If crypto was actually free of regulation that would be a perfectly acceptable tradeoff, but it clearly isn't. Sometimes projects get boned for no reason with n

If crypto was actually free of regulation that would be a perfectly acceptable tradeoff, but it clearly isn't. Sometimes projects get boned for no reason with no instructive guidelines, often to the point they even would have been better off just ignoring the feds. The US Gov taking a hands off position — "none of this shit is real, do whatever you want but don't expect us to protect you" — would be an excellent and satisfactory outcome. In practice, they would probably feel compelled to step into extreme cases like FTX where laws were violated immaterial of the jurisdictional status of blockchain assets, which is a good thing. A firm set of regulatory guidelines, which does not imply a bailout by any means, would also be a good outcome. The worst part of what we have now is that the legal status of this industry in the US is completely opaque, and the constantly changing uncertainty is driving investment in the technology overseas or stifling it all together. The government is completely failing its mandate with this policy of inaction and indifference. Pick anything!