Personally, I find the "shitcoin" part of crypto the least interesting target for potential regulation. Some are outright scams (say 1 in 10), many just poor in

Personally, I find the "shitcoin" part of crypto the least interesting target for potential regulation. Some are outright scams (say 1 in 10), many just poor investments (about 8 in 10), but for the most part the crypto community willingly engages with these coins, knowing the risk. What I find much more important in terms of consumer protection is exchange regulation. Mainstream use of crypto will overwhelmingly be via exchanges and wallet apps, and quite obviously, your money shouldn't just disappear because of incompetence, a hack, a bug or bad intent. Adding protection or regulation here may make crypto far less scary. I extend this concern to DeFi, which largely means staking. Right now, it basically means giving up custody of your coin to others, whom in some cases may "lose" it. I would consider both use cases, just parking a coin and staking it, absolutely critical for mainstream usage and as the amount of money exponentially increases, it becomes ever important that at least basic protection is in place. At the same time, you don't want to add so much regulation that it crumbles the entire space.