Just before writing this, I caught a little bit of the congressional hearings in the United States where the chair of the FCC, Gary Gensler, testified and was questioned by both side of the political scale. Gary has been quite active lately, going after exchanges and crypto coins and tokens one after the other. There appears to be no rhyme or reason to his actions as he lashes out declaring everything his hands can reach “a security”.

The rules themselves are a bit wishy-washy, especially when it comes to crypto - thanks to the lack of regulations. In the absence of clearly defined and written down regulations, it’s kind of left to one man to do as he pleases, and do as he pleases he has. His actions have been mainly to the detriment of innovation in the US as crypto business simply closed shop, packed up and left the shores to favourable lands. Billionaires are doing the same.

Notwithstanding, there are cryptos that are looking good in the coming bull run. Someone the ones that were previously promising, like OMG and MIR, have now been hit by the Gensler hammer. One that almost certainly will be exempt from any such witch-hunt is Polygon Matic. Why? Well, Big Pharma, Big Junkfood and Big Sport loves it. Nike, Starbucks and Coca-Cola have picked Polygon as the project on which to launch their NFTs and, in so doing, enter the Web3 world of the near future. We crypto people don’t like this development much since we’re mostly anti-establishment with a particular disdain for “Big Pharma”, but a win is a win.

What has this got to do with Gary Gensler and the FCC? Well, that’s what the video’s for innit.

Peace & Love,

Adé