Part 2/11:
Around this time last year, the cryptocurrency sector faced intense scrutiny. Under the leadership of SEC Commissioner Gary Gensler, the SEC initiated a wave of lawsuits targeting numerous crypto companies for allegedly selling unregistered securities. The prevailing viewpoint within the SEC was that nearly all cryptocurrencies—excluding Bitcoin—should be classified as securities and thus fall under stringent regulatory controls. This position posed a grave threat to the growth and sustainability of the broader crypto industry, prompting dissent from influential crypto figures.