in 30 percent tax on the electricity used in cryptocurrency mining". The administration argues that it "is hindering the transition to a low-emission energy future."

But the interesting part about all of this is that Biden is taking risks as well with his "all-out assault" on cryptocurrency. 50 million US citizens and voters own cryptocurrency. It is impressive to read that cryptocurrency may no longer be a topic that can be neglected in terms of presidential elections. Who would have thought that in 2010?

Sad to see though that obviously all of this trouble does impact Bitcoin's price at least in the short term: