I'm pretty mixed here. I think the general stance of allowing legal cryptocurrencies is a mistake (I'll be clear - I've used bitcoin as an actual currency on d

I'm pretty mixed here. I think the general stance of allowing legal cryptocurrencies is a mistake (I'll be clear - I've used bitcoin as an actual currency on dark markets. It's ok for that purpose, but that purpose is opposed to sane government policy. As a speculative asset, I think it's a scam.) But it is legal. So I'm mixed because I feel like the actual governmental response to this at a legislative level (congress) has been a complete failure. It's hard to argue that crypto is not a net negative right now - It's used to generate new "coins" that are just outright scams and rugpulls, that manipulate and abuse the less educated in the populace (and for the all the folks with they "they deserve it" attitude... they are your follow citizens. For good or bad their welfare impacts your welfare. You shouldn't be happy they're getting scammed and abused) - It's consistent with criminal activity in hacking/blackmail for corporations from foreign agents - The larger coins (ex bitcoin) are mostly controlled by non-us mining groups, outside the control of the government, but the government is going to be on the hook for costs related to enforcement (courts, banks, fdic, etc). - It's a bad hedge as an asset (it's price tends to correlate strong with the markets, indicating it's not really a digital gold). ---- Frankly - I think for all the issues I otherwise have with a country like China, their stance on crypto is a sane response. It clearly shouldn't be legal, but I wouldn't spend much on enforcement.