A leaked memo has revealed that Democrats are unifying their stance on cryptocurrency regulation, criticizing Republicans for not prioritizing investor protection and consumer interests. The memo accuses Republicans of prioritizing the Commodities Futures Trading Commission (CFTC) over the U.S. Securities and Exchange Commission (SEC) in regulating the market. Democrats argue that the U.S. regulatory system has successfully fostered innovation in the financial system for decades and accommodating new regulatory structures for non-compliant crypto companies is unnecessary. The memo also emphasizes the importance of supporting SEC Chairman Gary Gensler and providing the necessary resources for effective regulation. This ongoing political struggle highlights the significance of crafting effective regulations as the market continues to grow and attract mainstream attention.