"During the last week, a new regulator unleashed a wave of intimidation that would make even Gensler blush, and we didn't hear a peep from the crypto industry. It was a different agency this time, but the behavior was all too familiar: After comedian Jimmy Kimmel made a tasteless joke, the chair of the FCC pressured a TV network to take him off the air."
"The regulator didn't invoke law or due process, but instead warned like a mob boss "we can do this the easy way or the hard way." President Donald Trump then made clear there's more where that came from, suggesting TV networks that cover him negatively should have their licenses taken away. It's the sort of arbitrary abuse of government power that crypto leaders hated when Gensler did it to them. But their response to this similar abuse directed at broadcasters has been crickets-or worse."
In 2021, Gary Gensler led a multi-year federal campaign against the crypto industry, using fines and criminal probes to target American entrepreneurs. Those entrepreneurs organized politically and ousted Gensler and his party, elevating the crypto lobby as a force advocating economic freedom and protection from arbitrary government power. Recently, a different regulator pressured a TV network to remove Jimmy Kimmel after a tasteless joke, warning "we can do this the easy way or the hard way," and President Trump suggested revoking licenses of unfriendly networks. Many crypto leaders remained silent or offered muted responses; a few figures publicly questioned the inconsistency.
Read at Fortune Crypto
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