Peter Schiff, CEO of Euro Pacific Capital and cryptocurrency critic, recently posted on the , which would significantly increase the cost of Bitcoin transactions, further weakening its 'use' case and causing the price to plummet.
Gensler has previously said that with the exception of Bitcoin, most crypto tokens are securities. Schiff pointed out that Gensler "may even change his view on Bitcoin," and he later emphasized in a post: "My idea is that the new regulations will be related to 'anti-money laundering' rather than securities laws." (Bitcoin.com )