Certainly possible but I think these bearish scenarios are pretty unlikely anytime soon, especially given the resource limitations (hiring freezes and budget restraints) that both leaders and many Senators stipulated throughout the hearing.
I see the biggest takeaways as the hyperfocus on fraudsters and Ponzi schemers — which we should be rooting for if we’d like to see more casual investors enter the space.
Second this.
Time-frame for all of these will be a while, especially given the level of coordination they are looking to have before taking action. Just some themes to be mindful of moving forward. Note that even positive regulation is often negative for price initially.