Bill Hagerty, a U.S. senator from Tennessee, said that the real motivation behind the recent SEC lawsuit against two major exchanges is to eliminate possible competitors to central bank digital currencies (CBDCs). The Biden administration wants to stifle market innovation and pave the way for CBDCs, which will facilitate the federal government and help them gain unprecedented insight into people's lives. It makes no sense to allow a company (Coinbase) to go public and then prevent it from trying to register. (Bitcoin.com)