He’s trying to change some dumbass SEC rule and make it a requirement thay communication protocols register as exchanges, no bullshit bitcoin has a nice write up on it.

Believe it is because they believe there is solicitation of financial transactions on these communication networks. Imagine forcing Facebook, Twitter, Bytedance, Reddit etc all to register as exchanges lol I imagine if they are their lawyers will sue and the taxpayers will be stuck footing the bill to pay the feds to litigate it.

Also zero chance any network with any decentralization and open source protocol would even be able to register as something like that. Probably all just another political farce to try and control speech online