Mike Lempres, who was chairman of Silvergate and previously spent two years as Coinbase's legal chief, wrote in an opinion piece in the Wall Street Journal this week that the "federal government is finally changing course after four years of vilifying cryptocurrencies and using legally dubious policies to force companies to bend to its will."
While the crypto industry at large is rallying around that message, many in Congress are focused on making the case that banks were targeting conservatives for their political views. Carter said lawmakers are trying to reach a wider audience because "most regular folks don't care about crypto."