Yep, you are completely correct - so far. My reading is that they have decided that crypto is not a threat to their tax raising powers and it might provide a us

Yep, you are completely correct - so far. My reading is that they have decided that crypto is not a threat to their tax raising powers and it might provide a useful mechanism for a para-cash economy which enables more overall economic activity and yet is more amenable to monitoring and tracking and in the limit enforcement.