The United States Securities and Exchange Commission has tasted a big defeat in the Grayscale lawsuit, and this has profided fodder to the United States Politics.
US presidential candidates turn bullish on bitcoin
Crypto has already influenced US politics, with Grayscale's court case victory over the SEC prompting politicians to cash in on its popularity.
At this time, except for Biden, all the other major presidential candidates are very bullish on Bitcoin. Kennedy, Ramaswamy, DeSantis, and even Trump are making statements apparently promoting Bitcoin.
Demand to curb agencies like the SEC increased
The SEC has already been blamed for harming the crypto Industry in the US. Various agencies like SEC have been kept free from government control so that they should not take any decisions under political pressure, but now politicians have the opportunity with the excuse that, in the absence of control, these agencies work arbitrarily.
All's Well that ends well
The SEC may be independent of politics, but it is still a government agency, and the court is open to all. Now the SEC will have to be very careful; there are more lawsuits related to crypto going on, for example, Coinbase and Binance. Maybe Gary will now focus on resolving disputes instead of imposing fines and bans.