While Gary Gensler, nominated to chair the SEC, was evasive on specifics at yesterday's Senate Banking Committee hearing, he was far more supportive broadly-speaking than many expected (especially after Yellen's lies):
"Bitcoin and other cryptocurrencies have brought new thinking to financial planning and investor inclusion," said Gensler.
"I'd work with fellow commissions both to promote the new innovation but also, at the core, ensure investor protection. If something were a security, for instance, it comes under security regulation, under the SEC."
That provided some relief for crypto investors, but the last 24 hours have seen a great deal of news.