Just because it doesn't serve a clear purpose doesn't mean it should be banned. If governments simply allowed cryptocurrencies to exist outside of any regulati

Just because it doesn't serve a clear purpose doesn't mean it should be banned. If governments simply allowed cryptocurrencies to exist outside of any regulation except the obligation to pay taxes on transactions and gains, eventually participation would decline as users of the currencies lost their money to scams or mismanagement, in the absence of a state interest in protecting participants. If the system is designed to resist state intervention, maybe letting it run as designed, and suffer the consequences, is the best approach. There's no need to regulate it out of existence just because it serves no apparent purpose. This is one case where the market will sort that out if we let it.