[astoor]

The article fails to point out that cryptocurrency has already effectively been banned (or at least delegitimised) in other major economies like China and India, so the US is in some sense just playing catch-up. At this stage, at the national level, cryptocurrency is primarily supported by mafia states like Russia, rogue states like North Korea, micro-states like various Caribbean islands, and otherwise failing states.

[kristjank]

  If you don't agree with my outlook on cryptocurrency, you're mafia, rogue, too small to matter, or failing otherwise.

Sheesh, what a well balanced outlook on the state of affairs.

[qeternity]

Russia has been a mafia state long before the advent of crypto…

[KptMarchewa]

And to add, they are not for using it internally, just as an additional method for scamming westerners.

[jacknews]

I mean, why would any state support crypto, something explicitly designed to bypass state control of money? Only those suffering oppression of their ability to transact, of course.

[roguas]

Crypto was not designed to bypass state but to provide transparency and stability to currency/money. Say you are in Venezuela where your money is constantly devalued and your political power is diminished, every option that you have to survive that doesn't harm people directly should not be considered in high horse moral terms.

[jacknews]

Indeed, the comment that only NK, narco-states etc support crypto is a bogus moral attack on crypto

NO state truly supports crypto, as it bypasses state-controlled money (by design or not; I'd argue that is exactly one of the design goals).

[SketchySeaBeast]

Are we ignoring El Salvador now? Or is its support not "true"?

[amadeuspagel]

Some states have accepted that they are unable to run a trusted currency and used the US dollar instead. Bitcoin seems like a straightforwardly better choice there, since the US Fed can't print bitcoins.

[ChatGTP]

Because they're benefiting from it?

I'm not sure how true it is, but I have read N Korea uses cryptocurrencies to trade ?