Former HFSC Chair Patrick McHenry says crypto must lock in its political power now: Congress could be the backstop against a return to the Gensler era "You have sound law and sound regulation, which creates the perimeter. Then we have to have a sufficient market established and a lot of participants." "Let's go forward 2 years. And let's say you have another election, and we don't get an explicitly pro crypto president. And they take out all these regulators, and they wanna push regulation the opposite direction." "To go back to a Gensler era of warfare against crypto. The restriction's gonna be on whether or not we have pro crypto members of the House and the Senate to push back on this." "This incoming Congress is more pro crypto than the Congress from 6 years ago and 8 years ago. Both parties." "So we have to lock in the political power that we have and make sure that we remain popular for these politicians to not go after us. That's our strength." "It is a hugely powerful statement of how far we've come, that politicians have now had to accept. Because they see their constituents like what we're doing in the world of crypto."