Former Bloomberg analyst: Cryptocurrency needs to deliver on its promise and demonstrate true decentralization

Former Bloomberg Information analyst Jamie Coutts CMT wrote on X platform that either cryptocurrency needs to be decentralized or it will be regulated as securities. I have always believed that cryptocurrency needs to fulfill its promise and demonstrate true decentralization. The FIT21 Act is based on Hester Peirce's safe harbor proposal: a single issuer may not control more than 20% of digital assets. The devil is in the details, but Hester Pierce's mission is finally being realized. It should be noted that her original proposal was made in 2019, and over the past five years, innovation, employment, and productivity have all suffered, not to mention the behavior of scamming, fraud, and greed that harms ordinary investors. Gary Gensler, along with leaders of Covid regulatory agencies such as the CDC, FDA, and NIH, has become the most politicized and destructive regulator in modern history.