[smoldesu]

> it's completely erased what little confidence I had left in the federal governmnent.

So, cryptocurrencies are used to scam people, and you blame the government?

The government had every reason to stay out of the cryptocurrency discussion. Every web3 startup and their mom was racing to get some form of government endorsement; had the floor been opened for discussion, we would have watched as every exchange threw the other under the bus just so they could look clean and make good on their investors. It would have been unmitigated madness, and arguably, their refusal to really acknowledge crypto has had the exact chilling effect they wanted. Hyperbolic speculative trading is on the decline, Bitcoin is almost worth 1/3 of it's peak value, and hackers are continuing to exploit their script-kiddy software stacks. A time-out in the corner is exactly what the crypto world needed.

[TomSwirly]

Absolutely the government is to blame, in just the same way if companies started pumping a new pollutant into the environment and the EPA did nothing about it for 14 years.

[soco]

If someone breaks into my house, should I blame the justice system?

[distances]

Was there a public, premeditated house breaking plan that ran for years? If so, it clearly was a failure in the system to not put it out in its infancy.

[smoldesu]

Not really? Cryptocurrency has never been directly about causing people harm, it's simply an experiment in alternative digital assets. Now, I think that's a horrible idea, but I also don't think it's the government's job to regulate it any more than it's their responsibility to monitor Fortnite's V-Bucks economy.

Why should the government intervene here? It's in the mutual interests of crypto holders, crypto detractors, exchanges and the Supreme Court to not treat all crypto as a security.