According to TechFlow, on October 15, according to Bitcoin.comNews, Utah Republican Senator Mike Lee recently pointed out the three major regulatory risks facing the cryptocurrency industry at the Permissionless III cryptocurrency conference: the creation of central bank digital currencies (CBDCs), decentralized state regulations, and strict federal regulation. Lee emphasized that cryptocurrencies should be viewed as a medium of exchange, not a security or commodity. He even advocated that capital gains should not be taxed, saying: "I don't think we should tax the capital gains that are transferred."
Congressman John Curtis echoed Lee’s sentiments, criticizing the government for excessive intervention. “We shouldn’t come to you to trouble you, we should be your protector,” he said. Both politicians likened the growing regulation of digital assets to financial surveillance and expressed concerns about CBDCs.
