The author highlights the importance of deregulation for the success and growth of the cryptocurrency industry. They compare the slow ascendency of Voice over IP (VoIP) to the potential trajectory of blockchain technology, emphasizing that competition and deregulation are key factors in the dominance of a technology. However, the author notes that the Securities and Exchange Commission's (SEC) regulatory intervention has cast a pall over the industry, and the appointment of a new SEC chair under the Trump administration may offer an opportunity for change. The author suggests that the industry must continue to expand retail adoption and work with allies in Washington to implement permanent legislative solutions to ensure long-term success and protection against future regulatory challenges.



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