• The U.S. government has openly expressed hostility towards cryptocurrency and the SEC, led by Chairman Gary Gensler, has been actively enforcing regulations on crypto companies.
• U.S. power and influence may be waning as the BRICS countries are creating a common currency to rival the dollar, but for now the U.S. can still use its power to try to persuade other countries to follow suit in banning crypto.
• If the U.S could get Europe on board with this ban, it would have a much larger impact on the global crypto industry; however, it is likely that Asia and other regions will drive the next bull market in crypto regardless of what happens in Europe and America.
U.S Government Hostility Towards Crypto
The U.S government has fully thrown off the veil and is openly hostile to cryptocurrencies, even going so far as to use enforcement tools rather than sit down and discuss how these companies can comply with regulations with the Securities and Exchange Commission (SEC) headed up by Chairman Gary Gensler leading efforts against them.
U.S Power Waning?
As BRICS countries are creating a common currency that is expected to eventually rival the dollar, this could potentially lead to a fall of power for U.S., however for now they still have some leverage over their global standing due to military might and political clout that they can use in order to try and persuade other countries follow suit in banning cryptocurrencies if they chose too – though such huge global changes would take time before any real effect could be seen from them
Europe Key For Larger Impact
If the US could get Europe on board with their anti-crypto stance then this would have an even larger impact upon global cryptocurrency industry that just within US borders alone – something which China found out when they tried their own crackdowns against cryptocurrencies within their own country’s borders only for markets outside of China pick up more steam afterwards
Asia To Drive Next Bull Market?
Regardless of what happens in Europe or America it is likely that Asia will be driving most of next bull market when it comes down cryptos – especially since many countries are already beginning open themselves up more towards blockchain technologies as well as digital currencies like Bitcoin
It remains yet unseen what kind of damage control will occur if both US & Europe decide on joint anti-crypto stance together but one thing is certain: Cryptocurrencies are here stay regardless of current attitudes from governments around world – only time will tell how things pan out between two financial giants