The article reflects on the evolution of cryptocurrency's relationship with global politics over the last five years. Initially dismissed by US regulators, cryptocurrency gained traction amid increasing adoption from American citizens, especially during the COVID-19 bull run. A pivotal moment occurred in August 2023 when Judge Neomi Rao ruled against former SEC Chair Gary Gensler’s strict regulations, leading to the introduction of Bitcoin ETFs and a pro-crypto shift in the US government. This shift has resulted in polarizing political landscapes, where institutions like the SEC may rise again under potential future anti-crypto powers. Meanwhile, the regulatory landscape for crypto abroad has become stricter, especially in countries like the UK and Japan, where oversight has intensified. Outsiders such as China and Russia have fluctuated in their stance towards crypto, grappling with balancing control over their financial systems while exploring the disruptive potential of cryptocurrency. Amidst this, sovereign innovators like El Salvador have embraced crypto boldly, attracting interest from other nations. The ongoing tension between regulatory efforts and innovation shows the unpredictable future of cryptocurrencies in a multipolar world.

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