The SEC's intensified scrutiny of the cryptocurrency sector has raised significant political concerns, particularly as it prepares for upcoming hearings in Congress. With SEC Chair Gary Gensler facing criticism for his aggressive enforcement approach, including a recent Wells notice issued to OpenSea, lawmakers from both parties are questioning the agency's resource allocation and potential overreach. The House Subcommittee on Digital Assets is set to hold a hearing on September 18, featuring testimonies from former SEC officials and crypto industry leaders, who will address the implications of Gensler's policies. Additionally, the UK crypto industry is struggling with a lengthy registration process imposed by the FCA, leading to high rejection rates for crypto firms. Furthermore, a recent Supreme Court ruling has expanded the ability of plaintiffs to challenge federal agency actions, which could impact the crypto industry's legal strategies against the SEC if a proposed bill limits the timeframe for such challenges. The evolving regulatory landscape is creating uncertainty for both US and UK crypto firms, as they navigate stricter compliance measures and potential legal hurdles.