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The government can't even raise the debt ceiling or collect taxes from people who are flagrantly not declaring income. Crypto skeptics always have this image in
by dcolkitt 5y ago
The government can't even raise the debt ceiling or collect taxes from people who are flagrantly not declaring income. Crypto skeptics always have this image in their mind where the government finally steps up and stops the country from going full Snow Crash.
Let's say Biden tomorrow actually came out and said "enough malarkey, we're banning crypto". What do you think are the actual chances of Congress passing that legislation of the GOP-dominated SCOTUS from upholding those laws. At least half the politicians in this country actively want to see the federal government go through a financial crisis (particularly when the opposite team holds the White House.)
Crypto skeptics point to Executive Order 6102 but ignore the fact that Biden is no FDR. If we actually had a strong executive, like LBJ, Nixon or even GWB post-9/11 I'd agree. Crypto's playing loose with the rules and basically taunting the US Treasury to play whack-a-mole. But this country's so polarized and dysfunctional that we'll never have a strong executive again in our lifetime.