> Okay lets do that. How do they enforce it? There are some exchanges that are decentralized themselves and can't be taken down easily. So your argument is "Y

> Okay lets do that. How do they enforce it? There are some exchanges that are decentralized themselves and can't be taken down easily. So your argument is "You can make it illegal all you want, but we'll just move it underground and it will never die." Arguments like that do little to win over regulators. The last time I checked in the US, cryptocurrency fell within the jurisdiction of the CFTC, IRS, SEC, and FinCEN agencies. Three of those agencies have already made policies regarding cryptocurrencies without needing an act of congress. > On another front, it might be hard to galvanize support to ban cryptocurrency when many of the movers and shakers have embraced it. Again, this argument is not compelling enough. Popular things once done by people or companies have been made illegal time and time again. Any argument that allows companies to profit off illegal activities (money laundering comes to mind) in a legal way without regulation, is DOA.