TechFlow reported on October 15 that according to Bitcoin.com News, Republican Senator Mike Lee of Utah recently highlighted three major regulatory risks facing the cryptocurrency industry at the Permissionless III crypto conference: the creation of central bank digital currencies (CBDCs), fragmented state-level regulations, and stringent federal oversight. Lee emphasized that cryptocurrencies should be treated as a medium of exchange rather than securities or commodities. He even argued against taxing capital gains from crypto transactions, stating, "I don't think we should tax capital gains on transfers."
Representative John Curtis echoed Lee's views, criticizing excessive government intervention. He said, "We shouldn't be coming after you; we should be protecting you." Both lawmakers compared increasing digital asset regulation to financial surveillance and expressed concerns about CBDCs.
